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REGISTERED NUMBER: 08243200 (England and Wales)













Foxes Bridge Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Foxes Bridge Ltd (Registered number: 08243200)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Foxes Bridge Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: MJ Tebbit
SJ Tebbit





SECRETARY: MJ Tebbit





REGISTERED OFFICE: Foxes Bridge Farm
Royston Lane
Comberton
Cambridge
CB23 7EE





REGISTERED NUMBER: 08243200 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Foxes Bridge Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Foxes Bridge Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Foxes Bridge Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Foxes Bridge Ltd and state those matters that we have agreed to state to the Board of Directors of Foxes Bridge Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Foxes Bridge Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Foxes Bridge Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Foxes Bridge Ltd. You consider that Foxes Bridge Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Foxes Bridge Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


23 August 2024

Foxes Bridge Ltd (Registered number: 08243200)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,980,649 1,650,000

CURRENT ASSETS
Debtors 5 68,234 8,931
Cash at bank 562 38,427
68,796 47,358
CREDITORS
Amounts falling due within one year 6 325,000 238,161
NET CURRENT LIABILITIES (256,204 ) (190,803 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,724,445

1,459,197

CREDITORS
Amounts falling due after more than one
year

7

(396,264

)

(132,161

)

PROVISIONS FOR LIABILITIES 9 (214,798 ) (213,355 )
NET ASSETS 1,113,383 1,113,681

CAPITAL AND RESERVES
Allotted, issued and fully paid share capital 1,000 1,000
Fair value reserve -
non distributable 10 265,074 271,152
Retained earnings 847,309 841,529
SHAREHOLDERS' FUNDS 1,113,383 1,113,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Foxes Bridge Ltd (Registered number: 08243200)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2024 and were signed on its behalf by:





MJ Tebbit - Director


Foxes Bridge Ltd (Registered number: 08243200)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Foxes Bridge Ltd 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.

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.

Going Concern
The directors are aware that the company has net current liabilities. This is because the company has significant loan repayments to meet each year. The directors are confident that they will continue to meet the company's working capital requirements by way of the company's rental income stream.

For this reason the directors consider it appropriate to prepare the financial statements on a going concern basis.

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

Investment property
Investment property is shown at fair value. Fair value is determined with reference to a multiple of annual rent. Any aggregate surplus or deficit arising from changes in market value is recognised in profit or loss.

Deferred tax in relation to capital gains tax due on investment property is charged through the fair value reserve which is non-distributable.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES

The average number of employees during the year was 2 (2023 - 2 ) .

Foxes Bridge Ltd (Registered number: 08243200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,650,000
Additions 330,649
At 31 March 2024 1,980,649
NET BOOK VALUE
At 31 March 2024 1,980,649
At 31 March 2023 1,650,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 337,579
Valuation in 2016 (8,730 )
Valuation in 2017 (23,471 )
Valuation in 2018 (9,148 )
Valuation in 2023 155,775
Cost 1,528,644
1,980,649

The investment property was revalued by the directors and reflects the market value of the property as at 31 March 2024.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,352 3,798
Prepayments 6,237 5,133
VAT 58,645 -
68,234 8,931

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,572 36,132
Trade creditors 6,844 11,409
Tax 8,368 18,006
VAT - 749
Directors' current accounts 219,660 124,506
Accruals and deferred income 49,556 47,359
325,000 238,161

Foxes Bridge Ltd (Registered number: 08243200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-5 years 150,019 116,951
Bank loans more than 5 years
payable by instalment 246,245 15,210
396,264 132,161

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
payable by instalment 246,245 15,210
246,245 15,210

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 436,836 168,293

Land at Toft, Foxes Bridge Farm, Cambridge (247.76 acres) is owned by the partners of Tebbit and Son and is secured against the loans. The directors and shareholders of this business are two of the partners in Tebbit and Son.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 214,798 213,355

Deferred
tax
£   
Balance at 1 April 2023 213,355
Charge to Profit and Loss Account during year 1,443
Balance at 31 March 2024 214,798

Foxes Bridge Ltd (Registered number: 08243200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. RESERVES
Fair
value
reserve -
non
distributable
£   
At 1 April 2023 271,152
Deferred tax (6,078 )

At 31 March 2024 265,074

11. RELATED PARTY DISCLOSURES

During the year the freehold reversion of a property at Toft was purchased from the directors at market value.