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Registered number: 07986744
The Little Foxes Club Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Augustus & Co
Chartered Certified Accountants
374 Ley Street
Ilford
Essex
IG1 4AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07986744
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 46,568 64,449
Investments 5 37,226 29,025
83,794 93,474
CURRENT ASSETS
Debtors 6 81,632 106,624
Cash at bank and in hand 170,697 240,270
252,329 346,894
Creditors: Amounts Falling Due Within One Year 7 (308,386 ) (214,985 )
NET CURRENT ASSETS (LIABILITIES) (56,057 ) 131,909
TOTAL ASSETS LESS CURRENT LIABILITIES 27,737 225,383
Creditors: Amounts Falling Due After More Than One Year 8 (23,512 ) (46,744 )
NET ASSETS 4,225 178,639
Income and Expenditure Account 4,225 178,639
MEMBERS' FUNDS 4,225 178,639
Page 1
Page 2
For the 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.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr Joel Ormerod
Director
24 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Little Foxes Club Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 07986744 . The registered office is 374 Ley Street, Ilford, Essex , IG1 4AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 25% straight line
2.4. Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 17 16
17 16
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 53,303 129,018 182,321
Additions - 22,426 22,426
As at 31 December 2023 53,303 151,444 204,747
Depreciation
As at 1 January 2023 42,642 75,230 117,872
Provided during the period 10,661 29,646 40,307
As at 31 December 2023 53,303 104,876 158,179
Net Book Value
As at 31 December 2023 - 46,568 46,568
As at 1 January 2023 10,661 53,788 64,449
5. Investments
Unlisted
£
Cost
As at 1 January 2023 29,025
Additions 8,201
As at 31 December 2023 37,226
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 37,226
As at 1 January 2023 29,025
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 58,026 105,243
Other debtors 23,606 -
Other taxes and social security - 1,381
81,632 106,624
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 170,334 173,452
Bank loans and overdrafts 69,434 31,999
Other taxes and social security 24,989 -
Other creditors 30,000 -
Accruals and deferred income 7,595 3,500
Director's loan account 6,034 6,034
308,386 214,985
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 23,512 46,744
9. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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