Registered number
13878072
Corvin Fox Holdings Ltd
Filleted Accounts
31 May 2024
Corvin Fox Holdings Ltd
Registered number: 13878072
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 142,378 142,378
Investments 4 125 125
142,503 142,503
Current assets
Cash at bank and in hand 4,188 2,921
4,188 2,921
Creditors: amounts falling due within one year 5 (52,123) (49,323)
Net current liabilities (47,935) (46,402)
Total assets less current liabilities 94,568 96,101
Creditors: amounts falling due after more than one year 6 (86,932) (93,242)
Net assets 7,636 2,859
Capital and reserves
Called up share capital 125 125
Profit and loss account 7,511 2,734
Shareholders' funds 7,636 2,859
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Z O'Driscoll
Director
Approved by the board on 17 September 2024
Corvin Fox Holdings Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment Property
Investment property is included at fair value. Gains are recognised the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment property
Investment property Total
£ £
Cost
At 1 June 2023 142,378 142,378
At 31 May 2024 142,378 142,378
Net book value
At 31 May 2024 142,378 142,378
At 31 May 2023 142,378 142,378
4 Investments
Investments in
subsidiary
undertakings Total
£ £
Cost
At 1 June 2023 125 125
At 31 May 2024 125 125
Historical cost
At 1 June 2023 125
At 31 May 2024 125
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,201 5,273
Amounts owed to group undertakings 44,230 41,969
Taxation and social security costs 1,120 641
Other creditors 1,572 1,440
52,123 49,323
Bank loans of £5,201 (2023: £5,273) due within one year, are secured by the company.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 86,932 93,242
86,932 93,242
Bank loans of £86,932 (2023: £93,242) due after more than one year, are secured by the company.
7 Related party transactions
During the year, the company was loaned £2,261 (2023 - £41,969) from a company under common control. The rate of interest charged is 0%. At the balance sheet date £44,230 (2023 - £41,969) was owed to Corvin Fox Ltd this balance is included in amounts owed to group undertakings.
8 Other information
Corvin Fox Holdings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Victoria Street
Spalding
PE11 1EA
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