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 2020

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

133,330

159,997

Tangible assets

5

44,482

41,823

177,812

201,820

CURRENT ASSETS

Debtors

6

122,220

134,040

Cash at bank

120,275

43,409

242,495

177,449

CREDITORS

Amounts falling due within one year

7

157,800

56,736

NET CURRENT ASSETS

84,695

120,713

TOTAL ASSETS LESS CURRENT LIABILITIES

262,507

322,533

CREDITORS

Amounts falling due after more than one year

8

(74,878

)

(86,637

)

PROVISIONS FOR LIABILITIES

(7,924

)

(7,303

)

NET ASSETS

179,705

228,593

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

179,703

228,591

SHAREHOLDERS' FUNDS

179,705

228,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 2 September 2021 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 (2019 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2020

and 31 December 2020

400,000

AMORTISATION

At 1 January 2020

240,003

Charge for year

26,667

At 31 December 2020

266,670

NET BOOK VALUE

At 31 December 2020

133,330

At 31 December 2019

159,997

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

83,834

Additions

17,771

At 31 December 2020

101,605

DEPRECIATION

At 1 January 2020

42,011

Charge for year

15,112

At 31 December 2020

57,123

NET BOOK VALUE

At 31 December 2020

44,482

At 31 December 2019

41,823

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

3,364

1,815

Other debtors

118,856

132,225

122,220

134,040

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

4,116

4,116

Hire purchase contracts

6,460

6,460

Trade creditors

8,151

5,844

Taxation and social security

56,943

31,786

Other creditors

82,130

8,530

157,800

56,736

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

49,686

51,797

Hire purchase contracts

16,151

21,534

Other creditors

9,041

13,306

74,878

86,637

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

33,222

35,333

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

31.12.20

31.12.19

£

£

Mr A Kerschbaumer

Balance outstanding at start of year

66,112

68,292

Amounts advanced

43,105

66,112

Amounts repaid

(66,112

)

(68,292

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

43,105

66,112

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.