0 false false false false false false false false false false true false false true false true true true No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 80,567 2,649 67,345 1,050 829 67,566 52,056 7,629 829 58,856 8,710 15,289 xbrli:pure xbrli:shares iso4217:GBP SC180270 2024-01-01 2024-12-31 SC180270 2024-12-31 SC180270 2023-12-31 SC180270 2023-01-01 2023-12-31 SC180270 2023-12-31 SC180270 2022-12-31 SC180270 core:PlantMachinery 2024-01-01 2024-12-31 SC180270 bus:RegisteredOffice 2024-01-01 2024-12-31 SC180270 bus:LeadAgentIfApplicable 2024-01-01 2024-12-31 SC180270 bus:Director2 2024-01-01 2024-12-31 SC180270 core:PlantMachinery 2023-12-31 SC180270 core:PlantMachinery 2024-12-31 SC180270 core:WithinOneYear 2024-12-31 SC180270 core:WithinOneYear 2023-12-31 SC180270 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC180270 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC180270 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC180270 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC180270 core:ShareCapital 2024-12-31 SC180270 core:ShareCapital 2023-12-31 SC180270 core:PlantMachinery 2023-12-31 SC180270 bus:SmallEntities 2024-01-01 2024-12-31 SC180270 bus:Audited 2024-01-01 2024-12-31 SC180270 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC180270 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC180270 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: SC180270
Foxteq (UK) Ltd
Financial Statements
31 December 2024
Foxteq (UK) Ltd
Financial Statements
Year ended 31 December 2024
Contents
Page
Director's report
1
Independent auditor's report to the members
3
Statement of income and retained earnings
7
Statement of financial position
8
Notes to the financial statements
9
Foxteq (UK) Ltd
Director's Report
Year ended 31 December 2024
The director presents his report and the financial statements of the company for the year ended 31 December 2024 .
Director
The director who served the company during the year was as follows:
Q Sun
Director's responsibilities statement
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 September 2025 and signed on behalf of the board by:
Q Sun
Director
Registered office:
13 Queens Road
Aberdeen
AB15 4YL
Foxteq (UK) Ltd
Independent Auditor's Report to the Members of Foxteq (UK) Ltd
Year ended 31 December 2024
Opinion
We have audited the financial statements of Foxteq (UK) Ltd (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the director's report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the director's report and from the requirement to prepare a strategic report.
Responsibilities of the director
As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Irregularities- ability to detect We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general auditing and accounting experience and through discussion with the directors and other management (as required by auditing standards), the polices and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statement, for instance through the imposition of fines or litigation. We indemnified areas as those most likely to have such an effect such as anti bribery and certain aspects of company legislation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. The audit engagement team identified the risk of management override of controls and revenue recognition around cut off as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed in relation to the risk of management override of controls included, but were not limited to, testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions entered into outside the normal course of business. Audit procedures performed in relation to the cut off risk of revenue recognition included testing revenue transactions around the year end to assess if they were recognised in the correct period. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report
This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Thomas William McManners Bsc ACA ACMI
(Senior Statutory Auditor)
For and on behalf of
TTCA Ltd
Chartered accountants & statutory auditor
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
30 September 2025
Foxteq (UK) Ltd
Statement of Income and Retained Earnings
Year ended 31 December 2024
2024
2023
Note
£
£
Turnover
100,138
110,321
---------
---------
Gross profit
100,138
110,321
Administrative expenses
15,574
102,773
---------
---------
Operating profit
84,564
7,548
Other interest receivable and similar income
24,081
18,642
---------
---------
Profit before taxation
4
108,645
26,190
Tax on profit
28,078
28,839
---------
--------
Profit/(loss) for the financial year and total comprehensive income
80,567
( 2,649)
---------
--------
Retained earnings at the start of the year
568,229
570,878
---------
---------
Retained earnings at the end of the year
648,796
568,229
---------
---------
All the activities of the company are from continuing operations.
Foxteq (UK) Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
8,710
15,289
Current assets
Debtors
6
216,222
169,916
Cash at bank and in hand
587,552
562,260
---------
---------
803,774
732,176
Creditors: amounts falling due within one year
7
63,453
78,351
---------
---------
Net current assets
740,321
653,825
---------
---------
Total assets less current liabilities
749,031
669,114
Provisions
235
885
---------
---------
Net assets
748,796
668,229
---------
---------
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss account
648,796
568,229
---------
---------
Shareholders funds
748,796
668,229
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:
Q Sun
Director
Company registration number: SC180270
Foxteq (UK) Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Queens Road, Aberdeen, AB15 4YL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Hon Hai Precision Industry Co Limited which can be obtained from the parent company at Tzu Yu St, Tu-Cheng City, Taipei Hsien, 23606, Taiwan, R.O.C. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. In addition the company is also exempt under the terms of Financial Reporting Standard 102 from disclosing transactions with entities that are part of the Hon Hai Precision Industry Co Limited Group.
Revenue recognition
The company acts as an agent for processing payments of companies within the Hon Hai Precision Industry Co Limited Group. These payments and corresponding disbursement are not treated as the activity of the company. Turnover is measured at the fair value of the commission charged for the processing of payments and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
4. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
7,629
7,936
-------
-------
5. Tangible assets
Plant and machinery
£
Cost
At 1 January 2024
67,345
Additions
1,050
Disposals
( 829)
--------
At 31 December 2024
67,566
--------
Depreciation
At 1 January 2024
52,056
Charge for the year
7,629
Disposals
( 829)
--------
At 31 December 2024
58,856
--------
Carrying amount
At 31 December 2024
8,710
--------
At 31 December 2023
15,289
--------
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
197,743
149,796
Other debtors
18,479
20,120
---------
---------
216,222
169,916
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
12,783
17,138
Social security and other taxes
36,629
48,866
Other creditors
14,041
12,347
--------
--------
63,453
78,351
--------
--------
8. Controlling party
The ultimate parent company and controlling party is Hon Hai Precision Industry Co Limited, which is incorporated in Taiwan, R.O.C. Copies of the ultimate parent company accounts are available from: No.2 Zihyou St Tucheng Dist New Taipei City 236 Taiwan