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REGISTERED NUMBER: 13689007 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Red Fox Commercials Limited

Red Fox Commercials Limited (Registered number: 13689007)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Red Fox Commercials Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: C J Elsden
O J Elsden





REGISTERED OFFICE: Mills Yard
Bell Road
Haslemere
Surrey
GU27 3DG





REGISTERED NUMBER: 13689007 (England and Wales)





ACCOUNTANTS: Roberts York Limited
York House
4A Highfield Gardens
Liss
Hampshire
GU33 7NQ

Red Fox Commercials Limited (Registered number: 13689007)

Abridged Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,656 20,500
Investment property 5 3,000,000 1,700,000
3,016,656 1,720,500

CURRENT ASSETS
Debtors 29,719 32,686
Cash at bank 14,071 32,875
43,790 65,561
CREDITORS
Amounts falling due within one year 64,721 65,213
NET CURRENT (LIABILITIES)/ASSETS (20,931 ) 348
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,995,725

1,720,848

CREDITORS
Amounts falling due after more than one
year

6

(1,581,587

)

(1,607,204

)

PROVISIONS FOR LIABILITIES (356,571 ) (24,724 )
NET ASSETS 1,057,567 88,920

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 1,057,220 88,798
Retained earnings 247 22
1,057,567 88,920

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Red Fox Commercials Limited (Registered number: 13689007)

Abridged Balance Sheet - continued
31 October 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





C J Elsden - Director


Red Fox Commercials Limited (Registered number: 13689007)

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

1. STATUTORY INFORMATION

Red Fox Commercials 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 (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions in accordance with Section 11. Financial assets and liabilities are measured at cost and financial assets are assessed at the end of each reporting period for objective evidence of impairment.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Red Fox Commercials Limited (Registered number: 13689007)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 24,000
Additions 1,500
At 31 October 2023 25,500
DEPRECIATION
At 1 November 2022 3,500
Charge for year 5,344
At 31 October 2023 8,844
NET BOOK VALUE
At 31 October 2023 16,656
At 31 October 2022 20,500

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 1,700,000
Revaluations 1,300,000
At 31 October 2023 3,000,000
NET BOOK VALUE
At 31 October 2023 3,000,000
At 31 October 2022 1,700,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2022 109,627
Valuation in 2023 1,300,000
Cost 1,590,373
3,000,000

If investment property had not been revalued it would have been included at the following historical cost:

31.10.23 31.10.22
£    £   
Cost 1,590,373 1,590,373

Investment property was valued on an open market basis on 31 October 2023 by the directors. .

Red Fox Commercials Limited (Registered number: 13689007)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.10.23 31.10.22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 843,807 861,505

7. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 936,120 948,619

HSBC UK Bank PLC hold a fixed and floating charge over all assets including the freehold property and land at Bell Road, Haslemere.

8. RESERVES
Fair
value
reserve
£   
At 1 November 2022 88,798
Fair value movements 968,422

At 31 October 2023 1,057,220

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 October 2023 and the period ended 31 October 2022:

31.10.23 31.10.22
£    £   
C J Elsden
Balance outstanding at start of year 14,900 -
Amounts advanced - 14,900
Amounts repaid (9,831 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,069 14,900

O J Elsden
Balance outstanding at start of year - -
Amounts advanced 11,162 -
Amounts repaid (1,631 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,531 -