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Company No: 08501212 (England and Wales)

FOXY DESIGN HORSEBOXES LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

FOXY DESIGN HORSEBOXES LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

FOXY DESIGN HORSEBOXES LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2024
FOXY DESIGN HORSEBOXES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2024
DIRECTORS Craig Leslie Hofert
Louise Emma Hofert
REGISTERED OFFICE Wellington House Aviator Court
Clifton Moor
York
YO30 4UZ
United Kingdom
COMPANY NUMBER 08501212 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
FOXY DESIGN HORSEBOXES LIMITED

BALANCE SHEET

As at 31 July 2024
FOXY DESIGN HORSEBOXES LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 3,034
Tangible assets 4 125,574 357,763
125,574 360,797
Current assets
Stocks 5 211,661 387,606
Debtors 6 44,983 58,250
Cash at bank and in hand 7 195,656 5,517
452,300 451,373
Creditors: amounts falling due within one year 8 ( 414,360) ( 514,469)
Net current assets/(liabilities) 37,940 (63,096)
Total assets less current liabilities 163,514 297,701
Creditors: amounts falling due after more than one year 9 ( 109,960) ( 65,221)
Provision for liabilities 10 ( 31,393) ( 75,623)
Net assets 22,161 156,857
Capital and reserves
Called-up share capital 11 2,000 2,000
Profit and loss account 20,161 154,857
Total shareholders' funds 22,161 156,857

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

Directors' responsibilities:

The financial statements of Foxy Design Horseboxes Limited (registered number: 08501212) were approved and authorised for issue by the Board of Directors on 31 October 2024. They were signed on its behalf by:

Craig Leslie Hofert
Director
FOXY DESIGN HORSEBOXES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
FOXY DESIGN HORSEBOXES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Foxy Design Horseboxes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wellington House Aviator Court, Clifton Moor, York, YO30 4UZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Website costs Total
£ £
Cost
At 01 August 2023 10,400 10,400
At 31 July 2024 10,400 10,400
Accumulated amortisation
At 01 August 2023 7,366 7,366
Charge for the financial year 3,034 3,034
At 31 July 2024 10,400 10,400
Net book value
At 31 July 2024 0 0
At 31 July 2023 3,034 3,034

4. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 01 August 2023 389,860 1,591 391,451
Additions 4,770 1,345 6,115
Disposals ( 227,229) 0 ( 227,229)
At 31 July 2024 167,401 2,936 170,337
Accumulated depreciation
At 01 August 2023 33,237 451 33,688
Charge for the financial year 10,611 904 11,515
Disposals ( 440) 0 ( 440)
At 31 July 2024 43,408 1,355 44,763
Net book value
At 31 July 2024 123,993 1,581 125,574
At 31 July 2023 356,623 1,140 357,763

5. Stocks

2024 2023
£ £
Stocks 211,661 387,606

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

6. Debtors

2024 2023
£ £
Trade debtors 15,200 12,000
Other debtors 29,783 46,250
44,983 58,250

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 195,656 5,517

8. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,134 10,163
Trade creditors 121,164 269,731
Taxation and social security 162,465 209,373
Obligations under finance leases and hire purchase contracts 7,311 2,366
Other creditors 113,286 22,836
414,360 514,469

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 7,968 18,534
Obligations under finance leases and hire purchase contracts 101,992 46,687
109,960 65,221

There are no amounts included above in respect of which any security has been given by the small entity.

10. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 75,623) ( 17,648)
Credited/(charged) to the Statement of Income and Retained Earnings 44,230 ( 57,975)
At the end of financial year ( 31,393) ( 75,623)

11. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary A shares of £ 1.00 each 1,000 1,000
1,000 Ordinary B shares of £ 1.00 each 1,000 1,000
2,000 2,000