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COMPANY REGISTRATION NUMBER: 10853012
Fox-Davies Arts Limited
Filleted Unaudited Financial Statements
29 February 2024
Fox-Davies Arts Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Officers and professional advisers
1
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Fox-Davies Arts Limited
Officers and Professional Advisers
Director
S Caldwell Fox-Davies
Registered Office
37a Birmingham New Road
Wolverhampton
West Midlands
WV4 6BL
Accountants
Howell Davies Limited
Chartered accountants
Tudor House
37a Birmingham New Road
Wolverhampton
West Midlands
WV4 6BL
Fox-Davies Arts Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Fox-Davies Arts Limited
Year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fox-Davies Arts Limited for the year ended 29 February 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
Howell Davies Limited Chartered accountants
Tudor House 37a Birmingham New Road Wolverhampton West Midlands WV4 6BL
22 May 2025
Fox-Davies Arts Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
5
1,658
3,784
Current Assets
Stocks
89,141
97,254
Debtors
6
1,150
12,804
Cash at bank and in hand
11,100
243
---------
---------
101,391
110,301
Creditors: amounts falling due within one year
7
21,860
29,601
---------
---------
Net Current Assets
79,531
80,700
--------
--------
Total Assets Less Current Liabilities
81,189
84,484
Creditors: amounts falling due after more than one year
8
179,262
164,972
---------
---------
Net Liabilities
( 98,073)
( 80,488)
---------
---------
Capital and Reserves
Called up share capital
2
2
Profit and loss account
( 98,075)
( 80,490)
--------
--------
Shareholders Deficit
( 98,073)
( 80,488)
--------
--------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Fox-Davies Arts Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
S Caldwell Fox-Davies
Director
Company registration number: 10853012
Fox-Davies Arts Limited
Notes to the Financial Statements
Year ended 29 February 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 37a Birmingham New Road, Wolverhampton, West Midlands, WV4 6BL.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible Assets
Tangible assets are initially recorded at cost.
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:
Fixtures and fittings
-
25% straight line
Computer equipment
-
33% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 1 ).
5. Tangible Assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 March 2023 and 29 February 2024
3,946
3,422
7,368
-------
-------
-------
Depreciation
At 1 March 2023
1,691
1,893
3,584
Charge for the year
986
1,140
2,126
-------
-------
-------
At 29 February 2024
2,677
3,033
5,710
-------
-------
-------
Carrying amount
At 29 February 2024
1,269
389
1,658
-------
-------
-------
At 28 February 2023
2,255
1,529
3,784
-------
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
1,150
12,804
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,800
21,803
Social security and other taxes
1,210
1,798
Other creditors
7,850
6,000
--------
--------
21,860
29,601
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
179,262
164,972
---------
---------