Registered number
13643973
Fox Automation Ltd
Filleted Accounts
30 September 2024
Fox Automation Ltd
Registered number: 13643973
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 41,534 2,820
Current assets
Stocks - 4,905
Debtors 4 126,313 42,550
Cash at bank and in hand 36,280 42,078
162,593 89,533
Creditors: amounts falling due within one year 5 (103,533) (62,572)
Net current assets 59,060 26,961
Total assets less current liabilities 100,594 29,781
Creditors: amounts falling due after more than one year 6 (33,032) -
Net assets 67,562 29,781
Capital and reserves
Called up share capital 200 200
Profit and loss account 67,362 29,581
Shareholders' funds 67,562 29,781
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Pryce
Director
Approved by the board on 10 January 2025
Fox Automation Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 4,427 - 4,427
Additions 1,325 51,235 52,560
At 30 September 2024 5,752 51,235 56,987
Depreciation
At 1 October 2023 1,607 - 1,607
Charge for the year 1,037 12,809 13,846
At 30 September 2024 2,644 12,809 15,453
Net book value
At 30 September 2024 3,108 38,426 41,534
At 30 September 2023 2,820 - 2,820
4 Debtors 2024 2023
£ £
Trade debtors 125,251 42,332
Other debtors 1,062 218
126,313 42,550
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,258 -
Trade creditors 32,715 132
Taxation and social security costs 40,964 35,373
Accruals 12,182 2,921
Directors loan accounts 9,038 24,146
Other creditors 376 -
103,533 62,572
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 33,032 -
7 Controlling party
The company is controlled by the directors who own 100% of the issued share capital.
8 Other information
Fox Automation Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Hillside Drive
Shrewsbury
Shropshire
SY2 5LW
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