Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2truetruefalse2023-04-01No description of principal activity2false 11768160 2023-04-01 2024-03-31 11768160 2022-04-01 2023-03-31 11768160 2024-03-31 11768160 2023-03-31 11768160 2022-04-01 11768160 c:Director1 2023-04-01 2024-03-31 11768160 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 11768160 d:PlantMachinery 2023-04-01 2024-03-31 11768160 d:PlantMachinery 2024-03-31 11768160 d:PlantMachinery 2023-03-31 11768160 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11768160 d:MotorVehicles 2023-04-01 2024-03-31 11768160 d:MotorVehicles 2024-03-31 11768160 d:MotorVehicles 2023-03-31 11768160 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11768160 d:OfficeEquipment 2023-04-01 2024-03-31 11768160 d:OfficeEquipment 2024-03-31 11768160 d:OfficeEquipment 2023-03-31 11768160 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11768160 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 11768160 d:OtherPropertyPlantEquipment 2024-03-31 11768160 d:OtherPropertyPlantEquipment 2023-03-31 11768160 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11768160 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11768160 d:CurrentFinancialInstruments 2024-03-31 11768160 d:CurrentFinancialInstruments 2023-03-31 11768160 d:Non-currentFinancialInstruments 2024-03-31 11768160 d:Non-currentFinancialInstruments 2023-03-31 11768160 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11768160 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11768160 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11768160 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11768160 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11768160 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11768160 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 11768160 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11768160 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 11768160 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 11768160 d:ShareCapital 2023-04-01 2024-03-31 11768160 d:ShareCapital 2024-03-31 11768160 d:ShareCapital 2022-04-01 2023-03-31 11768160 d:ShareCapital 2023-03-31 11768160 d:ShareCapital 2022-04-01 11768160 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 11768160 d:RetainedEarningsAccumulatedLosses 2024-03-31 11768160 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 11768160 d:RetainedEarningsAccumulatedLosses 2023-03-31 11768160 d:RetainedEarningsAccumulatedLosses 2022-04-01 11768160 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 11768160 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11768160 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 11768160 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 11768160 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11768160 c:OrdinaryShareClass1 2024-03-31 11768160 c:OrdinaryShareClass1 2023-03-31 11768160 c:OrdinaryShareClass2 2023-04-01 2024-03-31 11768160 c:OrdinaryShareClass2 2024-03-31 11768160 c:OrdinaryShareClass2 2023-03-31 11768160 c:OrdinaryShareClass3 2023-04-01 2024-03-31 11768160 c:OrdinaryShareClass3 2024-03-31 11768160 c:FRS102 2023-04-01 2024-03-31 11768160 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11768160 c:FullAccounts 2023-04-01 2024-03-31 11768160 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11768160 2 2023-04-01 2024-03-31 11768160 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11768160










FOXHOLES ENERGY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FOXHOLES ENERGY LIMITED
REGISTERED NUMBER: 11768160

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,634,470
5,978,093

  
5,634,470
5,978,093

Current assets
  

Stocks
  
107,160
177,360

Debtors: amounts falling due within one year
 5 
1,093,619
968,263

Cash at bank and in hand
 6 
63,307
532,789

  
1,264,086
1,678,412

Creditors: amounts falling due within one year
 7 
(2,330,243)
(1,609,055)

Net current (liabilities)/assets
  
 
 
(1,066,157)
 
 
69,357

Total assets less current liabilities
  
4,568,313
6,047,450

Creditors: amounts falling due after more than one year
 8 
(1,476,062)
(3,902,234)

Provisions for liabilities
  

Deferred tax
 10 
(1,292,276)
(1,154,301)

  
 
 
(1,292,276)
 
 
(1,154,301)

Net assets
  
1,799,975
990,915


Capital and reserves
  

Called up share capital 
 11 
100
21

Profit and loss account
  
1,799,875
990,894

  
1,799,975
990,915


img1e32.png Page 1

 
FOXHOLES ENERGY LIMITED
REGISTERED NUMBER: 11768160
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr G C Davies
Director

Date: 18 September 2024

The notes on pages 4 to 11 form part of these financial statements.

