Foxley Lane Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06032492 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Foxley Lane Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mr A Kerschbaumer

SECRETARY:

Mrs R Kerschbaumer

REGISTERED OFFICE:

Third Floor, Scottish Mutual House

27-29 North Street

Hornchurch

Essex

RM11 1RS

REGISTERED NUMBER:

06032492 (England and Wales)

ACCOUNTANTS:

Havard & Associates

Third Floor

Scottish Mutual House

27-29 North Street

Hornchurch

Essex

RM11 1RS

FIXED ASSETS

Intangible assets

4

159,997

186,664

Tangible assets

5

41,823

17,801

201,820

204,465

CURRENT ASSETS

Debtors

6

134,040

142,106

Cash at bank

43,409

39,767

177,449

181,873

CREDITORS

Amounts falling due within one year

7

56,736

60,537

NET CURRENT ASSETS

120,713

121,336

TOTAL ASSETS LESS CURRENT LIABILITIES

322,533

325,801

CREDITORS

Amounts falling due after more than one year

8

(86,637

)

(75,355

)

PROVISIONS FOR LIABILITIES

(7,303

)

(2,598

)

NET ASSETS

228,593

247,848

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

228,591

247,846

SHAREHOLDERS' FUNDS

228,593

247,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 June 2020 and were signed by:

Mr A Kerschbaumer - Director

1.	STATUTORY INFORMATION

Foxley Lane Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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 future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

400,000

AMORTISATION

At 1 January 2019

213,336

Charge for year

26,667

At 31 December 2019

240,003

NET BOOK VALUE

At 31 December 2019

159,997

At 31 December 2018

186,664

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

45,021

Additions

38,813

At 31 December 2019

83,834

DEPRECIATION

At 1 January 2019

27,220

Charge for year

14,791

At 31 December 2019

42,011

NET BOOK VALUE

At 31 December 2019

41,823

At 31 December 2018

17,801

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

1,815

3,002

Other debtors

132,225

139,104

134,040

142,106

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

4,116

4,116

Hire purchase contracts

6,460

-

Trade creditors

5,844

9,260

Taxation and social security

31,786

35,646

Other creditors

8,530

11,515

56,736

60,537

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans

51,797

55,919

Hire purchase contracts

21,534

-

Other creditors

13,306

19,436

86,637

75,355

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

35,333

39,455

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2019 and

31 December 2018:

31.12.19

31.12.18

£

£

Mr A Kerschbaumer

Balance outstanding at start of year

68,292

74,543

Amounts advanced

66,112

68,292

Amounts repaid

(68,292

)

(74,543

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

66,112

68,292

Interest was charged on the above loan at 2.5% pro rata.

10.	RELATED PARTY DISCLOSURES

A loan equal to the directors was issued to the other shareholder Regina Kerschbaumer in the year. Interest was

charged at 2.5% pro rata.