Company Registration No. 10047695 (England and Wales)
Ratiobox Limited
Unaudited accounts
for the year ended 31 March 2020
Ratiobox Limited
Unaudited accounts
Contents
Ratiobox Limited
Company Information
for the year ended 31 March 2020
Directors
Benjamin James Watkins
Jayne Louise Watkins
Secretary
Jayne Louise Watkins
Company Number
10047695 (England and Wales)
Registered Office
Suite R
Diss Business Hub
Hopper Way
Diss
IP22 4GT
Ratiobox Limited
Statement of financial position
as at
31 March 2020
Tangible assets
30,610
21,130
Cash at bank and in hand
5,534
13,589
Creditors: amounts falling due within one year
(51,481)
(32,839)
Net current assets
26,391
11,153
Total assets less current liabilities
57,001
32,283
Creditors: amounts falling due after more than one year
(45,346)
(27,407)
Provisions for liabilities
Deferred tax
(5,815)
(2,936)
Called up share capital
200
200
Profit and loss account
5,640
1,740
Shareholders' funds
5,840
1,940
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 16 April 2020.
Benjamin James Watkins
Director
Company Registration No. 10047695
Ratiobox Limited
Notes to the Accounts
for the year ended 31 March 2020
Ratiobox Limited is a private company, limited by shares, registered in England and Wales, registration number 10047695. The registered office is Suite R, Diss Business Hub, Hopper Way, Diss, IP22 4GT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided straight line over the following periods in order to write off the assets over their estimated useful lives:
Fixtures & fittings
2-5 years
Computer equipment
2-4 years
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Ratiobox Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2019
4,465
9,025
21,638
35,128
Additions
12,583
6,582
5,443
24,608
Disposals
(4,465)
(2,121)
(299)
(6,885)
At 31 March 2020
12,583
13,486
26,782
52,851
At 1 April 2019
1,216
2,957
9,825
13,998
Charge for the year
1,982
2,424
6,027
10,433
On disposals
(1,520)
(633)
(37)
(2,190)
At 31 March 2020
1,678
4,748
15,815
22,241
At 31 March 2020
10,905
8,738
10,967
30,610
At 31 March 2019
3,249
6,068
11,813
21,130
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
10,905
-
Work in progress
9,554
6,822
Trade debtors
7,269
4,955
Amounts due from group undertakings etc.
21,502
1,869
Accrued income and prepayments
4,332
6,380
Other debtors
29,681
10,377
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
857
-
Trade creditors
2,892
4,364
Taxes and social security
40,988
24,874
Ratiobox Limited
Notes to the Accounts
for the year ended 31 March 2020
8
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
9,119
-
Ratiobox Holdings Limited, Diss Business Hub, Hopper Way, Diss, England, IP22 4GT
10
Average number of employees
During the year the average number of employees was 10 (2019: 8).
11
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 April 2018
31 March 2019
Capital and reserves (as previously stated)
3,683
4,876
Deferred Taxation on transition to FRS102 Section 1A
(2,346)
(2,346)
Deferred Taxation movement in the year ending 31 March 2019
-
(590)
Capital and reserves (as restated)
1,337
1,940
Reconciliation of profit or loss for the year
31 March 2019
Profit for the year (as previously stated)
54,443
Deferred Taxation movement in the year ending 31 March 2019
(590)
Profit for the year (as restated)
53,853