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Registered number: 01567199
Foxheath Limited
Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01567199
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 30,000 35,000
Tangible Assets 5 9,283 9,896
39,283 44,896
CURRENT ASSETS
Stocks 6 161,039 80,106
Debtors 7 93,499 90,782
Cash at bank and in hand 70 51,768
254,608 222,656
Creditors: Amounts Falling Due Within One Year 8 (250,534 ) (214,149 )
NET CURRENT ASSETS (LIABILITIES) 4,074 8,507
TOTAL ASSETS LESS CURRENT LIABILITIES 43,357 53,403
Creditors: Amounts Falling Due After More Than One Year 9 (13,029 ) (22,501 )
NET ASSETS 30,328 30,902
CAPITAL AND RESERVES
Called up share capital 10 139 139
Share premium account 29,968 29,968
Profit and Loss Account 221 795
SHAREHOLDERS' FUNDS 30,328 30,902
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For the year ending 30 November 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 Morris
Director
17 January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Foxheath Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01567199 . The registered office is Damer House, Meadow Way, Wickford, Essex, SS12 9HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes, and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and 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:
Freehold No depreciation provided
Plant & Machinery 15% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The directors undertake an annual impairment review of these properties.
2.5. 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.
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2.6. Taxation
Taxation represents the sum of the tax currently payable and deferred tax.
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. 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.
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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 10 (2023: 7)
10 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 100,000
As at 30 November 2024 100,000
Amortisation
As at 1 December 2023 65,000
Provided during the period 5,000
As at 30 November 2024 70,000
Net Book Value
As at 30 November 2024 30,000
As at 1 December 2023 35,000
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5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 December 2023 86,070
Additions 2,135
As at 30 November 2024 88,205
Depreciation
As at 1 December 2023 76,174
Provided during the period 2,748
As at 30 November 2024 78,922
Net Book Value
As at 30 November 2024 9,283
As at 1 December 2023 9,896
6. Stocks
2024 2023
£ £
Finished goods 161,039 80,106
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,655 -
Other debtors 90,844 90,782
93,499 90,782
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 128,434 184,128
Bank loans and overdrafts 59,702 10,000
Other creditors 8,498 3,818
Taxation and social security 53,900 16,203
250,534 214,149
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,029 22,501
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 139 139
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