1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 7,824 5,811 500 6,311 1,513 2,013 xbrli:pure xbrli:shares iso4217:GBP SC546669 2023-10-01 2024-09-30 SC546669 2024-09-30 SC546669 2023-09-30 SC546669 2022-10-01 2023-09-30 SC546669 2023-09-30 SC546669 2022-09-30 SC546669 bus:Director1 2023-10-01 2024-09-30 SC546669 core:WithinOneYear 2024-09-30 SC546669 core:WithinOneYear 2023-09-30 SC546669 core:AfterOneYear 2024-09-30 SC546669 core:AfterOneYear 2023-09-30 SC546669 core:ShareCapital 2024-09-30 SC546669 core:ShareCapital 2023-09-30 SC546669 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC546669 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC546669 core:BetweenOneFiveYears 2023-09-30 SC546669 bus:Director1 2023-09-30 SC546669 bus:Director1 2024-09-30 SC546669 bus:Director1 2022-09-30 SC546669 bus:Director1 2023-09-30 SC546669 bus:Director1 2022-10-01 2023-09-30 SC546669 bus:SmallEntities 2023-10-01 2024-09-30 SC546669 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC546669 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC546669 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC546669 bus:FullAccounts 2023-10-01 2024-09-30 SC546669 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 SC546669 core:FurnitureFittingsToolsEquipment 2024-09-30 SC546669 core:FurnitureFittingsToolsEquipment 2023-09-30
COMPANY REGISTRATION NUMBER: SC546669
Red Fox Global Limited
Filleted Unaudited Financial Statements
30 September 2024
Red Fox Global Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,513
2,013
Current assets
Debtors
6
26,414
39,169
Cash at bank and in hand
13,818
--------
--------
26,414
52,987
Creditors: amounts falling due within one year
7
12,844
39,287
--------
--------
Net current assets
13,570
13,700
--------
--------
Total assets less current liabilities
15,083
15,713
Creditors: amounts falling due after more than one year
8
9,817
14,429
Provisions
287
382
--------
--------
Net assets
4,979
902
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
4,879
802
-------
----
Shareholders funds
4,979
902
-------
----
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 30 September 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Red Fox Global Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 1 July 2025 , and are signed on behalf of the board by:
Mr E Roberts
Director
Company registration number: SC546669
Red Fox Global Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 1 Joseph Cumming Gardens, Broxburn, EH52 5AN, Scotland.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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.
Income tax
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
25% 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments, which includes debtors, cash in hand and bank and trade creditors, 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 October 2023 and 30 September 2024
7,824
-------
Depreciation
At 1 October 2023
5,811
Charge for the year
500
-------
At 30 September 2024
6,311
-------
Carrying amount
At 30 September 2024
1,513
-------
At 30 September 2023
2,013
-------
6. Debtors
2024
2023
£
£
Trade debtors
25,666
Other debtors
26,414
13,503
--------
--------
26,414
39,169
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,409
4,203
Trade creditors
1,837
Corporation tax
4,335
18,376
Social security and other taxes
15,346
Other creditors
13
12
Other creditors
1,250
1,350
--------
--------
12,844
39,287
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,817
14,429
-------
--------
The bounceback loan is interest free until 15 May 2021, thereafter interest is at 2.5% per annum.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
6,423
8,564
Later than 1 year and not later than 5 years
6,423
-------
--------
6,423
14,987
-------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr E Roberts
12,536
40,668
( 28,843)
24,361
--------
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr E Roberts
28,705
13,534
( 29,703)
12,536
--------
--------
--------
--------
Interest is charged on this loan at 2.25%, interest received during the year amounted to £832 (2023 - £534). There are no definite terms of repayment.