img1809.png Page 2

 
FOXHOLES ENERGY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
21
570,721
570,742


Comprehensive income for the year

Profit for the year

-
420,173
420,173


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
420,173
420,173


Total transactions with owners
-
-
-



At 1 April 2023
21
990,894
990,915


Comprehensive income for the year

Profit for the year

-
808,981
808,981


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
808,981
808,981


Contributions by and distributions to owners

Shares issued during the year
79
-
79


Total transactions with owners
79
-
79


At 31 March 2024
100
1,799,875
1,799,975


The notes on pages 4 to 11 form part of these financial statements.

img69bd.png Page 3

 
FOXHOLES ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Foxholes Energy Limited (company number 11768160) is a private limited company, limited by share, incorporated in England and Wales, with its registered office at Red House, Little Ness, Baschurch, Shrewsbury, SY4 2LG. 
The prior period accounts cover the period from 1 April 2022 to 31 March 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

img3665.png Page 4

 
FOXHOLES ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

img4cd1.png Page 5

 
FOXHOLES ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Building and structures
-
not depreciated
Plant and machinery
-
25%
reducing balance
Tractors
-
25%
reducing balance
Office equipment
-
Anaerobic digestor
-
7%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

img0f57.png Page 6

 
FOXHOLES ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery
Tractors
Buildings and structures
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
59,619
219,128
8,269
7,551,049
7,838,065


Additions
1,700
-
26,089
168,571
196,360



At 31 March 2024

61,319
219,128
34,358
7,719,620
8,034,425



Depreciation


At 1 April 2023
34,559
115,118
-
1,710,295
1,859,972


Charge for the year on owned assets
6,692
26,002
-
507,289
539,983



At 31 March 2024

41,251
141,120
-
2,217,584
2,399,955



Net book value



At 31 March 2024
20,068
78,008
34,358
5,502,036
5,634,470



At 31 March 2023
25,060
104,010
8,269
5,840,754
5,978,093


5.


Debtors

img0596.png Page 7

 
FOXHOLES ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
£
£


Trade debtors
1,081,185
898,221

Other debtors
-
65,456

Prepayments and accrued income
12,434
4,586

1,093,619
968,263



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
63,307
532,789

63,307
532,789



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
264,459
271,687

Trade creditors
276,272
1,001,268

Other taxation and social security
85,291
-

Other creditors
1,699,721
332,000

Accruals and deferred income
4,500
4,100

2,330,243
1,609,055



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,476,062
3,902,234

1,476,062
3,902,234


The above bank loan is secured against all leasehold property and all plant, machinery and other fixed assets of the Company.

img3bd3.png Page 8

 
FOXHOLES ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
264,459
271,687


264,459
271,687

Amounts falling due 1-2 years

Bank loans
264,459
271,687


264,459
271,687

Amounts falling due 2-5 years

Bank loans
793,376
815,060


793,376
815,060

Amounts falling due after more than 5 years

Bank loans
418,227
2,815,487

418,227
2,815,487

1,740,521
4,173,921


img16de.png Page 9

 
FOXHOLES ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024


£






At beginning of year
(1,154,301)


Charged to profit or loss
(137,975)



At end of year
(1,292,276)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,301,933)
(1,365,935)

Tax losses carried forward
9,657
211,634

(1,292,276)
(1,154,301)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



45 (2023 - 11) Ordinary 'A' class shares of £1.00 each
45
11
45 (2023 - 10) Ordinary 'B' class shares of £1.00 each
45
10
10 (2023 - ) Ordinary 'C' class shares of £1.00 each
10
-

100

21





12.


Transactions with directors

During the year ended 31 March 2024 a loan account was operated between the company and a connected unincorporated partnership, of which the Director is a Partner. The company owed the partnership £60,321. No interest has been charged on this loan. 

img726b.png Page 10

 
FOXHOLES ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Related party transactions

During the year the company made sales to a connected unincorporated partnership totalling £48,900 and the partnership made sales to the company totalling £957,855.
During the year ended 31 March 2024 a loan account was operated between the company and a connected company. The company owed the connected company £1,639,400 (2023: £300,000). No interest has been charged on this loan.

 
img27ea.png Page 11