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Company No: 08811193 (England and Wales)

FOXBARN (HOLDINGS) LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

FOXBARN (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

FOXBARN (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
FOXBARN (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 3,526,502 3,526,502
3,526,502 3,526,502
Current assets
Cash at bank and in hand 5 2,030 213
2,030 213
Creditors: amounts falling due within one year 6 ( 3,528) ( 1,711)
Net current liabilities (1,498) (1,498)
Total assets less current liabilities 3,525,004 3,525,004
Net assets 3,525,004 3,525,004
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 3,524,904 3,524,904
Total shareholders' funds 3,525,004 3,525,004

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Foxbarn (Holdings) Limited (registered number: 08811193) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D Cohen
Director

24 September 2024

FOXBARN (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
FOXBARN (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Foxbarn (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 0 0

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 3,526,502
At 31 December 2023 3,526,502
Carrying value at 31 December 2023 3,526,502
Carrying value at 31 December 2022 3,526,502

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 2,030 213

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 15 15
Other creditors 3,513 1,696
3,528 1,711

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each (2022: nil shares) 50 0
50 B ordinary shares of £ 1.00 each (2022: nil shares) 50 0
100 0