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Company Registration No. 10456446 (England and Wales)
FOX ELECTRICAL SYSTEMS LTD Unaudited accounts for the year ended 30 November 2023
FOX ELECTRICAL SYSTEMS LTD Unaudited accounts Contents
Page
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FOX ELECTRICAL SYSTEMS LTD Company Information for the year ended 30 November 2023
Director
Andrew Fox
Company Number
10456446 (England and Wales)
Registered Office
87 PARKFIELDS ROAD BRIDGEND CF31 4BJ UNITED KINGDOM
Accountants
Richlands Accountancy Ltd Richlands Maesteg Road Tondu Bridgend CF32 9BT
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FOX ELECTRICAL SYSTEMS LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,505 
9,594 
Current assets
Inventories
5,134 
1,623 
Debtors
17,046 
13,698 
Cash at bank and in hand
45,380 
42,369 
67,560 
57,690 
Creditors: amounts falling due within one year
(39,640)
(21,201)
Net current assets
27,920 
36,489 
Total assets less current liabilities
34,425 
46,083 
Creditors: amounts falling due after more than one year
(10,505)
(17,617)
Net assets
23,920 
28,466 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
23,820 
28,366 
Shareholders' funds
23,920 
28,466 
For the year ending 30 November 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 and authorised for issue on 23 August 2024 and were signed on its behalf by
Andrew Fox Director Company Registration No. 10456446
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FOX ELECTRICAL SYSTEMS LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
FOX ELECTRICAL SYSTEMS LTD is a private company, limited by shares, registered in England and Wales, registration number 10456446. The registered office is 87 PARKFIELDS ROAD, BRIDGEND, CF31 4BJ, UNITED KINGDOM.
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.
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:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
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.
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FOX ELECTRICAL SYSTEMS LTD Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 December 2022
7,283 
18,051 
2,141 
2,043 
29,518 
Additions
340 
- 
52 
244 
636 
At 30 November 2023
7,623 
18,051 
2,193 
2,287 
30,154 
Depreciation
At 1 December 2022
4,873 
12,342 
1,511 
1,198 
19,924 
Charge for the year
1,944 
1,427 
136 
218 
3,725 
At 30 November 2023
6,817 
13,769 
1,647 
1,416 
23,649 
Net book value
At 30 November 2023
806 
4,282 
546 
871 
6,505 
At 30 November 2022
2,410 
5,709 
630 
845 
9,594 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
17,046 
13,698 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,995 
7,165 
VAT
13,998 
6,070 
Trade creditors
40 
- 
Taxes and social security
9,236 
5,836 
Loans from directors
8,471 
1,230 
Accruals
900 
900 
39,640 
21,201 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
10,505 
17,617 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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