Foxwell Films Limited 09467799 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is website design and corporate videos Digita Accounts Production Advanced 6.30.9574.0 true true true 09467799 2023-04-01 2024-03-31 09467799 2024-03-31 09467799 core:CurrentFinancialInstruments 2024-03-31 09467799 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09467799 core:Goodwill 2024-03-31 09467799 core:FurnitureFittingsToolsEquipment 2024-03-31 09467799 bus:SmallEntities 2023-04-01 2024-03-31 09467799 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09467799 bus:FilletedAccounts 2023-04-01 2024-03-31 09467799 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09467799 bus:RegisteredOffice 2023-04-01 2024-03-31 09467799 bus:Director1 2023-04-01 2024-03-31 09467799 bus:Director2 2023-04-01 2024-03-31 09467799 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09467799 core:Goodwill 2023-04-01 2024-03-31 09467799 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09467799 core:ToolsEquipment 2023-04-01 2024-03-31 09467799 1 2023-04-01 2024-03-31 09467799 countries:EnglandWales 2023-04-01 2024-03-31 09467799 2023-03-31 09467799 core:Goodwill 2023-03-31 09467799 core:FurnitureFittingsToolsEquipment 2023-03-31 09467799 2022-04-01 2023-03-31 09467799 2023-03-31 09467799 core:CurrentFinancialInstruments 2023-03-31 09467799 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09467799 core:Goodwill 2023-03-31 09467799 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09467799

Foxwell Films Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Foxwell Films Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Foxwell Films Limited

Company Information

Directors

Mr W J Foxwell

Mrs S L Foxwell

Registered office

130A High Street
Crediton
Devon
EX17 3LQ

Accountants

Wortham Jaques Limited
Chartered Accountants & Business Advisers
130a High Street,
Crediton,
Devon
EX17 3LQ

 

Foxwell Films Limited

(Registration number: 09467799)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

4,400

8,800

Tangible assets

5

14,859

18,916

 

19,259

27,716

Current assets

 

Debtors

6

509

8,834

Cash at bank and in hand

 

17,416

13,193

 

17,925

22,027

Creditors: Amounts falling due within one year

7

(24,329)

(34,647)

Net current liabilities

 

(6,404)

(12,620)

Total assets less current liabilities

 

12,855

15,096

Provisions for liabilities

(2,823)

(3,594)

Net assets

 

10,032

11,502

Capital and reserves

 

Called up share capital

2

2

Retained earnings

10,030

11,500

Shareholders' funds

 

10,032

11,502

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Foxwell Films Limited

(Registration number: 09467799)
Balance Sheet as at 31 March 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

.........................................
Mr W J Foxwell
Director

 

Foxwell Films Limited

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:
130A High Street
Crediton
Devon
EX17 3LQ
ENGLAND

These financial statements were authorised for issue by the Board on 29 November 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

Foxwell Films Limited

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

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

Equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over ten years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Foxwell Films Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

 

Foxwell Films Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

44,000

44,000

At 31 March 2024

44,000

44,000

Amortisation

At 1 April 2023

35,200

35,200

Amortisation charge

4,400

4,400

At 31 March 2024

39,600

39,600

Carrying amount

At 31 March 2024

4,400

4,400

At 31 March 2023

8,800

8,800

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

43,722

43,722

Additions

895

895

At 31 March 2024

44,617

44,617

Depreciation

At 1 April 2023

24,806

24,806

Charge for the year

4,952

4,952

At 31 March 2024

29,758

29,758

Carrying amount

At 31 March 2024

14,859

14,859

At 31 March 2023

18,916

18,916

 

Foxwell Films Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

-

962

Prepayments

509

484

Other debtors

-

7,388

509

8,834

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,380

786

Accruals and deferred income

495

450

Other creditors

21,454

33,411

24,329

34,647

8

Parent and ultimate parent undertaking

The ultimate controlling party is directors.