| FOXBAY LIMITED | |||||||||||
| UNAUDITED FINANCIAL STATEMENTS | |||||||||||
| FOR THE YEAR ENDED | |||||||||||
| 31 DECEMBER 2024 | |||||||||||
| Company Registration Number: 11711091 | |||||||||||
| FOXBAY LIMITED | |||||||||||
| UNAUDITED FINANCIAL STATEMENTS | |||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | |||||||||||
| CONTENTS | PAGES | ||||||||||
| Company information | 1 | ||||||||||
| Balance sheet | 2 to 3 | ||||||||||
| Notes to the financial statements | 4 to 9 | ||||||||||
| FOXBAY LIMITED | |||||||||||
| COMPANY INFORMATION | |||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | |||||||||||
| DIRECTOR | |||||||||||
| SECRETARY | |||||||||||
| The company does not have an appointed secretary | |||||||||||
| REGISTERED OFFICE | |||||||||||
| COMPANY REGISTRATION NUMBER | |||||||||||
| 11711091 England and Wales | |||||||||||
| FOXBAY LIMITED | |||||||||||
| BALANCE SHEET | |||||||||||
| AS AT 31 DECEMBER 2024 | |||||||||||
| Notes | 2024 | 2023 | |||||||||
| £ | £ | ||||||||||
| FIXED ASSETS | |||||||||||
| Tangible assets | 5 | ||||||||||
| Investments | 6 | ||||||||||
| CURRENT ASSETS | |||||||||||
| Debtors | 7 | ||||||||||
| Cash at bank and in hand | |||||||||||
| CREDITORS: Amounts falling due within one year | 8 | ||||||||||
| NET CURRENT LIABILITIES | ( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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| Provisions for liabilities and charges | |||||||||||
| NET ASSETS / (LIABILITIES) | ( |
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| CAPITAL AND RESERVES | |||||||||||
| Called up share capital | |||||||||||
| Distributable profit and loss account | ( |
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| SHAREHOLDER'S FUNDS / (DEFICIT) | ( |
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| FOXBAY LIMITED | |||||||||||
| BALANCE SHEET | |||||||||||
| AS AT 31 DECEMBER 2024 | |||||||||||
| As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
| Signed on behalf of the board | |||||||||||
| J C S Parker | |||||||||||
| Director | |||||||||||
| Date approved by the board: |
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| FOXBAY LIMITED | |||||||||||
| NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | |||||||||||
| 1 | GENERAL INFORMATION | ||||||||||
| Foxbay Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
| 4 Witan Way | |||||||||||
| Witney | |||||||||||
| Oxon | |||||||||||
| OX28 6FF | |||||||||||
| 2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
| Basis of preparation of financial statements | |||||||||||
| Going concern | |||||||||||
| The accounts have been drawn up on the going concern basis. The company owes the director £18,656, and a connected undertaking £53,172, which could be required for repayment without notice. The company is therefore dependent upon the continued support of the director and the connected undertaking. The director and the connected undertaking do not consider their own support likely to be withdrawn. | |||||||||||
| If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets. | |||||||||||
| Revenue recognition | |||||||||||
| Turnover is measured at the fair value of consideration received or receivable and is recognised in respect of short-term letting income. |
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| The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. | |||||||||||
| Tangible fixed assets | |||||||||||
| Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. | |||||||||||
| Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
| Furniture and fittings | |||||||||||
| On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. | |||||||||||
| FOXBAY LIMITED | |||||||||||
| NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | |||||||||||
| 2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
| Investment properties | |||||||||||
| Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. | |||||||||||
| Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise. | |||||||||||
| Financial Instruments | |||||||||||
| A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. | |||||||||||
| Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account. | |||||||||||
| Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately. | |||||||||||
| Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised. | |||||||||||
| Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. | |||||||||||
| FOXBAY LIMITED | |||||||||||
| NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | |||||||||||
| 2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
| Impairment of non-financial assets | |||||||||||
| At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
| If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
| Debtors | |
| Short term debtors are measured at transaction price, less any impairment. | |||||||||||
| Creditors | |||||||||||
| Taxation | |||||||||||
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits. | |||||||||||
| Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. | |||||||||||
| Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset. | |||||||||||
| FOXBAY LIMITED | |||||||||||
| NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | |||||||||||
| 3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
| 4 | EMPLOYEES | ||||||||||
| The average number of persons employed by the company (including the director) during the year was: | |||||||||||
| 2024 | 2023 | ||||||||||
| Average number of employees | |||||||||||
| 5 | TANGIBLE ASSETS | ||||||||||
| Furniture and fittings | |||||||||||
| £ | |||||||||||
| Cost | |||||||||||
| At 1 January 2024 | |||||||||||
| Additions | |||||||||||
| At 31 December 2024 | |||||||||||
| Accumulated depreciation and impairments | |||||||||||
| At 1 January 2024 | |||||||||||
| Charge for year | |||||||||||
| At 31 December 2024 | |||||||||||
| Net book value | |||||||||||
| At 1 January 2024 | |||||||||||
| At 31 December 2024 | |||||||||||
| FOXBAY LIMITED | |||||||||||
| NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | |||||||||||
| 6 | FIXED ASSET INVESTMENTS | ||||||||||
| Investment property | |||||||||||
| £ | |||||||||||
| Cost | |||||||||||
| At 1 January 2024 | 60,081 | ||||||||||
| At 31 December 2024 | 60,081 | ||||||||||
| Net book value | |||||||||||
| At 1 January 2024 | |||||||||||
| At 31 December 2024 | |||||||||||
| In the opinion of the director, all investment property has been stated at fair value. | |||||||||||
| 7 | DEBTORS | ||||||||||
| 2024 | 2023 | ||||||||||
| £ | £ | ||||||||||
| Prepayments and accrued income | - | ||||||||||
| Other debtors | |||||||||||
| 1,871 | 1,324 | ||||||||||
| 8 | CREDITORS: Amounts falling due within one year | ||||||||||
| 2024 | 2023 | ||||||||||
| £ | £ | ||||||||||
| Trade creditors | - | ||||||||||
| Taxation and social security | |||||||||||
| Accruals and deferred income | |||||||||||
| Other creditors | |||||||||||
| 76,530 | 68,638 | ||||||||||
| FOXBAY LIMITED | |||||||||||
| NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | |||||||||||
| 9 | RELATED PARTY TRANSACTIONS | ||||||||||
| During the year, the following transactions with related parties took place: | |||||||||||
| Conygree Developments Limited | |||||||||||
| Connected undertaking | 2024 | 2023 | |||||||||
| £ | £ | ||||||||||
| Amounts owed to connected undertaking at year end: | 53,172 | 53,172 | |||||||||
| J C S Parker | |||||||||||
| Director and shareholder | 2024 | 2023 | |||||||||
| £ | £ | ||||||||||
| Advances to company | The director has made advances to the company which is repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: | 18,656 | 12,656 | ||||||||
| During the year under review, the company paid J C S Parker rent of £6,000 (2023: £1,500). | |||||||||||