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Registration number: 14404129

Fox Glazing Solutions Limited

Unaudited Filleted Financial Statements

for the Period from 7 October 2022 to 31 March 2024

 

Fox Glazing Solutions Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Fox Glazing Solutions Limited

Company Information

Directors

Mr Mark Allan Jones

Mr Lee Elson

Mr Martin John Lewis

Mr Simon Foxall

Registered office

Fox House
Brook Street
Redditch
Worcestershire
B98 8NG

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fox Glazing Solutions Limited
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fox Glazing Solutions Limited for the period ended 31 March 2024 as set out on pages 3 to 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Fox Glazing Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fox Glazing Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Fox Glazing Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fox Glazing Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fox Glazing Solutions Limited 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 Fox Glazing Solutions Limited. You consider that Fox Glazing Solutions Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Fox Glazing Solutions Limited. 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.

......................................

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

1 August 2024

 

Fox Glazing Solutions Limited

(Registration number: 14404129)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

11,978

Current assets

 

Stocks

5

15,000

Debtors

6

134,422

Cash at bank and in hand

 

5,826

 

155,248

Creditors: Amounts falling due within one year

7

(163,014)

Net current liabilities

 

(7,766)

Total assets less current liabilities

 

4,212

Provisions for liabilities

(2,995)

Net assets

 

1,217

Capital and reserves

 

Called up share capital

100

Retained earnings

1,117

Shareholders' funds

 

1,217

For the financial period ending 31 March 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
Mr Martin John Lewis
Director

   
     
 

Fox Glazing Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 7 October 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Fox House
Brook Street
Redditch
Worcestershire
B98 8NG
Great Britain

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102
Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small
companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Fox Glazing Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 7 October 2022 to 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.3% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Fox Glazing Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 7 October 2022 to 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 7.

 

Fox Glazing Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 7 October 2022 to 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

13,242

4,200

17,442

At 31 March 2024

13,242

4,200

17,442

Depreciation

Charge for the period

4,414

1,050

5,464

At 31 March 2024

4,414

1,050

5,464

Carrying amount

At 31 March 2024

8,828

3,150

11,978

5

Stocks

2024
£

Other inventories

15,000

6

Debtors

Current

2024
£

Trade debtors

9,713

Prepayments

8,170

Other debtors

116,539

 

134,422

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

58,134

Taxation and social security

7,282

Accruals and deferred income

1,500

Other creditors

96,098

163,014

 

Fox Glazing Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 7 October 2022 to 31 March 2024

8

Related party transactions

Summary of transactions with key management

Transactions took place during the year with associated companies, advanced amounts recieved from Fox Industrial Services Ltd at the end of March 2024 was £40,000. Associated company transaction also took place with Fox Fabrications Ltd and the amount due to them at the year end was £641.
 

2024

At 7 October 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr Simon Foxall

-

20,051

(108,481)

(88,430)

Mr Martin John Lewis

-

50,476

(9,919)

40,557

Mr Mark Allan Jones

-

53,684

-

53,684

Mr Lee Elson

-

42,297

(20,000)

22,297