Fox And Fox Electrics Ltd 12519822 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is electrical installation. Digita Accounts Production Advanced 6.30.9574.0 true 12519822 2023-04-01 2024-03-31 12519822 2024-03-31 12519822 core:RetainedEarningsAccumulatedLosses 2024-03-31 12519822 core:ShareCapital 2024-03-31 12519822 core:CurrentFinancialInstruments 2024-03-31 12519822 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12519822 core:MotorVehicles 2024-03-31 12519822 core:OfficeEquipment 2024-03-31 12519822 core:PlantMachinery 2024-03-31 12519822 bus:SmallEntities 2023-04-01 2024-03-31 12519822 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12519822 bus:FullAccounts 2023-04-01 2024-03-31 12519822 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12519822 bus:RegisteredOffice 2023-04-01 2024-03-31 12519822 bus:Director1 2023-04-01 2024-03-31 12519822 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12519822 core:MotorVehicles 2023-04-01 2024-03-31 12519822 core:OfficeEquipment 2023-04-01 2024-03-31 12519822 core:PlantMachinery 2023-04-01 2024-03-31 12519822 countries:EnglandWales 2023-04-01 2024-03-31 12519822 2023-03-31 12519822 core:MotorVehicles 2023-03-31 12519822 core:OfficeEquipment 2023-03-31 12519822 core:PlantMachinery 2023-03-31 12519822 2022-04-01 2023-03-31 12519822 2023-03-31 12519822 core:RetainedEarningsAccumulatedLosses 2023-03-31 12519822 core:ShareCapital 2023-03-31 12519822 core:CurrentFinancialInstruments 2023-03-31 12519822 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12519822 core:MotorVehicles 2023-03-31 12519822 core:OfficeEquipment 2023-03-31 12519822 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 12519822

Fox And Fox Electrics Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Fox And Fox Electrics Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Fox And Fox Electrics Ltd

(Registration number: 12519822)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,180

10,039

Current assets

 

Stocks

5

2,400

13,075

Debtors

6

14,288

13,346

Cash at bank and in hand

 

2,884

10,430

 

19,572

36,851

Creditors: Amounts falling due within one year

7

(17,085)

(24,194)

Net current assets

 

2,487

12,657

Total assets less current liabilities

 

8,667

22,696

Provisions for liabilities

(1,174)

(1,907)

Net assets

 

7,493

20,789

Capital and reserves

 

Called up share capital

100

100

Retained earnings

7,393

20,689

Shareholders' funds

 

7,493

20,789

 

Fox And Fox Electrics Ltd

(Registration number: 12519822)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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 his 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 October 2024
 

.........................................
Mr Adam Fox
Director

 

Fox And Fox Electrics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Old Kennels
Birdsgrove Lane
Ashbourne
Derbyshire
DE6 2BP
England

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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 And Fox Electrics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery

25% straight line

Office equipment

25% straight line

Motor vehicles

25% reducing balance

 

Fox And Fox Electrics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Fox And Fox Electrics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

3,304

5,006

16,983

25,293

At 31 March 2024

3,304

5,006

16,983

25,293

Depreciation

At 1 April 2023

2,484

2,952

9,818

15,254

Charge for the year

820

1,248

1,791

3,859

At 31 March 2024

3,304

4,200

11,609

19,113

Carrying amount

At 31 March 2024

-

806

5,374

6,180

At 31 March 2023

820

2,054

7,165

10,039

5

Stocks

2024
£

2023
£

Work in progress

-

9,875

Other inventories

2,400

3,200

2,400

13,075

6

Debtors

Current

2024
£

2023
£

Trade debtors

185

3,553

Other debtors

14,103

9,793

 

14,288

13,346

 

Fox And Fox Electrics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

2,722

Other creditors

 

17,085

21,472

 

17,085

24,194

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

-

2,722