0 29 February 2024 false false false false false false false false false false true false false true false true true true No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 79,495 3,531 15,681 67,345 59,801 7,936 15,681 52,056 15,289 19,694 xbrli:pure xbrli:shares iso4217:GBP SC180270 2023-01-01 2023-12-31 SC180270 2023-12-31 SC180270 2022-12-31 SC180270 2022-01-01 2022-12-31 SC180270 2022-12-31 SC180270 2021-12-31 SC180270 core:PlantMachinery 2023-01-01 2023-12-31 SC180270 bus:Director2 2023-01-01 2023-12-31 SC180270 core:PlantMachinery 2022-12-31 SC180270 core:PlantMachinery 2023-12-31 SC180270 core:WithinOneYear 2023-12-31 SC180270 core:WithinOneYear 2022-12-31 SC180270 core:ShareCapital 2023-12-31 SC180270 core:ShareCapital 2022-12-31 SC180270 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC180270 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC180270 core:PlantMachinery 2022-12-31 SC180270 bus:SmallEntities 2023-01-01 2023-12-31 SC180270 bus:Audited 2023-01-01 2023-12-31 SC180270 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC180270 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC180270 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: SC180270
Foxteq (UK) Ltd
Filleted Financial Statements
31 December 2023
Foxteq (UK) Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
15,289
19,694
Current assets
Debtors
5
169,916
266,060
Cash at bank and in hand
562,260
437,597
---------
---------
732,176
703,657
Creditors: amounts falling due within one year
6
78,351
52,473
---------
---------
Net current assets
653,825
651,184
---------
---------
Total assets less current liabilities
669,114
670,878
Provisions
885
---------
---------
Net assets
668,229
670,878
---------
---------
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss account
568,229
570,878
---------
---------
Shareholders funds
668,229
670,878
---------
---------
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.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 29 February 2024 , and are signed on behalf of the board by:
Q Sun
Director
Company registration number: SC180270
Foxteq (UK) Ltd
Notes to the Financial Statements
Year ended 31 December 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 13 Queens Road, Aberdeen, AB15 4YL.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Hon Hai Precision Industry Co Limited which can be obtained from the parent company at Tzu Yu St, Tu-Cheng City, Taipei Hsien, 23606, Taiwan, R.O.C. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. In addition the company is also exempt under the terms of Financial Reporting Standard 102 from disclosing transactions with entities that are part of the Hon Hai Precision Industry Co Limited Group.
Revenue recognition
The company acts as an agent for processing payments of companies within the Hon Hai Precision Industry Co Limited Group. These payments and corresponding disbursement are not treated as the activity of the company. Turnover is measured at the fair value of the commission charged for the processing of payments and represents amounts receivable for 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Plant and machinery
-
25% straight line
4. Tangible assets
Plant and machinery
£
Cost
At 1 January 2023
79,495
Additions
3,531
Disposals
( 15,681)
--------
At 31 December 2023
67,345
--------
Depreciation
At 1 January 2023
59,801
Charge for the year
7,936
Disposals
( 15,681)
--------
At 31 December 2023
52,056
--------
Carrying amount
At 31 December 2023
15,289
--------
At 31 December 2022
19,694
--------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
149,796
247,764
Other debtors
20,120
18,296
---------
---------
169,916
266,060
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
17,138
4,116
Social security and other taxes
48,866
24,563
Other creditors
12,347
23,794
--------
--------
78,351
52,473
--------
--------
7. Summary audit opinion
The auditor's report dated 29 February 2024 was unqualified .
The senior statutory auditor was Thomas William McManners Bsc ACA ACMI , for and on behalf of TTCA Ltd .
8. Controlling party
The ultimate parent company and controlling party is Hon Hai Precision Industry Co Limited, which is incorporated in Taiwan, R.O.C. Copies of the ultimate parent company accounts are available from: No.2 Zihyou St Tucheng Dist New Taipei City 236 Taiwan