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Registration number: 00233583

Fox-Fletcher Developments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Fox-Fletcher Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Fox-Fletcher Developments Ltd

Company Information

Directors

Ms L A Fletcher

Ms E C Dunwell

Mr R H R Fletcher

Mr A C Fletcher

Ms C F Fletcher

Mr A R V Fletcher

Registered office

Southridge
Long Toll
Woodcote
Reading
RG8 0RR

 

Fox-Fletcher Developments Ltd

(Registration number: 00233583)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

661,000

661,000

Investments

5

1

1

 

661,001

661,001

Current assets

 

Debtors

6

673,252

642,681

Cash at bank and in hand

 

142,013

230,857

 

815,265

873,538

Creditors: Amounts falling due within one year

7

(73,728)

(146,862)

Net current assets

 

741,537

726,676

Total assets less current liabilities

 

1,402,538

1,387,677

Creditors: Amounts falling due after more than one year

7

(10,935)

-

Net assets

 

1,391,603

1,387,677

Capital and reserves

 

Called up share capital

25,000

25,000

Capital redemption reserve

5,000

5,000

Revaluation reserve

110,355

110,355

Profit and loss account

1,251,248

1,247,322

Total equity

 

1,391,603

1,387,677

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Fox-Fletcher Developments Ltd

(Registration number: 00233583)
Balance Sheet as at 30 September 2023

Approved and authorised by the Board on 21 February 2024 and signed on its behalf by:
 

.........................................
Ms L A Fletcher
Director

   
     
 

Fox-Fletcher Developments Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Southridge
Long Toll
Woodcote
Reading
RG8 0RR

These financial statements were authorised for issue by the Board on 21 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Fox-Fletcher Developments Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Investment Property

No Depreciation

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Fox-Fletcher Developments Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2022

661,000

661,000

At 30 September 2023

661,000

661,000

Depreciation

Carrying amount

At 30 September 2023

661,000

661,000

At 30 September 2022

661,000

661,000

Included within the net book value of land and buildings above is £661,000 (2022 - £661,000) in respect of freehold land and buildings.
 

 

Fox-Fletcher Developments Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 October 2022

1

Provision

Carrying amount

At 30 September 2023

1

At 30 September 2022

1

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

11,439

11,873

Amounts owed by group undertakings and undertakings in which the company has a participating interest

660,699

630,111

Prepayments

 

1,114

697

 

673,252

642,681

 

Fox-Fletcher Developments Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,523

13

Taxation and social security

 

3,859

3,825

Corporation tax liability

 

-

1

Other creditors

 

68,346

143,023

 

73,728

146,862

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

10,935

-

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

A Ordinary Shares of £1 each

11,500

11,500

11,500

11,500

B Ordinary Shares of £1 each

3,500

3,500

3,500

3,500

C Ordinary Shares of £1 each

2,000

2,000

2,000

2,000

D Ordinary Shares of £1 each

8,000

8,000

8,000

8,000

 

25,000

25,000

25,000

25,000