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Company No: 14327512 (England and Wales)

FOXY INDUSTRIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

FOXY INDUSTRIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

FOXY INDUSTRIES LIMITED

BALANCE SHEET

As at 31 August 2024
FOXY INDUSTRIES LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 19,901 22,112
Tangible assets 4 17,846 10,701
37,747 32,813
Current assets
Stocks 995 0
Debtors 5 100 559
Cash at bank and in hand 7,099 8,138
8,194 8,697
Creditors: amounts falling due within one year 6 ( 41,044) ( 30,942)
Net current liabilities (32,850) (22,245)
Total assets less current liabilities 4,897 10,568
Provision for liabilities ( 4,462) ( 2,617)
Net assets 435 7,951
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 335 7,851
Total shareholder's funds 435 7,951

For the financial year ending 31 August 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 financial statements of Foxy Industries Limited (registered number: 14327512) were approved and authorised for issue by the Director on 30 June 2025. They were signed on its behalf by:

Mr R A Mackenzie
Director
FOXY INDUSTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
FOXY INDUSTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Foxy Industries Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. [MANUFACTURERS, ETC - Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.] Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 September 2023 24,513 24,513
At 31 August 2024 24,513 24,513
Accumulated amortisation
At 01 September 2023 2,401 2,401
Charge for the financial year 2,211 2,211
At 31 August 2024 4,612 4,612
Net book value
At 31 August 2024 19,901 19,901
At 31 August 2023 22,112 22,112

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 September 2023 10,836 10,836
Additions 9,885 9,885
At 31 August 2024 20,721 20,721
Accumulated depreciation
At 01 September 2023 135 135
Charge for the financial year 2,740 2,740
At 31 August 2024 2,875 2,875
Net book value
At 31 August 2024 17,846 17,846
At 31 August 2023 10,701 10,701

5. Debtors

2024 2023
£ £
VAT recoverable 0 459
Other debtors 100 100
100 559

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 913 0
Amounts owed to associates 34,388 30,042
Accruals 950 900
Other taxation and social security 886 0
Other creditors 3,907 0
41,044 30,942

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100