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COMPANY REGISTRATION NUMBER: 07175182
FOXBERRY (SERVICES) LTD
UNAUDITED FINANCIAL STATEMENTS
31 March 2024
FOXBERRY (SERVICES) LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
CONTENTS
PAGE
Officers and professional advisers
1
Director's report
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
The following pages do not form part of the financial statements
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
11
FOXBERRY (SERVICES) LTD
OFFICERS AND PROFESSIONAL ADVISERS
DIRECTOR
L Williams
REGISTERED OFFICE
Equitable House
55 Pellon Lane
Halifax
West Yorkshire
England
HX1 5SP
ACCOUNTANTS
Streets Spenser Wilson (Yorkshire) Limited
Chartered accountants
Equitable House
55 Pellon Lane
Halifax
West Yorkshire
HX1 5SP
BANKERS
Santander
PO Box 382
Prescot St
London
E1 8RP
FOXBERRY (SERVICES) LTD
DIRECTOR'S REPORT
YEAR ENDED 31 MARCH 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2024 .
PRINCIPAL ACTIVITIES
The principal activity of the company during year was decorating services.
DIRECTOR
The director who served the company during the year was as follows:
L Williams
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 November 2024 and signed on behalf of the board by:
L Williams
Director
Registered office:
Equitable House
55 Pellon Lane
Halifax
West Yorkshire
England
HX1 5SP
FOXBERRY (SERVICES) LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED 31 MARCH 2024
2024
2023
Note
£
£
TURNOVER
118,414
109,254
Cost of sales
56,847
56,370
----------
----------
GROSS PROFIT
61,567
52,884
Administrative expenses
36,994
30,693
---------
---------
OPERATING PROFIT
4
24,573
22,191
Interest payable and similar expenses
6
784
570
---------
---------
PROFIT BEFORE TAXATION
23,789
21,621
Tax on profit
4,588
4,126
---------
---------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
19,201
17,495
---------
---------
Dividends paid and payable
( 19,000)
( 17,500)
RETAINED EARNINGS AT THE START OF THE YEAR
384
389
---------
---------
RETAINED EARNINGS AT THE END OF THE YEAR
585
384
---------
---------
All the activities of the company are from continuing operations.
FOXBERRY (SERVICES) LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
7
4,567
359
CURRENT ASSETS
Stocks
2,373
Debtors
8
43,677
34,076
Cash at bank and in hand
1,727
3,887
---------
---------
47,777
37,963
CREDITORS: amounts falling due within one year
9
35,812
21,259
---------
---------
NET CURRENT ASSETS
11,965
16,704
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
16,532
17,063
CREDITORS: amounts falling due after more than one year
10
1,867
3,467
PROVISIONS
868
---------
---------
NET ASSETS
13,797
13,596
---------
---------
FOXBERRY (SERVICES) LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
13,212
13,212
Profit and loss account
585
384
---------
---------
SHAREHOLDER FUNDS
13,797
13,596
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 November 2024 , and are signed on behalf of the board by:
L Williams
Director
Company registration number: 07175182
FOXBERRY (SERVICES) LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In assessing the appropriateness of the application of the going concern basis, the director has considered the uncertainties around the general economic environment, the current and future trading performance of the company and the available cash. The director have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. OPERATING PROFIT
Operating profit or loss is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
679
93
Loss on disposal of tangible assets
48
----
----
5. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024
2023
£
£
Interest on banks loans and overdrafts
162
173
Other interest payable and similar charges
622
397
----
----
784
570
----
----
7. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2023
360
564
924
Additions
4,935
4,935
Disposals
( 360)
( 360)
-------
----
-------
At 31 March 2024
4,935
564
5,499
-------
----
-------
Depreciation
At 1 April 2023
312
253
565
Charge for the year
617
62
679
Disposals
( 312)
( 312)
-------
----
-------
At 31 March 2024
617
315
932
-------
----
-------
Carrying amount
At 31 March 2024
4,318
249
4,567
-------
----
-------
At 31 March 2023
48
311
359
-------
----
-------
8. DEBTORS
2024
2023
£
£
Other debtors
43,677
34,076
---------
---------
9. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,600
1,600
Corporation tax
17,993
17,046
Social security and other taxes
13,896
305
Other creditors
2,323
2,308
---------
---------
35,812
21,259
---------
---------
10. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,867
3,467
-------
-------
11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year Mr Williams had an interest free unsecured loan from the company which is repayable on demand. The balance at the year end was £33,404 (2023 - £26,598). The maximum outstanding during the year was £87,737.
FOXBERRY (SERVICES) LTD
MANAGEMENT INFORMATION
YEAR ENDED 31 MARCH 2024
The following pages do not form part of the financial statements.
FOXBERRY (SERVICES) LTD
CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FOXBERRY (SERVICES) LTD
YEAR ENDED 31 MARCH 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Foxberry (Services) Ltd for the year ended 31 March 2024, as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Foxberry (Services) Ltd in accordance with the terms of our engagement letter dated 16 February 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Foxberry (Services) Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Foxberry (Services) Ltd and its director for our work or for this report.
It is your duty to ensure that Foxberry (Services) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Foxberry (Services) Ltd. You consider that Foxberry (Services) Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Foxberry (Services) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Streets Spenser Wilson (Yorkshire) Limited Chartered accountants
Equitable House 55 Pellon Lane Halifax West Yorkshire HX1 5SP
15 November 2024