Registration number:
Hotbox International Limited
for the Year Ended 31 December 2022
Hotbox International Limited
(Registration number: 05872551)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Hotbox International Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital incorporated in United Kingdom and the company registration number is 05872551.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements cover an individual entity and not that of a Group.
The financial statements are presented in sterling which is the functional currency of the company and have been rounded to the nearest pound.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Hotbox International Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Tax
The tax expense for the period comprises current tax. Tax is recognised in Profit or Loss Account and Statement of Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Hotbox International Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2022 |
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At 31 December 2022 |
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Depreciation |
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At 1 January 2022 |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
- |
- |
Stocks |
2022 |
2021 |
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Other inventories |
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Debtors |
Note |
2022 |
2021 |
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Trade debtors |
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Amounts owed by related parties |
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- |
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Prepayments |
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Other debtors |
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Hotbox International Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Creditors |
2022 |
2021 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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- |
Other creditors |
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Accruals and deferred income |
3,950 |
4,162 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
|
|
|
300 |
|
300 |
Financial commitments, guarantees and contingencies |
The company is part of an unlimited cross guarantee arrangement in respect to amounts owed to the bank by Atrium Agri B.V. and fellow group companies.
Related party transactions |
The directors are remunerated for their management of the Group as a whole through a fellow group company, Cambridge Glasshouse Company Limited.
The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.
Parent and ultimate parent undertaking |
The ultimate holding company is Atrium Agri B.V., incorporated in the Netherlands. The company's immediate parent is Cambridge Group Holding Limited, incorporated in the United Kingdom.
The most senior parent entity producing publicly available financial statements is Cambridge Group Holding Limited. These financial statements are available upon request from the registered office of the Company, which is the same as the Parent Company and is listed on page 1.