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REGISTERED NUMBER: 07307932 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Foxgrove Associates Limited

Foxgrove Associates Limited (Registered number: 07307932)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Foxgrove Associates Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: G A Keepen





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 07307932 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Foxgrove Associates Limited (Registered number: 07307932)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 33,593 38,392
Tangible assets 5 5,453 7,135
39,046 45,527

CURRENT ASSETS
Debtors 6 50,457 60,681
Cash at bank and in hand 68,478 77,502
118,935 138,183
CREDITORS
Amounts falling due within one year 7 (47,170 ) (54,415 )
NET CURRENT ASSETS 71,765 83,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,811

129,295

PROVISIONS FOR LIABILITIES 8 (1,036 ) (1,356 )
NET ASSETS 109,775 127,939

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 9 109,575 127,739
109,775 127,939

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

Foxgrove Associates Limited (Registered number: 07307932)

Balance Sheet - continued
31 July 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





G A Keepen - Director


Foxgrove Associates Limited (Registered number: 07307932)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Foxgrove Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company was that of providing independent financial advice.

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
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered .

GOODWILL
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Fixtures and fittings33% on cost
Computer equipment33% on cost

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.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.


Foxgrove Associates Limited (Registered number: 07307932)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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 is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

DEFINED CONTRIBUTION PENSION PLAN
The company operates a defined contribution pension plan for its employees as well as making gross contributions to the directors personal defined contribution pension scheme. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in an independently administered funds.

GOING CONCERN
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 the director continues to adopt the going concern basis of accounting in preparing the financial statements and will continue to support the company financially.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Foxgrove Associates Limited (Registered number: 07307932)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 95,980
AMORTISATION
At 1 August 2022 57,588
Amortisation for year 4,799
At 31 July 2023 62,387
NET BOOK VALUE
At 31 July 2023 33,593
At 31 July 2022 38,392

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022 12,829 12,108 24,937
Additions 685 2,164 2,849
At 31 July 2023 13,514 14,272 27,786
DEPRECIATION
At 1 August 2022 9,247 8,555 17,802
Charge for year 2,017 2,514 4,531
At 31 July 2023 11,264 11,069 22,333
NET BOOK VALUE
At 31 July 2023 2,250 3,203 5,453
At 31 July 2022 3,582 3,553 7,135

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 40,912 47,986
Other debtors 9,545 12,695
50,457 60,681

The director considers the carrying value of trade and other receivables approximate to their fair values.

Foxgrove Associates Limited (Registered number: 07307932)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,314 17,729
Taxation and social security 18,740 12,880
Other creditors 15,116 23,806
47,170 54,415

The director considers the carrying amounts of current liabilities approximate to their fair values.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,036 1,356

Deferred
tax
£   
Balance at 1 August 2022 1,356
Provided during year (320 )
Balance at 31 July 2023 1,036

9. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders.This is a distributable reserve.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £3,762 (2022 - £3,172).

Contributions totalling £1,666 (2022 - £1,612) were payable to fund at the balance sheet date and are included in other creditors.

11. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in other creditors is amount of £892 (2022 - £1,343) due to director - G A Keepen of the company.