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Fox & Wolf Limited

Registration number : 10095455



















Annual Report and Unaudited Financial Statements

for the year ended 31 January 2024

 

Fox & Wolf Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Fox & Wolf Limited

Company Information

Director

Miss Clare Louise Jones

Company secretary

Mr David Jones

Registered office

Belle Rive
221 Liverpool Road South
Maghull
Merseyside
L31 7DG

Accountants

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Fox & Wolf Limited

(Registration number: 10095455)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

437

1,112

Current assets

 

Debtors

6

5,044

15,588

Cash at bank and in hand

 

29,767

40,749

 

34,811

56,337

Creditors: Amounts falling due within one year

7

(3,804)

(5,045)

Net current assets

 

31,007

51,292

Net assets

 

31,444

52,404

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

31,443

52,403

Total equity

 

31,444

52,404

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 

.........................................
Miss Clare Louise Jones
Director

   
     
 

Fox & Wolf Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Belle Rive
221 Liverpool Road South
Maghull
Merseyside
L31 7DG

These financial statements were authorised for issue by the director on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Fox & Wolf Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Fixture and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Fox & Wolf Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Taxation

Tax charged/(credited) in the income statement

2024
 £

2023
 £

Current taxation

UK corporation tax

3,395

1,555

 

Fox & Wolf Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

3,783

3,783

At 31 January 2024

3,783

3,783

Depreciation

At 1 February 2023

2,671

2,671

Charge for the year

675

675

At 31 January 2024

3,346

3,346

Carrying amount

At 31 January 2024

437

437

At 31 January 2023

1,112

1,112

6

Debtors

2024
£

2023
£

Trade debtors

5,043

1,692

Other debtors

1

13,896

5,044

15,588

 

Fox & Wolf Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,395

4,145

Accruals and deferred income

326

900

Other creditors

83

-

3,804

5,045

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

3,032

-