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REGISTERED NUMBER: 03088004 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Foxes Property Management Ltd

Foxes Property Management Ltd (Registered number: 03088004)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Foxes Property Management Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: L Baker
B Clifford
S Cox
J Franklin
A J Bagshawe
K Baker





REGISTERED OFFICE: 6 Poole Hill
Bournemouth
Dorset
BH2 5PS





REGISTERED NUMBER: 03088004 (England and Wales)





ACCOUNTANTS: Rawlence and Browne UDY Limited
T/A Potter and Pollard
Unit 17 Lancaster Road
Sarum Business Park
Old Sarum
Salisbury
Wiltshire
SP4 6FB

Foxes Property Management Ltd (Registered number: 03088004)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,509 19,635
Tangible assets 5 122,716 107,828
Investment property 6 230,000 230,000
361,225 357,463

CURRENT ASSETS
Debtors 7 184,734 160,991
Cash at bank 178,047 221,810
362,781 382,801
CREDITORS
Amounts falling due within one year 8 328,487 304,600
NET CURRENT ASSETS 34,294 78,201
TOTAL ASSETS LESS CURRENT
LIABILITIES

395,519

435,664

CREDITORS
Amounts falling due after more than one
year

9

194,356

210,016
NET ASSETS 201,163 225,648

CAPITAL AND RESERVES
Called up share capital 1,007 1,006
Non distributable reserve 11 39,638 75,240
Retained earnings 160,518 149,402
201,163 225,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Property Management Ltd (Registered number: 03088004)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:




B Clifford - Director



J Franklin - Director


Foxes Property Management Ltd (Registered number: 03088004)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Foxes Property Management 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

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 etc - 15% 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Foxes Property Management Ltd (Registered number: 03088004)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 33,380
AMORTISATION
At 1 July 2023 13,745
Charge for year 11,126
At 30 June 2024 24,871
NET BOOK VALUE
At 30 June 2024 8,509
At 30 June 2023 19,635

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 97,810 99,495 197,305
Additions - 18,387 18,387
At 30 June 2024 97,810 117,882 215,692
DEPRECIATION
At 1 July 2023 - 89,477 89,477
Charge for year - 3,499 3,499
At 30 June 2024 - 92,976 92,976
NET BOOK VALUE
At 30 June 2024 97,810 24,906 122,716
At 30 June 2023 97,810 10,018 107,828

Foxes Property Management Ltd (Registered number: 03088004)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 230,000
NET BOOK VALUE
At 30 June 2024 230,000
At 30 June 2023 230,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2021 39,638
Cost 190,362
230,000

There has been no valuation of investment property by an independent valuer.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 13,543 9,762
Other debtors 171,191 151,229
184,734 160,991

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,162 9,911
Trade creditors 15,581 8,499
Taxation and social security 79,342 102,275
Other creditors 223,402 183,915
328,487 304,600

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 13,950 24,112
Other creditors 180,406 185,904
194,356 210,016

Foxes Property Management Ltd (Registered number: 03088004)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 24,675 21,357
Between one and five years 54,892 51,633
79,567 72,990

11. RESERVES
Non
distributable
reserve
£   
At 1 July 2023 75,240
Fair value transfer (35,602 )

At 30 June 2024 39,638

A transfer has been made from the non distributable reserve to retained earnings to reflect the reversal of a previous fair value adjustment for a property which was disposed of in the Year Ended 30 June 2022.