BrightAccountsProduction v1.0.0 v1.0.0 2023-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the fit out and installation of electrical systems. 15 April 2025 NI625965 2024-08-31 NI625965 2023-08-31 NI625965 2022-08-31 NI625965 2023-09-01 2024-08-31 NI625965 2022-09-01 2023-08-31 NI625965 uk-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI625965 uk-curr:PoundSterling 2023-09-01 2024-08-31 NI625965 uk-bus:AbridgedAccounts 2023-09-01 2024-08-31 NI625965 uk-core:ShareCapital 2024-08-31 NI625965 uk-core:ShareCapital 2023-08-31 NI625965 uk-core:RetainedEarningsAccumulatedLosses 2024-08-31 NI625965 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI625965 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-08-31 NI625965 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI625965 uk-bus:FRS102 2023-09-01 2024-08-31 NI625965 uk-core:PlantMachinery 2023-09-01 2024-08-31 NI625965 uk-core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 NI625965 uk-core:MotorVehicles 2023-09-01 2024-08-31 NI625965 uk-core:ParentEntities 2023-09-01 2024-08-31 NI625965 uk-countries:NorthernIreland 2023-09-01 2024-08-31 NI625965 uk-bus:Director1 2023-09-01 2024-08-31 NI625965 uk-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Fox Electrical Contracts Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 August 2024



Fox Electrical Contracts Ltd
Company Registration Number: NI625965
ABRIDGED BALANCE SHEET
as at 31 August 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 94,076 69,370
───────── ─────────
 
Current Assets
Stocks 317,719 628,938
Debtors 619,386 330,514
Cash and cash equivalents 1,714,232 491,572
───────── ─────────
2,651,337 1,451,024
───────── ─────────
Creditors: amounts falling due within one year (1,802,434) (905,374)
───────── ─────────
Net Current Assets 848,903 545,650
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Total Assets less Current Liabilities 942,979 615,020
 
Creditors:
amounts falling due after more than one year (50,844) (118,636)
 
Provisions for liabilities (23,926) (13,181)
───────── ─────────
Net Assets 868,209 483,203
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 868,109 483,103
───────── ─────────
Shareholders' Funds 868,209 483,203
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 15 April 2025
           
           
________________________________          
Mr. Mark Gerald Fox          
Director          
           



Fox Electrical Contracts Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 August 2024

   
1. General Information
 
Fox Electrical Contracts Ltd is a private company limited by shares incorporated in Northern Ireland. 27 Mullyard Road, Derrynoose, Keady, Co. Armagh, BT60 3HH, Northern Ireland is the registered office, which is also the principal place of business of the company.
The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. The company number is NI625965.
These financial statements cover the individual entity for the year ended 31st August 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 August 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods and services supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 25% Reducing Balance
  Fixtures, fittings and equipment - 25% Reducing Balance
  Motor vehicles - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was as follows:
 
  2024 2023
  Number Number
 
Director 1 1
Employees 23 20
  ───────── ─────────
  24 21
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 September 2023 5,070 21,523 82,925 109,518
Additions 13,500 23,149 11,562 48,211
  ───────── ───────── ───────── ─────────
At 31 August 2024 18,570 44,672 94,487 157,729
  ───────── ───────── ───────── ─────────
Depreciation
At 1 September 2023 3,502 4,120 32,526 40,148
Charge for the financial year 673 7,342 15,490 23,505
  ───────── ───────── ───────── ─────────
At 31 August 2024 4,175 11,462 48,016 63,653
  ───────── ───────── ───────── ─────────
Net book value
At 31 August 2024 14,395 33,210 46,471 94,076
  ═════════ ═════════ ═════════ ═════════
At 31 August 2023 1,568 17,403 50,399 69,370
  ═════════ ═════════ ═════════ ═════════
       
5. Details of creditors
 
Security given in respect of creditors
The company has given security on borrowings by way of a fixed and floating charge over the assets of the company. This security also contains a negative pledge. Secured borrowings as at 31st August 2024 total £118,635. (2023: £181,136.).
   
6. Parent company
 
The company regards FEC Development Group Limited, a company registered in Northern Ireland, as its parent company. The address of FEC Development Group Ltd is 27 Mullyard Road, Derrynoose, Keady, Co.Armagh, BT60 3HH. FEC Development Group Limited is regarded as both the controlling party and the ultimate controlling party.
 
       
7. Pension commitments
 
The company operates a defined contribution pension scheme for employees.  The assets of the scheme are held separately from those of the company in an independently administered fund.  At 31st August 2024 unpaid contributions of £1,363 (2023: £360) were due to the pension provider. This is included in creditors: amounts falling due within one year.