Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseOther letting and operating of own or leased real estate11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11268128 2023-04-01 2024-03-31 11268128 2022-04-01 2023-03-31 11268128 2024-03-31 11268128 2023-03-31 11268128 c:Director1 2023-04-01 2024-03-31 11268128 d:MotorVehicles 2023-04-01 2024-03-31 11268128 d:MotorVehicles 2024-03-31 11268128 d:MotorVehicles 2023-03-31 11268128 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11268128 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 11268128 d:FreeholdInvestmentProperty 2024-03-31 11268128 d:FreeholdInvestmentProperty 2023-03-31 11268128 d:CurrentFinancialInstruments 2024-03-31 11268128 d:CurrentFinancialInstruments 2023-03-31 11268128 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11268128 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11268128 d:ShareCapital 2024-03-31 11268128 d:ShareCapital 2023-03-31 11268128 d:RetainedEarningsAccumulatedLosses 2024-03-31 11268128 d:RetainedEarningsAccumulatedLosses 2023-03-31 11268128 c:FRS102 2023-04-01 2024-03-31 11268128 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11268128 c:FullAccounts 2023-04-01 2024-03-31 11268128 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11268128 6 2023-04-01 2024-03-31 11268128 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11268128









FIRFIELD FOX LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FIRFIELD FOX LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FIRFIELD FOX LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FirField Fox Limited for the year ended 31 March 2024 which comprise  the Balance Sheet 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 Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of FirField Fox Limited in accordance with the terms of our engagement letter dated 23 December 2024Our work has been undertaken solely to prepare for your approval the financial statements of FirField Fox Limited and state those matters that we have agreed to state to the director of FirField Fox Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FirField Fox Limited and its director for our work or for this report. 

It is your duty to ensure that FirField Fox Limited 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 loss of FirField Fox Limited. You consider that FirField Fox Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of FirField Fox Limited. 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.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birminghan
B16 8SP
25 December 2024
Page 1

 
FIRFIELD FOX LIMITED
REGISTERED NUMBER: 11268128

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
55,721
16,650

Investment property
 5 
1,046,833
710,008

  
1,102,554
726,658

Current assets
  

Debtors: amounts falling due within one year
 6 
-
30,000

Cash at bank and in hand
 7 
58,918
958

  
58,918
30,958

Creditors: amounts falling due within one year
 8 
(1,197,049)
(702,567)

Net current liabilities
  
 
 
(1,138,131)
 
 
(671,609)

Total assets less current liabilities
  
(35,577)
55,049

  

Net (liabilities)/assets
  
(35,577)
55,049

Page 2

 
FIRFIELD FOX LIMITED
REGISTERED NUMBER: 11268128
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(35,578)
55,048

  
(35,577)
55,049


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 December 2024.




Saghwat Hussain
Director

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
FIRFIELD FOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Firfield Fox Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration number of 11268128. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham, B16 8SP. The principal activity of the company in the year under review was that of other letting and operating of own or leased real estate.
The financial statements are presented in pound sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statments are set out below. These policies have been consistantly applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the directors as and when required.

Page 4

 
FIRFIELD FOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
FIRFIELD FOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
FIRFIELD FOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 April 2023
29,889


Additions
46,733



At 31 March 2024

76,622



Depreciation


At 1 April 2023
13,239


Charge for the year on owned assets
7,662



At 31 March 2024

20,901



Net book value



At 31 March 2024
55,721



At 31 March 2023
16,650

Page 7

 
FIRFIELD FOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
710,008


Additions at cost
336,825



At 31 March 2024
1,046,833

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,046,833
710,008

1,046,833
710,008


6.


Debtors

2024
2023
£
£


Prepayments and accrued income
-
30,000

-
30,000



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
58,918
958

58,918
958


Page 8

 
FIRFIELD FOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
4,866
10,450

Other taxation and social security
121
-

Other creditors
1,189,664
689,719

Accruals and deferred income
2,398
2,398

1,197,049
702,567



9.


Related party transactions

Mr Saghwat Hussain is also the director and shareholder of Vanguard Direct (Bham) Limited.
During the year the company received loans of £296,000 from Vanguard Direct (Bham) Limited. As at the balance sheet date, the company owed £398,000 (2023: £102,000) to Vanguard Direct (Bham) Limited, which is shown in Other Creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the
value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.

Mr Saghwat Hussain is also the director and shareholder of Stanmore Court Limited.
During the period, the company received loans of £nil from Stanmore Court Limited. As at the balance sheet date, the companed owed £10,000 (2023: £10,000) to Stanmore Court Limited, which is shown in Other Creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the
value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.


10.


Controlling party

During the period, the company was under the control of Saghwat Hussain, who is both a shareholder and
the director of the company.
 
Page 9