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Visual Fox Ltd

Registered Number
10223018
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

Visual Fox Ltd
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Matthew Raymond Butcher

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

10223018 (England and Wales)
Visual Fox Ltd
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets42,4652,654
2,4652,654
Current assets
Debtors56,053113
Cash at bank and on hand18,22035,912
24,27336,025
Creditors amounts falling due within one year6(13,675)(16,953)
Net current assets (liabilities)10,59819,072
Total assets less current liabilities13,06321,726
Provisions for liabilities7(468)(504)
Net assets12,59521,222
Capital and reserves
Called up share capital200200
Profit and loss account12,39521,022
Shareholders' funds12,59521,222
The financial statements were approved and authorised for issue by the Director on 11 October 2024, and are signed on its behalf by:
Matthew Raymond Butcher
Director
Registered Company No. 10223018
Visual Fox Ltd
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
Visual Fox Ltd is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings3
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 July 2311,00011,000
At 30 June 2411,00011,000
Amortisation and impairment
At 01 July 2311,00011,000
At 30 June 2411,00011,000
Net book value
At 30 June 24--
At 30 June 23--
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 July 2333312,47512,808
Additions-1,7071,707
At 30 June 2433314,18214,515
Depreciation and impairment
At 01 July 2311110,04310,154
Charge for year1111,7851,896
At 30 June 2422211,82812,050
Net book value
At 30 June 241112,3542,465
At 30 June 232222,4322,654
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables5,940-
Prepayments and accrued income113113
Total6,053113
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,9301,397
Amounts owed to related parties668833
Taxation and social security11,07714,723
Total13,67516,953
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)468504
Total468504