30/11/2018
2018-11-30
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
false
No description of principal activities is disclosed
2017-06-14
Sage Accounts Production 18.30 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
10818472
2017-06-14
2018-11-30
10818472
2018-11-30
10818472
bus:RegisteredOffice
2017-06-14
2018-11-30
10818472
bus:Director1
2017-06-14
2018-11-30
10818472
core:WithinOneYear
2018-11-30
10818472
core:ShareCapital
2017-06-14
2018-11-30
10818472
core:RetainedEarningsAccumulatedLosses
2017-06-14
2018-11-30
10818472
core:ShareCapital
2018-11-30
10818472
core:RetainedEarningsAccumulatedLosses
2018-11-30
10818472
bus:SmallEntities
2017-06-14
2018-11-30
10818472
bus:AuditExempt-NoAccountantsReport
2017-06-14
2018-11-30
10818472
bus:FullAccounts
2017-06-14
2018-11-30
10818472
bus:SmallCompaniesRegimeForAccounts
2017-06-14
2018-11-30
10818472
bus:PrivateLimitedCompanyLtd
2017-06-14
2018-11-30
Company registration number:
10818472
White Fox Resources Limited
Trading as
White Fox Resources Limited
Unaudited financial statements
30 November 2018
White Fox Resources Limited
Contents
Directors and other information
Director's report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
White Fox Resources Limited
Directors and other information
|
|
|
|
|
Director
|
Mr George Frangeskides
|
(Appointed 14 June 2017)
|
|
|
|
|
|
|
|
|
|
Company number
|
10818472
|
|
|
|
|
|
|
|
|
|
|
Registered office
|
6th Floor
|
|
|
|
60 Gracechurch Street
|
|
|
|
London
|
|
|
|
EC3V 0HR
|
|
|
|
|
|
|
|
|
|
|
Business address
|
72 Great Titchfield Street
|
|
|
|
London
|
|
|
|
W1W 7QW
|
|
|
|
|
|
White Fox Resources Limited
Director's report
Period ended 30 November 2018
The director presents his report and the unaudited financial statements of the company for the period ended 30 November 2018.
Director
The director who served the company during the period was as follows:
|
|
|
|
|
Mr George Frangeskides
|
|
|
|
(Appointed 14 June 2017)
|
|
|
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
13 March 2019
and signed on behalf of the board by:
Mr George Frangeskides
Director
White Fox Resources Limited
Statement of comprehensive income
Period ended 30 November 2018
|
|
|
|
period
|
|
|
|
|
|
|
|
|
ended
|
|
|
|
|
|
|
|
|
30/11/18
|
|
|
|
|
|
|
Note
|
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turnover
|
|
|
|
-
|
|
|
|
|
Other operating expenses
|
|
|
|
(
10,452)
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
Operating loss
|
|
|
|
(
10,452)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
Loss before taxation
|
|
|
|
(
10,452)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax on loss
|
|
|
|
-
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
Loss for the financial period and total comprehensive income
|
|
|
|
(
10,452)
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All the activities of the company are from continuing operations.
White Fox Resources Limited
Statement of financial position
30 November 2018
|
|
|
30/11/18
|
|
|
|
|
|
|
|
|
Note
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
4
|
57,609
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
57,609
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
5
|
49
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
49
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
6
|
(
68,010)
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
Net current liabilities
|
|
|
|
|
(
67,961)
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
(
10,352)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
Net liabilities
|
|
|
|
|
(
10,352)
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
100
|
|
|
|
|
Profit and loss account
|
|
|
|
|
(
10,452)
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
Shareholders deficit
|
|
|
|
|
(
10,352)
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the period ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
13 March 2019
, and are signed on behalf of the board by:
Mr George Frangeskides
Director
Company registration number:
10818472
White Fox Resources Limited
Statement of changes in equity
Period ended 30 November 2018
|
|
Called up share capital
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 14 June 2017
|
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period
|
|
|
(
10,452)
|
(
10,452)
|
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the period
|
|
-
|
(
10,452)
|
(
10,452)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares
|
|
100
|
|
100
|
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Total investments by and distributions to owners
|
|
100
|
-
|
100
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 30 November 2018
|
|
100
|
(
10,452)
|
(
10,352)
|
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
White Fox Resources Limited
Notes to the financial statements
Period ended 30 November 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6th Floor, 60 Gracechurch Street, London, EC3V 0HR.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Intangible assets
|
|
Total
|
|
|
|
|
|
|
|
£
|
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 14 June 2017
|
-
|
|
|
|
|
|
|
Transfers
|
57,609
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
At 30 November 2018
|
57,609
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 14 June 2017 and 30 November 2018
|
-
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 30 November 2018
|
57,609
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.
Debtors
|
|
|
30/11/18
|
|
|
|
|
£
|
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
|
49
|
|
|
|
|
_______
|
|
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
30/11/18
|
|
|
|
|
£
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
|
68,010
|
|
|
|
|
_______
|
|
|
|
|
|
|