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Registration number: 02777067

Foxdale Management Limited
trading as
HB Catering and Refrigeration


Annual Report and Financial Statements
for the Year Ended 30 April 2024

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

Company Information

Director

Mrs Jacquline Victoria Bagshawe Jenkins

Registered office

Unit 1,
Llwyn Y Graig
Garngoch Industrial Estate Gorseinon, Swansea.
Swansea
SA4 9WG

Accountants

ACT Accountants
Chartered Certified Accountant
8 Gwscwm Park
Burry Port
Carmarthenshire
SA16 0DX

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

(Registration number: 02777067)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

36,757

50,737

Current assets

 

Stocks

5

358,000

324,000

Debtors

6

339,419

481,327

Cash at bank and in hand

 

2,748

1,158

 

700,167

806,485

Creditors: Amounts falling due within one year

7

(815,661)

(912,337)

Net current liabilities

 

(115,494)

(105,852)

Total assets less current liabilities

 

(78,737)

(55,115)

Creditors: Amounts falling due after more than one year

7

(58,653)

(86,852)

Provisions for liabilities

(5,497)

(7,827)

Net liabilities

 

(142,887)

(149,794)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(142,987)

(149,894)

Shareholders' deficit

 

(142,887)

(149,794)

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

(Registration number: 02777067)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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 her 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 3 January 2025
 

.........................................
Mrs Jacquline Victoria Bagshawe Jenkins
Director

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Unit 1,
Llwyn Y Graig
Garngoch Industrial Estate Gorseinon, Swansea.
Swansea
SA4 9WG

These financial statements were authorised for issue by the director on 3 January 2025.

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 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.

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.

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

Leasehold land and buildings

5% straight line

Plant and machinery

20% straight line

Motor vehicles

15% straight line

Computer equipment

33% straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 22 (2023 - 23).

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

10,161

28,786

296,297

92,573

427,817

Additions

-

-

-

5,432

5,432

At 30 April 2024

10,161

28,786

296,297

98,005

433,249

Depreciation

At 1 May 2023

8,132

28,657

265,133

75,158

377,080

Charge for the year

292

129

11,674

7,317

19,412

At 30 April 2024

8,424

28,786

276,807

82,475

396,492

Carrying amount

At 30 April 2024

1,737

-

19,490

15,530

36,757

At 30 April 2023

2,029

129

31,164

17,415

50,737

Included within the net book value of land and buildings above is £1,737 (2023 - £2,029) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

358,000

324,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

332,546

472,050

Other debtors

6,873

9,277

 

339,419

481,327

 

Foxdale Management Limited
trading as HB Catering and Refrigeration

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

136,610

316,608

Trade creditors

 

443,475

396,140

Taxation and social security

 

178,187

159,687

Other creditors

 

57,389

39,902

 

815,661

912,337

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £406 (2023 - £10,054).

Other creditors include £3,576 (2023 - £7451) owed to the directors and shareholders.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

58,653

86,852

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £ Nil (2022 - £1,355).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Foxdale Management Limited
trading as HB Catering and Refrigeration

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

47,222

63,889

Hire purchase contracts

-

1,355

Other borrowings

11,431

21,608

58,653

86,852

Current loans and borrowings

2024
£

2023
£

Bank borrowings

16,667

16,667

Bank overdrafts

12,103

16,801

Hire purchase contracts

406

10,054

Other borrowings

107,434

273,086

136,610

316,608

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil per each Ordinary

-

-

 

 

11

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,000

33,000

Contributions paid to money purchase schemes

1,320

4,570

13,320

37,570