Registered number
11182409
Candlefox Limited
Filleted Accounts for the year ended
30 June 2024
Candlefox Limited
Registered number: 11182409
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 851 9,965
Current assets
Debtors 5 543,883 464,507
Cash at bank and in hand - 16,909
543,883 481,416
Creditors: amounts falling due within one year 6 (1,853,282) (1,799,146)
Net current liabilities (1,309,399) (1,317,730)
Net liabilities (1,308,548) (1,307,765)
Capital and reserves
Called up share capital 125 125
Profit and loss account (1,308,673) (1,307,890)
Shareholder's funds (1,308,548) (1,307,765)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Z Van Der Sluys
Director
Approved by the board on 28 March 2025
Candlefox Limited
Notes to the Accounts
for the year ended 30 June 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:
Leasehold land and buildings over 3 years
Plant and machinery over 5 years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Going concern
The accounts have been prepared on the going concern basis assuming the continued support of its parent company Candlefox Group Pty Ltd.

As at 30 June 2024 Candlefox Group Pty Ltd had loaned Candlefox Limited £1,698,694 (see note 6 and 7) on an interest free basis.

Although there is no set repayment date, the company will not seek repayment of their loan until the company is in a position to be able to do so out of future cash flow generated.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
4 Tangible fixed assets
Leasehold and right of use assets Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 283,946 14,770 298,716
At 30 June 2024 283,946 14,770 298,716
Depreciation
At 1 July 2023 276,386 12,365 288,751
Charge for the year - 1,554 1,554
Right of use assets - lease 7,560 - 7,560
At 30 June 2024 283,946 13,919 297,865
Net book value
At 30 June 2024 - 851 851
At 30 June 2023 7,560 2,405 9,965
Leasehold and right of use assets are accounted for under IFRS16.
5 Debtors 2024 2023
£ £
Trade debtors 159,086 89,922
Prepayments and other debtors 13,073 12,830
Deferred tax asset 344,487 334,518
Other debtors 27,237 27,237
543,883 464,507
Amounts due after more than one year included above 27,212 27,212
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,218 -
Trade creditors 83,056 47,733
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,698,694 1,624,696
Taxation and social security costs 57,425 94,362
Lease liabilities - 7,560
Other creditors 2,889 24,795
1,853,282 1,799,146
7 Related party transactions
As at 30 June 2024, the company owed the following amounts to:

Candlefox Group Pty Ltd - £1,698,694 (2023 - £1,624,696)
This is the parent company holding 100% of the shares in Candlefox Limited.

These are included in "Amounts owed to group undertakings and undertakings in which the company has a participating interest".
8 Controlling party
As at 30 June 2024, the ultimate controlling party is Candlefox Group Pty Ltd, which holds 100% of the issued share capital in the company.

On 16 June 2024, 20% of the total company shares were transferred from Candlefox Ventures Pty Ltd as Trustee for The Candlefox Unit Trust to Candlefox Group Pty Ltd.

Candlefox Group Pty Ltd is an Australian company registered in Victoria under company number ACN 661 807 709.

The registered office address is 123 Erskine Street, Middle Park, VIC 3206
9 Other information
Candlefox Limited is a private company limited by shares and incorporated in England. Its registered office is:
58 Wood Lane
London
W12 7RZ
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