Company registration number 08117339 (England and Wales)
ROXFORD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
ROXFORD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ROXFORD LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,184
7,972
Current assets
Stocks
2,053,843
1,269,979
Debtors
4
17,227
8,266
Cash at bank and in hand
212,042
1,377,989
2,283,112
2,656,234
Creditors: amounts falling due within one year
5
(460,746)
(1,198,841)
Net current assets
1,822,366
1,457,393
Total assets less current liabilities
1,827,550
1,465,365
Creditors: amounts falling due after more than one year
6
(359,795)
-
0
Provisions for liabilities
(1,296)
(1,993)
Net assets
1,466,459
1,463,372
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,466,458
1,463,371
Total equity
1,466,459
1,463,372

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ROXFORD LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 March 2024 and are signed on its behalf by:
Mr G P Gemson
Director
Company Registration No. 08117339
ROXFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Roxford Limited is a private company limited by shares incorporated in England and Wales. The registered office is Richard House, 9 Winckley Square, Preston, PR1 3HP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Whilst the director is paying close attention to the wider UK economic environment, together with the cost and availability of mortgages, he does not currently assess there is any deterioration in the demand for new housing stock and therefore the company's prospects.true

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the fair value of the consideration received or receivable on legal completion, net of value added tax and discounts.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ROXFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Work in progress is valued at the lower of cost and net realisible value. Cost comprises materials, direct labour costs and those overheads that have been incurred in bringing the work in progress to its present condition. Net realisible value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing and selling the property.

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

ROXFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
ROXFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2022
22,800
-
0
1,830
29,262
53,892
Additions
-
0
2,158
424
-
0
2,582
At 30 June 2023
22,800
2,158
2,254
29,262
56,474
Depreciation and impairment
At 1 July 2022
15,278
-
0
1,381
29,261
45,920
Depreciation charged in the year
4,450
539
380
1
5,370
At 30 June 2023
19,728
539
1,761
29,262
51,290
Carrying amount
At 30 June 2023
3,072
1,619
493
-
0
5,184
At 30 June 2022
7,522
-
0
449
1
7,972
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
17,227
8,266
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
226,575
166,678
Taxation and social security
3,517
65,414
Other creditors
230,654
966,749
460,746
1,198,841

 

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
359,795
-
0
ROXFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
6
Creditors: amounts falling due after more than one year
(Continued)
- 7 -

Creditors falling due for payment after more than one year totalling £359,795 (2022: £nil) were secured over the assets to which they relate.

7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Director
124,787
673,668
2023-06-302022-07-01false11 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr G P GemsonMr J Mccannfalse081173392022-07-012023-06-30081173392023-06-30081173392022-06-3008117339core:PlantMachinery2023-06-3008117339core:FurnitureFittings2023-06-3008117339core:ComputerEquipment2023-06-3008117339core:MotorVehicles2023-06-3008117339core:PlantMachinery2022-06-3008117339core:FurnitureFittings2022-06-3008117339core:ComputerEquipment2022-06-3008117339core:MotorVehicles2022-06-3008117339core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3008117339core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3008117339core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3008117339core:Non-currentFinancialInstrumentscore:AfterOneYear2022-06-3008117339core:CurrentFinancialInstruments2023-06-3008117339core:CurrentFinancialInstruments2022-06-3008117339core:ShareCapital2023-06-3008117339core:ShareCapital2022-06-3008117339core:RetainedEarningsAccumulatedLosses2023-06-3008117339core:RetainedEarningsAccumulatedLosses2022-06-3008117339bus:Director12022-07-012023-06-3008117339core:PlantMachinery2022-07-012023-06-3008117339core:FurnitureFittings2022-07-012023-06-3008117339core:ComputerEquipment2022-07-012023-06-3008117339core:MotorVehicles2022-07-012023-06-30081173392021-07-012022-06-3008117339core:PlantMachinery2022-06-3008117339core:FurnitureFittings2022-06-3008117339core:ComputerEquipment2022-06-3008117339core:MotorVehicles2022-06-30081173392022-06-3008117339core:WithinOneYear2023-06-3008117339core:WithinOneYear2022-06-3008117339core:Non-currentFinancialInstruments2023-06-3008117339core:Non-currentFinancialInstruments2022-06-3008117339bus:PrivateLimitedCompanyLtd2022-07-012023-06-3008117339bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3008117339bus:FRS1022022-07-012023-06-3008117339bus:AuditExemptWithAccountantsReport2022-07-012023-06-3008117339bus:Director22022-07-012023-06-3008117339bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP