SLIGHTLY FOXED LIMITED

Company Registration Number:
04881382 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

SLIGHTLY FOXED LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

SLIGHTLY FOXED LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 11,350 14,950
Tangible assets: 4 6,300 3,300
Total fixed assets: 17,650 18,250
Current assets
Stocks: 320,788 318,237
Debtors:   74,445 57,703
Cash at bank and in hand: 342,179 383,457
Total current assets: 737,412 759,397
Creditors: amounts falling due within one year: 5 (331,168) (325,714)
Net current assets (liabilities): 406,244 433,683
Total assets less current liabilities: 423,894 451,933
Creditors: amounts falling due after more than one year: 6 (72,716) (73,392)
Total net assets (liabilities): 351,178 378,541
Capital and reserves
Called up share capital: 23,217 23,217
Share premium account: 105,736 105,736
Profit and loss account: 222,225 249,588
Shareholders funds: 351,178 378,541

The notes form part of these financial statements

SLIGHTLY FOXED LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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 this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 February 2024
and signed on behalf of the board by:

Name: G F Pirkis
Status: Director

The notes form part of these financial statements

SLIGHTLY FOXED LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents sales and that proportion of subscriptions received which relate to the four issues of Slightly Foxed published in the year. The balance of subscriptions, relating to later issues has been carried forward as deferred income. Similarly, the expenses of later issues, particularly payments to contributors and artists in advance of publication, have been carried forward as prepayments. Marketing, distribution and overhead expenses have been charged to profit and loss when incurred.

Tangible fixed assets and depreciation policy

Depreciation has been charged to write off the cost, less estimated residual value, of all fixed assets over their expected useful lives using the reducing balance method at the rate of 25% per annum for the website and tangible assets.

Intangible fixed assets and amortisation policy

Depreciation has been charged to write off the cost, less estimated residual value, of all fixed assets over their expected useful lives using the reducing balance method at the rate of 10% per annum for intangible assets.

Valuation and information policy

Stocks of the current issue, back numbers and editions remaining unsold have been valued at the lower of cost and realisable value, excluding any marketing, distribution or overhead expenses from the calculation.

Other accounting policies

The taxation expense represents the aggregate amount of current and deferred tax recognised in the year. Provision has been made for deferred taxation to the extent that a material asset or liability was expected to arise from timing or other taxation differences.Contributions to the company’s defined contribution pension plan have been recognised as they have become payable.

SLIGHTLY FOXED LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 6 6

SLIGHTLY FOXED LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible Assets

Total
Cost £
At 01 January 2023 33,125
At 31 December 2023 33,125
Amortisation
At 01 January 2023 18,175
Charge for year 3,600
At 31 December 2023 21,775
Net book value
At 31 December 2023 11,350
At 31 December 2022 14,950

SLIGHTLY FOXED LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible Assets

Total
Cost £
At 01 January 2023 59,152
Additions 4,189
At 31 December 2023 63,341
Depreciation
At 01 January 2023 55,852
Charge for year 1,189
At 31 December 2023 57,041
Net book value
At 31 December 2023 6,300
At 31 December 2022 3,300

SLIGHTLY FOXED LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

Trade creditors and accruals £25,967 (£24,884)Taxes and social security £5,422 (£10,859)Dividend proposed £23,217 (£23,217)Subscriptions received in advance £276,562 (£267,024)

SLIGHTLY FOXED LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due after more than one year note

Subscriptions received in advance £72,716 (£73,392)

SLIGHTLY FOXED LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Related party transactions

Amounts paid to directors for editorial and marketing advice £17,665 (£13,238), rent of office premises £26,250 (£26,250)