Fox And Finch Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12220973 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2023

for

Fox And Finch Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

A Bowers

REGISTERED OFFICE:

155-157 Park View

Whitley Bay

United Kingdom

NE26 3RF

REGISTERED NUMBER:

12220973 (England and Wales)

ACCOUNTANTS:

Peter Weldon & Co. Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fox And Finch Limited for the year ended 31 January 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Fox And Finch Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fox And Finch Limited and state those matters that we have agreed to state to the director of Fox And Finch Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fox And Finch Limited and its director for our work or for this report.

It is your duty to ensure that Fox And Finch Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fox And Finch Limited. You consider that Fox And Finch Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fox And Finch Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Peter Weldon & Co. Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

22 October 2023

FIXED ASSETS

Intangible assets

4

73,500

Tangible assets

5

183,566

146,845

257,066

220,345

CURRENT ASSETS

Stocks

6

6,500

6,250

Debtors

7

160,375

138,391

Cash at bank and in hand

30,950

37,040

197,825

181,681

CREDITORS

Amounts falling due within one year

8

238,852

137,651

NET CURRENT (LIABILITIES)/ASSETS

(41,027

)

44,030

TOTAL ASSETS LESS CURRENT
LIABILITIES

216,039

264,375

CREDITORS

Amounts falling due after more than one
year

9

(32,417

)

(39,066

)

PROVISIONS FOR LIABILITIES

(17,274

)

(17,274

)

NET ASSETS

166,348

208,035

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

166,347

208,034

SHAREHOLDERS' FUNDS

166,348

208,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 22 October 2023 and were signed by:

A Bowers - Director

1.	STATUTORY INFORMATION

Fox And Finch 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.

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.

leasehold improvements have been fully amortised in the current year.

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance per annum

Plant and machinery

-

15% on reducing balance per annum

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 20 (2022 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2022

NET BOOK VALUE

At 31 January 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

COST

At 1 February 2022

76,374

103,240

179,614

Additions

60,515

5,072

65,587

At 31 January 2023

136,889

108,312

245,201

DEPRECIATION

At 1 February 2022

18,614

14,155

32,769

Charge for year

14,742

14,124

28,866

At 31 January 2023

33,356

28,279

61,635

NET BOOK VALUE

At 31 January 2023

103,533

80,033

183,566

At 31 January 2022

57,760

89,085

146,845

6.

STOCKS

2023

2022

£

Stocks

6,500

6,250

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

Amounts owed by associates

100,234

-

Directors' current accounts

60,141

138,391

160,375

138,391

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

Bank loans and overdrafts

6,755

Amounts owed to associates

7,455

-

Tax

30,314

37,185

Social security and other taxes

43,226

21,531

VAT

139,572

53,447

Net Wages

430

5,623

Pension Creditor

-

289

Accruals and deferred income

11,100

12,821

238,852

137,651

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2023

2022

£

Bank loans

32,417

39,066

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 January 2023 and the period ended 31 January 2022:

2023

2022

£

A Bowers and A Bowers

Balance outstanding at start of year

138,391

159,437

Amounts repaid

(78,250

)

(21,046

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

60,141

138,391