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REGISTERED NUMBER: 01318066 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Silver Fox Limited

Silver Fox Limited (Registered number: 01318066)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Silver Fox Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N D Michaelson
Mrs M R Michaelson





SECRETARY: Mrs M R Michaelson





REGISTERED OFFICE: Swallow Court
Swallowfields
Welwyn Garden City
Hertfordshire
AL7 1SA





REGISTERED NUMBER: 01318066 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Silver Fox Limited (Registered number: 01318066)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 264,337 97,775

CURRENT ASSETS
Stocks 310,443 359,759
Debtors 5 121,905 227,048
Cash at bank and in hand 142,528 102,063
574,876 688,870
CREDITORS
Amounts falling due within one year 6 463,913 243,957
NET CURRENT ASSETS 110,963 444,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

375,300

542,688

CREDITORS
Amounts falling due after more than one
year

7

62,790

124,542
NET ASSETS 312,510 418,146

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 302,510 408,146
SHAREHOLDERS' FUNDS 312,510 418,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Silver Fox Limited (Registered number: 01318066)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





N D Michaelson - Director


Silver Fox Limited (Registered number: 01318066)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Silver Fox Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over the period of the lease
Plant and machinery etc - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Silver Fox Limited (Registered number: 01318066)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 59,679 38,096 97,775
Additions 30,199 167,334 197,533
At 31 December 2023 89,878 205,430 295,308
DEPRECIATION
Charge for year 18,052 12,919 30,971
At 31 December 2023 18,052 12,919 30,971
NET BOOK VALUE
At 31 December 2023 71,826 192,511 264,337
At 31 December 2022 59,679 38,096 97,775

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 80,439 125,342
Amounts owed by group undertakings - 61,102
Other debtors 41,466 40,604
121,905 227,048

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 58,710 57,707
Trade creditors 48,948 68,354
Amounts owed to group undertakings 267,398 -
Taxation and social security 10,007 11,304
Other creditors 78,850 106,592
463,913 243,957

Silver Fox Limited (Registered number: 01318066)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 62,790 124,542

8. OTHER FINANCIAL COMMITMENTS

At 31 December 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £45,000 (2022 £90,000).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs Michaelson.