2022-07-012023-06-302023-06-30false10223018Visual Fox 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Visual Fox Ltd

Registered Number
10223018
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

Visual Fox Ltd
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

Matthew Raymond Butcher

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

10223018 (England and Wales)
Visual Fox Ltd
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets72,654-
2,654-
Current assets
Debtors1138,753
Cash at bank and on hand35,91218,449
36,02527,202
Creditors amounts falling due within one year9(16,953)(26,843)
Net current assets (liabilities)19,072359
Total assets less current liabilities21,726359
Provisions for liabilities10(504)-
Net assets21,222359
Capital and reserves
Called up share capital200200
Profit and loss account21,022159
Shareholders' funds21,222359
The financial statements were approved and authorised for issue by the Director on 2 October 2023, and are signed on its behalf by:
Matthew Raymond Butcher
Director
Registered Company No. 10223018
Visual Fox Ltd
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
Visual Fox Ltd is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year was that of visual effects for the post production film industry.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings3
Office Equipment3
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
5.Employee information

20232022
Average number of employees during the year11
6.Intangible assets

Total

£
Cost or valuation
At 01 July 2211,000
At 30 June 2311,000
Amortisation and impairment
At 01 July 2211,000
At 30 June 2311,000
Net book value
At 30 June 23-
At 30 June 22-
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 July 228,827
Additions3,981
At 30 June 2312,808
Depreciation and impairment
At 01 July 228,827
Charge for year1,327
At 30 June 2310,154
Net book value
At 30 June 232,654
At 30 June 22-
8.Debtors within one year

2023

2022

££
Trade debtors / trade receivables-8,640
Prepayments and accrued income113113
Total1138,753
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,5101,300
Amounts owed to related parties83311,092
Taxation and social security14,61014,451
Total16,95326,843
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)504-
Total504-