Rum Fox Limited 14006177 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Bar Digita Accounts Production Advanced 6.30.9574.0 true 14006177 2023-04-01 2024-03-31 14006177 2024-03-31 14006177 bus:OrdinaryShareClass1 2024-03-31 14006177 core:RetainedEarningsAccumulatedLosses 2024-03-31 14006177 core:ShareCapital 2024-03-31 14006177 core:CurrentFinancialInstruments 2024-03-31 14006177 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14006177 core:FurnitureFittingsToolsEquipment 2024-03-31 14006177 core:PlantMachinery 2024-03-31 14006177 1 2024-03-31 14006177 bus:SmallEntities 2023-04-01 2024-03-31 14006177 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14006177 bus:FilletedAccounts 2023-04-01 2024-03-31 14006177 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14006177 bus:RegisteredOffice 2023-04-01 2024-03-31 14006177 bus:Director1 2023-04-01 2024-03-31 14006177 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 14006177 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14006177 core:FurnitureFittings 2023-04-01 2024-03-31 14006177 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 14006177 core:PlantMachinery 2023-04-01 2024-03-31 14006177 countries:England 2023-04-01 2024-03-31 14006177 1 2023-04-01 2024-03-31 14006177 2023-03-31 14006177 core:FurnitureFittingsToolsEquipment 2023-03-31 14006177 core:PlantMachinery 2023-03-31 14006177 1 2023-03-31 14006177 2022-03-28 2023-03-31 14006177 2023-03-31 14006177 bus:OrdinaryShareClass1 2023-03-31 14006177 core:RetainedEarningsAccumulatedLosses 2023-03-31 14006177 core:ShareCapital 2023-03-31 14006177 core:CurrentFinancialInstruments 2023-03-31 14006177 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14006177 core:FurnitureFittingsToolsEquipment 2023-03-31 14006177 core:PlantMachinery 2023-03-31 14006177 1 2023-03-31 14006177 1 2022-03-28 2023-03-31 14006177 1 2022-03-27 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14006177

Rum Fox Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Rum Fox Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Rum Fox Limited

(Registration number: 14006177)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

52,063

 

48,294

Current assets

   

 

Stocks

15,310

 

6,446

 

Debtors

5

21,447

 

20,824

 

Cash at bank and in hand

 

103,706

 

34,411

 

 

140,463

 

61,681

 

Creditors: Amounts falling due within one year

6

(232,067)

 

(150,261)

 

Net current liabilities

   

(91,604)

 

(88,580)

Net liabilities

   

(39,541)

 

(40,286)

Capital and reserves

   

 

Called up share capital

7

1

 

1

 

Retained earnings

(39,542)

 

(40,287)

 

Shareholders' deficit

   

(39,541)

 

(40,286)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 August 2024
 

.........................................
R A Geldeard
Director

 

Rum Fox Limited

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

1

General information

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

The address of its registered office is:
The Rum Fox
Sawley Road
Grindleton
Clitheroe
BB7 4QS

These financial statements were authorised for issue by the director on 7 August 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1AC.35 from
disclosing transactions and balances with fellow group undertakings that are wholly owned.

Going concern

The company has the ongoing support of the parent company who have confirmed they will not call for repayment of their loans on terms that would be prejudicial to the company’s continuing activities. Having considered the validity of the going concern concept in relation to these accounts, the directors have concluded that the company will continue in operation for the foreseeable future and have therefore prepared the financial statements 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.

 

Rum Fox Limited

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

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

25% reducing balance

Furniture, fittings and equipment

25% reducuing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

 

Rum Fox Limited

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

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 29 (2023 - 2).

 

Rum Fox Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

29,924

19,399

49,323

Additions

11,719

9,405

21,124

At 31 March 2024

41,643

28,804

70,447

Depreciation

At 1 April 2023

624

405

1,029

Charge for the year

10,254

7,101

17,355

At 31 March 2024

10,878

7,506

18,384

Carrying amount

At 31 March 2024

30,765

21,298

52,063

At 31 March 2023

29,300

18,994

48,294

5

Debtors

2024
£

2023
£

Other debtors

16,339

20,156

Prepayments

5,108

668

21,447

20,824

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

67,531

56,550

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

86,520

81,274

Taxation and social security

37,447

8,522

Accruals and deferred income

5,852

2,598

Other creditors

34,717

1,317

232,067

150,261

 

Rum Fox Limited

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

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £360,000 (2023 - £Nil).

9

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Interest free loan repayable on demand

197

8,000

(4,858)

3,339

 

2023

At 28 March 2022
£

Advances to director
£

At 31 March 2023
£

Interest free loan repayable on demand

-

197

197