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20 May 2025
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No description of principal activity
2023-07-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
SC176400
2023-07-01
2024-06-30
SC176400
2024-06-30
SC176400
2023-06-30
SC176400
2022-07-01
2023-06-30
SC176400
2023-06-30
SC176400
2022-06-30
SC176400
core:PlantMachinery
2023-07-01
2024-06-30
SC176400
bus:Director4
2023-07-01
2024-06-30
SC176400
bus:Director5
2023-07-01
2024-06-30
SC176400
core:WithinOneYear
2024-06-30
SC176400
core:WithinOneYear
2023-06-30
SC176400
core:AfterOneYear
2024-06-30
SC176400
core:AfterOneYear
2023-06-30
SC176400
core:ShareCapital
2024-06-30
SC176400
core:ShareCapital
2023-06-30
SC176400
core:RetainedEarningsAccumulatedLosses
2024-06-30
SC176400
core:RetainedEarningsAccumulatedLosses
2023-06-30
SC176400
bus:SmallEntities
2023-07-01
2024-06-30
SC176400
bus:Audited
2023-07-01
2024-06-30
SC176400
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
SC176400
bus:PrivateLimitedCompanyLtd
2023-07-01
2024-06-30
SC176400
bus:AbridgedAccounts
2023-07-01
2024-06-30
COMPANY REGISTRATION NUMBER:
SC176400
|
Filleted Abridged Financial Statements |
|
|
Abridged Financial Statements |
|
Year ended 30 June 2024
|
Abridged statement of financial position |
1 |
|
|
|
Notes to the abridged financial statements |
3 |
|
|
|
Abridged Statement of Financial Position |
|
30 June 2024
Fixed assets
|
Tangible assets |
5 |
161,632 |
196,106 |
|
|
|
|
Current assets
|
Debtors |
(
91) |
689,000 |
|
Cash at bank and in hand |
1,158,084 |
209,456 |
|
------------ |
--------- |
|
1,157,993 |
898,456 |
|
|
|
|
Creditors: amounts falling due within one year |
120,175 |
75,874 |
|
------------ |
--------- |
|
Net current assets |
1,037,818 |
822,582 |
|
------------ |
------------ |
|
Total assets less current liabilities |
1,199,450 |
1,018,688 |
|
|
|
|
Creditors: amounts falling due after more than one year |
30,949 |
44,615 |
|
|
|
|
Provisions |
18,471 |
25,689 |
|
------------ |
------------ |
|
Net assets |
1,150,030 |
948,384 |
|
------------ |
------------ |
|
|
|
|
Abridged Statement of Financial Position (continued) |
|
30 June 2024
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
1,149,930 |
948,284 |
|
------------ |
--------- |
|
Shareholder funds |
1,150,030 |
948,384 |
|
------------ |
--------- |
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
20 May 2025
, and are signed on behalf of the board by:
|
Mr D Mackenzie |
Mr R Mackenzie |
|
Director |
Director |
|
|
Company registration number:
SC176400
|
Notes to the Abridged Financial Statements |
|
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Block 6, Units 25/26, Stirling Road, Chapelhall Industrial Estate, Chapelhall, Airdrie, ML6 8QH.
2.
Statement of compliance
These abridged 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.
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 Fox Construction (Holdings) Ltd which can be obtained from companies house. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company. No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
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 of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
15% reducing balance |
|
|
|
|
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 July 2023 |
295,348 |
|
Disposals |
(
17,500) |
|
--------- |
|
At 30 June 2024 |
277,848 |
|
--------- |
|
Depreciation |
|
|
At 1 July 2023 |
99,242 |
|
Charge for the year |
29,121 |
|
Disposals |
(
12,147) |
|
--------- |
|
At 30 June 2024 |
116,216 |
|
--------- |
|
Carrying amount |
|
|
At 30 June 2024 |
161,632 |
|
--------- |
|
At 30 June 2023 |
196,106 |
|
--------- |
|
|
6.
Charges on assets
Creditors include net obligations under finance lease and hire purchase contracts which are secured of £45,181 (2023: £73,611).
7.
Summary audit opinion
The auditor's report dated
20 May 2025
was
unqualified
.
The senior statutory auditor was
Alan Kerr BA CA
, for and on behalf of
I A Stewart & Co Limited
.
8.
Related party transactions
During the year there were sales of £357,990 (23:£276,392) to Wgerd Ltd and a balance of £nil (23:£600,000) due from Wgerd Ltd. During the year there were sales of £nil (23:£nil) to Fox Construction Holdings Ltd and a balance of £1,000 (23:£1,000) due to Fox Construction Holdings Ltd. Both companies being part of the Fox Construction Group and ultimately controlled and owned by the same persons.
9.
Controlling party
The ultimate parent company is
Fox Construction (Holdings) Limited
which is incorporated in Scotland and whose registered address is Block 6, Units 25/26, Stirling Road, Chapelhall Industrial Estate, Chapelhall, ML6 8QH.