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REGISTERED NUMBER: 10848539 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

FOX EARTH SPORTS PRESTIGE AND 4X4
LIMITED

FOX EARTH SPORTS PRESTIGE AND 4X4
LIMITED (REGISTERED NUMBER: 10848539)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


FOX EARTH SPORTS PRESTIGE AND 4X4
LIMITED (REGISTERED NUMBER: 10848539)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 488,489 494,832

CURRENT ASSETS
Stocks 408,988 470,357
Debtors 5 2,898 1,916
Cash at bank 1,593,724 1,430,446
2,005,610 1,902,719
CREDITORS
Amounts falling due within one year 6 636,872 597,149
NET CURRENT ASSETS 1,368,738 1,305,570
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,857,227

1,800,402

CREDITORS
Amounts falling due after more than one year 7 (1,500,000 ) (1,500,000 )

PROVISIONS FOR LIABILITIES (8,216 ) (7,450 )
NET ASSETS 349,011 292,952

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 348,011 291,952
SHAREHOLDERS' FUNDS 349,011 292,952

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.

FOX EARTH SPORTS PRESTIGE AND 4X4
LIMITED (REGISTERED NUMBER: 10848539)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 April 2024 and were signed by:





Mr C J Maguire - Director


FOX EARTH SPORTS PRESTIGE AND 4X4
LIMITED (REGISTERED NUMBER: 10848539)

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

1. STATUTORY INFORMATION

Fox Earth Sports Prestige And 4x4 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10848539

Registered office: The Hough Retail Park
Lichfield Road
Stafford
ST17 4LU

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.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


FOX EARTH SPORTS PRESTIGE AND 4X4
LIMITED (REGISTERED NUMBER: 10848539)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 455,622 11,825 74,755 542,202
DEPRECIATION
At 1 August 2022 - 7,008 40,362 47,370
Charge for year - 1,204 5,139 6,343
At 31 July 2023 - 8,212 45,501 53,713
NET BOOK VALUE
At 31 July 2023 455,622 3,613 29,254 488,489
At 31 July 2022 455,622 4,817 34,393 494,832

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 2,898 1,916

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 85 136,475
Taxation and social security 22,687 22,299
Other creditors 614,100 438,375
636,872 597,149

FOX EARTH SPORTS PRESTIGE AND 4X4
LIMITED (REGISTERED NUMBER: 10848539)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Other creditors 1,500,000 1,500,000