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REGISTERED NUMBER: 11053194 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

WOLFOX LIMITED

WOLFOX LIMITED (REGISTERED NUMBER: 11053194)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOLFOX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: F Lauro





REGISTERED OFFICE: 26b Eaton Road
Hove
BN3 3PJ





BUSINESS ADDRESS: 26B Eaton Road
Hove
East Sussex
BN3 3PJ





REGISTERED NUMBER: 11053194 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

WOLFOX LIMITED (REGISTERED NUMBER: 11053194)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,030
Tangible assets 5 679,592 433,356
679,592 434,386

CURRENT ASSETS
Stocks 6,600 6,600
Debtors 6 361,463 378,278
Cash at bank and in hand 18,490 852
386,553 385,730
CREDITORS
Amounts falling due within one year 7 2,159,806 989,151
NET CURRENT LIABILITIES (1,773,253 ) (603,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,093,661

)

(169,035

)

CREDITORS
Amounts falling due after more than one
year

8

216,923

206,498
NET LIABILITIES (1,310,584 ) (375,533 )

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings (1,310,585 ) (375,534 )
SHAREHOLDERS' FUNDS (1,310,584 ) (375,533 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WOLFOX LIMITED (REGISTERED NUMBER: 11053194)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2025 and were signed by:





F Lauro - Director


WOLFOX LIMITED (REGISTERED NUMBER: 11053194)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Wolfox Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the 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.

The accounts have been prepared on a going concern basis as the director believes that the company has the ability to meet its liabilities as they arise in the next twelve months. The director has also indicated his willingness to continue to support the company.

Turnover
Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for customer refunds and excludes value added tax.

Revenue from food and drink outlets is recognised at the point of sale.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


WOLFOX LIMITED (REGISTERED NUMBER: 11053194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Lease incentives
Lease incentives are spread on a straight line basis over the length of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 1 5,300 5,301
AMORTISATION
At 1 March 2023 1 4,270 4,271
Charge for year - 1,030 1,030
At 29 February 2024 1 5,300 5,301
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 - 1,030 1,030

WOLFOX LIMITED (REGISTERED NUMBER: 11053194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 March 2023 101,487 315,490 260,051
Additions - - 370,608
At 29 February 2024 101,487 315,490 630,659
DEPRECIATION
At 1 March 2023 16,329 146,274 89,879
Charge for year 8,804 42,308 72,596
At 29 February 2024 25,133 188,582 162,475
NET BOOK VALUE
At 29 February 2024 76,354 126,908 468,184
At 28 February 2023 85,158 169,216 170,172

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 9,972 4,453 691,453
Additions - 2,124 372,732
At 29 February 2024 9,972 6,577 1,064,185
DEPRECIATION
At 1 March 2023 4,050 1,565 258,097
Charge for year 1,480 1,308 126,496
At 29 February 2024 5,530 2,873 384,593
NET BOOK VALUE
At 29 February 2024 4,442 3,704 679,592
At 28 February 2023 5,922 2,888 433,356

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 12,878 -
Amounts owed by connected companies 68,074 109,571
Other debtors 99,273 87,469
180,225 197,040

Amounts falling due after more than one year:
Other debtors 181,238 181,238

Aggregate amounts 361,463 378,278

WOLFOX LIMITED (REGISTERED NUMBER: 11053194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,320 569
Amounts owed to connected companies 188,608 157,275
Taxation and social security 91,278 121,285
Other creditors 1,865,600 700,022
2,159,806 989,151

Included in other creditors is an amount due in respect of lease incentives at the year end of £16,937 (2023: £8,048).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,500 22,500
Other creditors 204,423 183,998
216,923 206,498

Included in other creditors is an amount due in respect of lease incentives at the year end of £196,923 (2023: £176,498).

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 500,100 335,100
Between one and five years 1,984,300 1,313,561
In more than five years 2,103,627 1,147,947
4,588,027 2,796,608

10. PROVISIONS FOR LIABILITIES
Other
provisions
£   
Balance at 1 March 2023 30,000
Balance at 29 February 2024 30,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

WOLFOX LIMITED (REGISTERED NUMBER: 11053194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


12. RELATED PARTY DISCLOSURES

Amounts due to related parties

The following amounts were outstanding at the reporting end date:

Connected companies 2024: £188,608 (2023: £157,275)

Amounts due from related parties

The following amounts were outstanding at the reporting end date:

Connected companies 2024: £68,074 (2023: £109,571)