Fox Electrical Contracts Ltd iXBRL

Fox Electrical Contracts Ltd

Abridged Unaudited Financial Statements

for the financial year ended 31 August 2025

Fox Electrical Contracts Ltd

Company Registration Number: NI625965

ABRIDGED BALANCE SHEET

as at 31 August 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

114,689

94,073

─────────

Current Assets

Stocks

601,540

317,719

Debtors

790,400

619,386

Cash and cash equivalents

2,154,739

1,714,232

─────────

3,546,679

2,651,337

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Creditors: amounts falling due within one year

(2,249,955)

(1,802,434)

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Net Current Assets

1,296,724

848,903

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Total Assets less Current Liabilities

1,411,413

942,976

Creditors:

amounts falling due after more than one year

(50,844)

Provisions for liabilities

(28,674)

(23,926)

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Net Assets

1,382,739

868,206

═════════

Capital and Reserves

Called up share capital

100

100

Retained earnings

1,382,639

868,106

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Shareholders' Funds

1,382,739

868,206

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Director and authorised for issue on 8 April 2026



________________________________
Mr. Mark Gerald Fox
Director

Fox Electrical Contracts Ltd

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 August 2025

General Information

Fox Electrical Contracts Ltd is a private company limited by shares incorporated in Northern Ireland. 27 Mullyard Road, Derrynoose, Keady, Co. Armagh, BT60 3HH, Northern Ireland is the registered office, which is also the principal place of business of the company.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. The company number is NI625965.

These financial statements cover the individual entity for the year ended 31st August 2025.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 August 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods and services supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

25% Reducing Balance

Fixtures, fittings and equipment

25% Reducing Balance

Motor vehicles

25% Reducing Balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Government grants

Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.

Pensions

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.

Ordinary share capital

The ordinary share capital of the company is presented as equity.


3.	Employees

	The average monthly number of employees, including director, during the financial year was as follows:

		2025	2024
		Number	Number

	Director	1	1
	Employees	20	23
		─────────	─────────
		21	24
		═════════	═════════


4.	Tangible assets
		Plant and	Fixtures,	Motor	Total
		machinery	fittings and	vehicles
			equipment
		£	£	£	£
	Cost
	At 1 September 2024	18,570	44,672	94,487	157,729
	Additions	-	2,264	45,790	48,054
		─────────	─────────	─────────	─────────
	At 31 August 2025	18,570	46,936	140,277	205,783
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 September 2024	4,176	11,463	48,017	63,656
	Charge for the financial year	3,599	9,105	14,734	27,438
		─────────	─────────	─────────	─────────
	At 31 August 2025	7,775	20,568	62,751	91,094
		─────────	─────────	─────────	─────────
	Net book value
	At 31 August 2025	10,795	26,368	77,526	114,689
		═════════	═════════	═════════	═════════
	At 31 August 2024	14,394	33,209	46,470	94,073
		═════════	═════════	═════════	═════════

Details of creditors

Security given in respect of creditors

The company has given security on borrowings by way of a fixed and floating charge over the assets of the company. This security also contains a negative pledge. Secured borrowings as at 31st August 2025 total £56,136. (2024: £118,635.).

Parent company

The company regards FEC Development Group Limited, a company registered in Northern Ireland, as its parent company. The address of FEC Development Group Ltd is 27 Mullyard Road, Derrynoose, Keady, Co.Armagh, BT60 3HH. FEC Development Group Limited is regarded as both the controlling party and the ultimate controlling party.

Pension commitments

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At 31st August 2025 unpaid contributions of £2,195 (2024: £1,363) were due to the pension provider. This is included in creditors: amounts falling due within one year.