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Registered number: 08472905
Fox Bear Ltd
Unaudited Financial Statements
For the Period 1 August 2023 to 30 September 2024
Halls Accounting
Chartered Accountants
The Old Bank, 257 New Church Road
Hove
East Sussex
BN3 4EL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08472905
30 September 2024 31 July 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 11,115
- 11,115
CURRENT ASSETS
Stocks 5 - 6,000
Debtors 6 26,394 226,143
Cash at bank and in hand 77,055 75,272
103,449 307,415
Creditors: Amounts Falling Due Within One Year 7 (69,483 ) (106,821 )
NET CURRENT ASSETS (LIABILITIES) 33,966 200,594
TOTAL ASSETS LESS CURRENT LIABILITIES 33,966 211,709
NET ASSETS 33,966 211,709
CAPITAL AND RESERVES
Called up share capital 8 92 100
Capital redemption reserve 8 -
Profit and Loss Account 33,866 211,609
SHAREHOLDERS' FUNDS 33,966 211,709
Page 1
Page 2
For the period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Dempster
Director
12/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fox Bear Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08472905 . The registered office is The Old Bank, 257 New Church Road, Hove, East Sussex, BN3 4EL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard
102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the
provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have
been prepared under the historical cost convention.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 18 (2023: 18)
18 18
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 15,205 63,473 78,678
Additions - 4,437 4,437
Disposals (15,205 ) (67,910 ) (83,115 )
As at 30 September 2024 - - -
Depreciation
As at 1 August 2023 11,177 56,386 67,563
Disposals (11,177 ) (56,386 ) (67,563 )
As at 30 September 2024 - - -
Net Book Value
As at 30 September 2024 - - -
As at 1 August 2023 4,028 7,087 11,115
5. Stocks
30 September 2024 31 July 2023
£ £
Work in progress - 6,000
Page 4
Page 5
6. Debtors
30 September 2024 31 July 2023
£ £
Due within one year
Trade debtors 30,368 200,858
Other debtors 7,182 7,183
Corporation tax recoverable assets 6,090 -
Intercompany (17,246 ) 18,102
26,394 226,143
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 31 July 2023
£ £
Trade creditors (7,392 ) 13,443
Corporation tax - 28,473
Other taxes and social security 22,893 19,979
VAT 39,052 33,064
Other creditors 482 3,633
Pension 4,058 1,097
Accruals and deferred income 3,110 6,060
Directors' loan accounts 7,280 1,072
69,483 106,821
8. Share Capital
30 September 2024 31 July 2023
£ £
Allotted, Called up and fully paid 92 100
Page 5