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COMPANY REGISTRATION NUMBER: 08454059
Fox Reinforcement Limited
Filleted Unaudited Financial Statements
31 March 2023
Fox Reinforcement Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
11,011
13,494
Current assets
Debtors
6
86,674
1,904
Cash at bank and in hand
32,001
32,328
------------
------------
118,675
34,232
Creditors: amounts falling due within one year
7
( 44,626)
( 14,178)
------------
------------
Net current assets
74,049
20,054
------------
------------
Total assets less current liabilities
85,060
33,548
------------
------------
Net assets
85,060
33,548
------------
------------
Fox Reinforcement Limited
Statement of Financial Position (continued)
31 March 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
85,058
33,546
------------
------------
Shareholders funds
85,060
33,548
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 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 year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:
Mr A Fox
Director
Company registration number: 08454059
Fox Reinforcement Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Marlen Croft, Rottington, Whitehaven, Cumbria, CA28 9UR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Depreciation
-
20% reducing balance
Depreciation
-
20% reducing balance
Depreciation
-
15% reducing balance
Impairment of fixed assets
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022 and 31 March 2023
5,542
9,606
6,995
22,143
------------
------------
------------
------------
Depreciation
At 1 April 2022
5,950
2,699
8,649
Charge for the year
1,108
731
644
2,483
------------
------------
------------
------------
At 31 March 2023
1,108
6,681
3,343
11,132
------------
------------
------------
------------
Carrying amount
At 31 March 2023
4,434
2,925
3,652
11,011
------------
------------
------------
------------
At 31 March 2022
5,542
3,656
4,296
13,494
------------
------------
------------
------------
6. Debtors
2023
2022
£
£
Trade debtors
1,753
Other debtors
86,674
151
------------
------------
86,674
1,904
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,394
Corporation tax
38,187
8,637
Social security and other taxes
3,805
4,360
Other creditors
1,240
1,181
------------
------------
44,626
14,178
------------
------------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr A Fox
( 5)
86,508
86,503
------------
------------
------------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr A Fox
( 348)
343
( 5)
------------
------------
------------