Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31412023-01-01truefalseNo description of principal activity41trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00844642 2023-01-01 2023-12-31 00844642 2022-01-01 2022-12-31 00844642 2023-12-31 00844642 2022-12-31 00844642 c:Director1 2023-01-01 2023-12-31 00844642 d:Buildings 2023-01-01 2023-12-31 00844642 d:Buildings 2023-12-31 00844642 d:Buildings 2022-12-31 00844642 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00844642 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 00844642 d:PlantMachinery 2023-01-01 2023-12-31 00844642 d:PlantMachinery 2023-12-31 00844642 d:PlantMachinery 2022-12-31 00844642 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00844642 d:MotorVehicles 2023-01-01 2023-12-31 00844642 d:MotorVehicles 2023-12-31 00844642 d:MotorVehicles 2022-12-31 00844642 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00844642 d:FurnitureFittings 2023-01-01 2023-12-31 00844642 d:FurnitureFittings 2023-12-31 00844642 d:FurnitureFittings 2022-12-31 00844642 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00844642 d:ComputerEquipment 2023-01-01 2023-12-31 00844642 d:ComputerEquipment 2023-12-31 00844642 d:ComputerEquipment 2022-12-31 00844642 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00844642 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00844642 d:CurrentFinancialInstruments 2023-12-31 00844642 d:CurrentFinancialInstruments 2022-12-31 00844642 d:Non-currentFinancialInstruments 2023-12-31 00844642 d:Non-currentFinancialInstruments 2022-12-31 00844642 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00844642 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00844642 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 00844642 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 00844642 d:ShareCapital 2023-12-31 00844642 d:ShareCapital 2022-12-31 00844642 d:RetainedEarningsAccumulatedLosses 2023-12-31 00844642 d:RetainedEarningsAccumulatedLosses 2022-12-31 00844642 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00844642 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 00844642 d:OtherDeferredTax 2023-12-31 00844642 d:OtherDeferredTax 2022-12-31 00844642 c:OrdinaryShareClass1 2023-01-01 2023-12-31 00844642 c:OrdinaryShareClass1 2023-12-31 00844642 c:OrdinaryShareClass1 2022-12-31 00844642 c:FRS102 2023-01-01 2023-12-31 00844642 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00844642 c:FullAccounts 2023-01-01 2023-12-31 00844642 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00844642 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 00844642 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 00844642 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 00844642 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 00844642 d:LeasedAssetsHeldAsLessee 2023-12-31 00844642 d:LeasedAssetsHeldAsLessee 2022-12-31 00844642 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00844642










FOX-VPS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FOX-VPS LTD
REGISTERED NUMBER: 00844642

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
                                                                    Note
£
£

Fixed assets
  

Tangible assets
 4 
707,052
629,395

  
707,052
629,395

Current assets
  

Stocks
 5 
999,988
815,791

Debtors: amounts falling due after more than one year
 6 
1,648,695
1,336,827

Debtors: amounts falling due within one year
 6 
962,749
1,189,109

Cash at bank and in hand
 7 
19,827
28,591

  
3,631,259
3,370,318

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(1,716,049)
(1,623,571)

Net current assets
  
 
 
1,915,210
 
 
1,746,747

Total assets less current liabilities
  
2,622,262
2,376,142

Creditors: amounts falling due after more than one year
 9 
(164,824)
(71,133)

Provisions for liabilities
  

Deferred tax
 11 
(155,340)
(131,064)

  
 
 
(155,340)
 
 
(131,064)

Net assets
  
2,302,098
2,173,945


Capital and reserves
  

Called up share capital 
 12 
1,000
1,000

Profit and loss account
  
2,301,098
2,172,945

  
2,302,098
2,173,945


Page 1

 
FOX-VPS LTD
REGISTERED NUMBER: 00844642

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






K Davis
Director

Date: 3 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FOX-VPS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

FOX-VPS Ltd is a private company limited by shares, registered in England and Wales. The company's registered office address is Minekeep House, Bridge Road, Camberley, Surrey, GU15 2QZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
FOX-VPS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold property
-
20% reducing balance
Plant and machinery
-
17.5% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
33.33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to it's selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
 

 
2.8

Current and deferred taxation

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

Page 4

 
FOX-VPS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Current and deferred taxation (continued)

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and laibilities like trade and other debtors and creditors, loans from banks and other
third parties and loans to related parties.

  
2.10

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.


3.


Employees

The average monthly number of employees, including directors, during the year was 41 (2022 - 41).

Page 5

 


 
FOX-VPS LTD


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


4.


Tangible fixed assets






Leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
30,910
2,547,145
21,559
54,861
106,186
2,760,661


Additions
-
228,220
-
1,960
831
231,011


Disposals
-
(45,896)
-
-
-
(45,896)



At 31 December 2023

30,910
2,729,469
21,559
56,821
107,017
2,945,776



Depreciation


At 1 January 2023
24,371
1,962,356
3,762
52,389
88,388
2,131,266


Charge for the year on owned assets
1,308
141,421
4,449
399
4,973
152,550


Disposals
-
(45,092)
-
-
-
(45,092)



At 31 December 2023

25,679
2,058,685
8,211
52,788
93,361
2,238,724



Net book value



At 31 December 2023
5,231
670,784
13,348
4,033
13,656
707,052



At 31 December 2022
6,539
584,789
17,797
2,472
17,798
629,395

Page 6

 
FOX-VPS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
160,083
-

Motor vehicles
13,348
17,797

173,431
17,797


5.


Stocks

2023
2022
£
£

Stocks and work in progress
999,988
815,791

999,988
815,791



6.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
1,648,695
1,336,827

1,648,695
1,336,827


2023
2022
£
£

Due within one year

Trade debtors
823,402
1,074,309

Other debtors
46,619
46,500

Prepayments and accrued income
92,728
68,300

962,749
1,189,109


Page 7

 
FOX-VPS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
19,827
28,591

19,827
28,591



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Other loans
656,193
600,911

Trade creditors
407,729
481,662

Other taxation and social security
126,578
112,109

Obligations under finance lease and hire purchase contracts
52,446
6,361

Other creditors
42,245
42,477

Accruals and deferred income
430,858
380,051

1,716,049
1,623,571


Included in the creditors above are unpaid pensions of £1,845 (2022 - £1,658).


9.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
111,211
7,175

Amounts owed to group undertakings
53,613
63,958

164,824
71,133



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
656,193
600,911





Other loans are secured against the assets they relate to and are repayable over the agreed terms.

Page 8

 
FOX-VPS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Deferred taxation




2023


£






At beginning of year
(131,064)


Charged to profit or loss
(24,276)



At end of year
(155,340)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(159,718)
(136,245)

Short term timing differences
4,378
5,181

(155,340)
(131,064)


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 9

 
FOX-VPS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Related party transactions

The directors have taken advange of the provisions of FRS 102 section 33.1A by not disclosing intercompany transactions and balances with other group companies.
During the year company paid rent and buildings insurance expense of £175,839 (2022 - £42,939) to Minekeep Limited, a company under common control of the previous owners.


14.


Controlling party and individual

The ultimate parent Company is Enhanced Engineering Group Limited.
In the opinion of the directors, Enhanced Engineering Group Limited is not controlled by any one person.


Page 10