4 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 3,652 3,652 xbrli:pure xbrli:shares iso4217:GBP 04403678 2022-04-01 2023-03-31 04403678 2023-03-31 04403678 2022-03-31 04403678 2021-04-01 2022-03-31 04403678 2022-03-31 04403678 core:FurnitureFittings 2022-04-01 2023-03-31 04403678 bus:Director1 2022-04-01 2023-03-31 04403678 core:FurnitureFittings 2022-03-31 04403678 core:FurnitureFittings 2023-03-31 04403678 core:WithinOneYear 2023-03-31 04403678 core:WithinOneYear 2022-03-31 04403678 core:AfterOneYear 2023-03-31 04403678 core:AfterOneYear 2022-03-31 04403678 core:ShareCapital 2023-03-31 04403678 core:ShareCapital 2022-03-31 04403678 core:RetainedEarningsAccumulatedLosses 2023-03-31 04403678 core:RetainedEarningsAccumulatedLosses 2022-03-31 04403678 core:FurnitureFittings 2022-03-31 04403678 bus:SmallEntities 2022-04-01 2023-03-31 04403678 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04403678 bus:FullAccounts 2022-04-01 2023-03-31 04403678 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04403678 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04403678 core:ComputerEquipment 2022-04-01 2023-03-31 04403678 core:ComputerSoftware 2023-03-31 04403678 core:ComputerEquipment 2022-03-31 04403678 core:ComputerEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 04403678
Redfox Executive Selection Limited
Unaudited financial statements
31 March 2023
Redfox Executive Selection Limited
Statement of financial position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
3,137
1,429
Current assets
Debtors
7
164,802
156,135
Cash at bank and in hand
156,768
39,016
---------
---------
321,570
195,151
Creditors: Amounts falling due within one year
8
( 140,230)
( 108,694)
---------
---------
Net current assets
181,340
86,457
---------
-------
Total assets less current liabilities
184,477
87,886
Creditors: Amounts falling due after more than one year
9
( 21,667)
( 31,667)
Provisions
Taxation including deferred tax
( 784)
( 115)
---------
-------
Net assets
162,026
56,104
---------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
162,024
56,102
---------
-------
Shareholders funds
162,026
56,104
---------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Redfox Executive Selection Limited
Statement of financial position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 2 November 2023 , and are signed on behalf of the board by:
S MacGillivray
Director
Company registration number: 04403678
Redfox Executive Selection Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6b Park Farm Business Centre, Fornham Park, Fornham St. Genevieve, Bury St Edmunds, Suffolk, IP28 6TS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 4 (2022: 5 ).
5. Intangible assets
Computer software
£
Cost
At 1 April 2022 and 31 March 2023
3,652
------
Amortisation
At 1 April 2022 and 31 March 2023
3,652
------
Carrying amount
At 31 March 2023
------
At 31 March 2022
------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2022
11,435
51,565
63,000
Additions
1,650
748
2,398
-------
-------
-------
At 31 March 2023
13,085
52,313
65,398
-------
-------
-------
Depreciation
At 1 April 2022
10,894
50,677
61,571
Charge for the year
260
430
690
-------
-------
-------
At 31 March 2023
11,154
51,107
62,261
-------
-------
-------
Carrying amount
At 31 March 2023
1,931
1,206
3,137
-------
-------
-------
At 31 March 2022
541
888
1,429
-------
-------
-------
7. Debtors
2023
2022
£
£
Trade debtors
57,412
42,126
Other debtors
107,390
114,009
---------
---------
164,802
156,135
---------
---------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
2,550
2,280
Social security and other taxes
87,017
64,054
Other creditors
40,663
32,360
---------
---------
140,230
108,694
---------
---------
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,667
31,667
-------
-------
10. Directors' advances, credits and guarantees
Included within debtors at the year end are directors loan accounts totalling £106,780 (2022: £112,673). Interest has been charged at the official rate of £2,431.