1 November 2022 false Taxfiler 2023.14 true 09278597business:PrivateLimitedCompanyLtd2022-11-012023-10-31 092785972022-10-31 092785972022-11-012023-10-31 09278597business:AuditExemptWithAccountantsReport2022-11-012023-10-31 09278597business:AbridgedAccounts2022-11-012023-10-31 092785972023-10-31 09278597business:Director12022-11-012023-10-31 09278597business:Director22022-11-012023-10-31 09278597business:Director32022-11-012023-10-31 09278597business:RegisteredOffice2022-11-012023-10-31 092785972022-10-31 09278597core:WithinOneYear2023-10-31 09278597core:WithinOneYear2022-10-31 09278597core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 09278597core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 09278597core:SharePremiumcore:PreviouslyStatedAmount2023-10-31 09278597core:SharePremiumcore:PreviouslyStatedAmount2022-10-31 09278597core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 09278597core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 09278597core:PreviouslyStatedAmount2023-10-31 09278597core:PreviouslyStatedAmount2022-10-31 09278597business:SmallEntities2022-11-012023-10-31 09278597countries:EnglandWales2022-11-012023-10-31 09278597business:OrdinaryShareClass12022-11-012023-10-31 09278597business:OrdinaryShareClass12021-11-012022-10-31 09278597business:Director112022-10-31 09278597business:Director112022-11-012023-10-31 09278597business:Director112023-10-31 09278597business:Director222022-10-31 09278597business:Director222022-11-012023-10-31 09278597business:Director222023-10-31 09278597business:Director332022-10-31 09278597business:Director332022-11-012023-10-31 09278597business:Director332023-10-31 092785972021-11-012022-10-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 09278597 (England and Wales)
Foxberry Ltd Unaudited accounts for the year ended 31 October 2023
Foxberry Ltd Unaudited accounts Contents
Page
- 2 -
Foxberry Ltd Company Information for the year ended 31 October 2023
Directors
Henrik Brunlid Clas Peter Fors David Sahlin
Company Number
09278597 (England and Wales)
Registered Office
Level 39 One Canada Square London E14 5AB
Accountants
Barnes & Scott 86-90 Paul Street Shoreditch London EC2A 4NE
- 3 -
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Foxberry Ltd for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Foxberry Ltd for the year ended 31 October 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Foxberry Ltd, as a body, in accordance with the terms of our engagement letter dated 13 March 2018. Our work has been undertaken solely to prepare for your approval the accounts of Foxberry Ltd and state those matters that we have agreed to state to the Board of Directors of Foxberry Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Foxberry Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Foxberry Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Foxberry Ltd. You consider that Foxberry Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Foxberry Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Barnes & Scott Chartered Accountants 86-90 Paul Street Shoreditch London EC2A 4NE 20 February 2024
- 4 -
Foxberry Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,377 
2,988 
Tangible assets
5,783 
5,617 
8,160 
8,605 
Current assets
Debtors
771,507 
486,844 
Cash at bank and in hand
552,118 
670,710 
1,323,625 
1,157,554 
Creditors: amounts falling due within one year
(239,155)
(121,789)
Net current assets
1,084,470 
1,035,765 
Net assets
1,092,630 
1,044,370 
Capital and reserves
Called up share capital
30,000 
30,000 
Share premium
132,000 
132,000 
Profit and loss account
930,630 
882,370 
Shareholders' funds
1,092,630 
1,044,370 
For the year ending 31 October 2023 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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.
The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by
David Sahlin Director Company Registration No. 09278597
- 5 -
Foxberry Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Foxberry Ltd is a private company, limited by shares, registered in England and Wales, registration number 09278597. The registered office is Level 39, One Canada Square, London, E14 5AB.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
Research and development
The company conducts a large amount of research and development work, the majority of which is done by its directors. Each director carries out two distinct roles for the company which are governed by separate employment contracts. These contracts specify the amount of time and payment relating to each aspect of the director's role and the remuneration related to each reflects the market rate for the work performed. The contracts are reviewed on an annual basis to ensure they accurately reflect the balance of work being conducted. A small amount of research and development is contracted out to unrelated third parties. Expenditure on R&D is charged to the income statement in the year in which it is incurred.
Deferred taxation
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.
- 6 -
Foxberry Ltd Notes to the Accounts for the year ended 31 October 2023
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Going concern
The directors consider the going concern basis to be appropriate having paid due regard to the Company's projected results during the twelve months from the date the financial statements are approved and anticipated cash flows, availability of financing facilities and mitigating actions that can be taken during the period.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 November 2022
6,072 
At 31 October 2023
6,072 
Amortisation
At 1 November 2022
3,084 
Charge for the year
611 
At 31 October 2023
3,695 
Net book value
At 31 October 2023
2,377 
At 31 October 2022
2,988 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 November 2022
29,566 
Additions
3,966 
At 31 October 2023
33,532 
Depreciation
At 1 November 2022
23,949 
Charge for the year
3,800 
At 31 October 2023
27,749 
Net book value
At 31 October 2023
5,783 
At 31 October 2022
5,617 
- 7 -
Foxberry Ltd Notes to the Accounts for the year ended 31 October 2023
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
30,000 Ordinary shares of £1 each
30,000 
30,000 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
1,527 
131,019 
131,413 
1,133 
3,556 
130,524 
132,944 
1,136 
5,006 
189,044 
193,050 
1,000 
10,089 
450,587 
457,407 
3,269 
The director loans are measured at transaction price and are interest free and repayable on demand.
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
- 8 -