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Registered number: 07102495
Foxes Club Franchising 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: 07102495
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,275 1,275
Tangible Assets 5 178,269 234,792
179,544 236,067
CURRENT ASSETS
Debtors 6 74,350 140,487
Cash at bank and in hand 50,960 9,109
125,310 149,596
Creditors: Amounts Falling Due Within One Year 7 (107,412 ) (87,605 )
NET CURRENT ASSETS (LIABILITIES) 17,898 61,991
TOTAL ASSETS LESS CURRENT LIABILITIES 197,442 298,058
Creditors: Amounts Falling Due After More Than One Year 8 (131,965 ) (174,360 )
NET ASSETS 65,477 123,698
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 65,377 123,598
SHAREHOLDERS' FUNDS 65,477 123,698
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 Profit and Loss Account.
On behalf of the board
Mr Michael Appiah - Kusi
Director
20 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
Foxes Club Franchising Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07102495 . 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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.5. 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:
Motor Vehicles 20% straight line
Fixtures & Fittings 20% straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Government Grant
Government grants are recognised in the profit and loss 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 profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss 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 profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
4. Intangible Assets
Goodwill Intellectual Property Total
£ £ £
Cost
As at 1 January 2023 3,000 1,275 4,275
As at 31 December 2023 3,000 1,275 4,275
Amortisation
As at 1 January 2023 3,000 - 3,000
As at 31 December 2023 3,000 - 3,000
Net Book Value
As at 31 December 2023 - 1,275 1,275
As at 1 January 2023 - 1,275 1,275
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 234,487 158,322 392,809
As at 31 December 2023 234,487 158,322 392,809
Depreciation
As at 1 January 2023 66,177 91,840 158,017
Provided during the period 46,914 9,609 56,523
As at 31 December 2023 113,091 101,449 214,540
Net Book Value
As at 31 December 2023 121,396 56,873 178,269
As at 1 January 2023 168,310 66,482 234,792
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 23,607 90,543
Prepayments and accrued income - 2,000
Other debtors 50,743 47,944
74,350 140,487
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 28,035 28,035
Trade creditors 9,314 2,237
Bank loans and overdrafts 10,609 12,763
Corporation tax 47,546 43,377
Other taxes and social security 8,422 1,193
Other creditors 2,036 -
Director's loan account 1,450 -
107,412 87,605
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 118,408 151,045
Bank loans 13,557 23,315
131,965 174,360
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 28,035 28,035
Later than one year and not later than five years 118,408 151,045
146,443 179,080
146,443 179,080
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5