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FOX SADDLERS LIMITED

Registered Number
04864350
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

FOX SADDLERS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

WHITEHOUSE, Keith

Registered Address

Northgates
Wetherby
West Yorkshire
LS22 6NX

Registered Number

04864350 (England and Wales)
FOX SADDLERS LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-1,167
Tangible assets59,05512,352
9,05513,519
Current assets
Stocks6116,973129,973
Debtors713,22914,157
Cash at bank and on hand1376,171
130,339150,301
Creditors amounts falling due within one year8(105,206)(129,061)
Net current assets (liabilities)25,13321,240
Total assets less current liabilities34,18834,759
Provisions for liabilities9(2,264)(2,347)
Net assets31,92432,412
Capital and reserves
Called up share capital22
Profit and loss account31,92232,410
Shareholders' funds31,92432,412
The financial statements were approved and authorised for issue by the Director on 2 January 2025, and are signed on its behalf by:
WHITEHOUSE, Keith
Director
Registered Company No. 04864350
FOX SADDLERS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees
The average monthly number of persons (including directors) employed by the company during the year was:

20242023
Average number of employees during the year45
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 May 2370,00070,000
At 30 April 2470,00070,000
Amortisation and impairment
At 01 May 2368,83368,833
Charge for year1,1671,167
At 30 April 2470,00070,000
Net book value
At 30 April 24--
At 30 April 231,1671,167
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Goodwill has been set at 20 years and the asset will be amortised on a straight line basis over that period.
5.Tangible fixed assets

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 May 2317,89028,18646,076
At 30 April 2417,89028,18646,076
Depreciation and impairment
At 01 May 2311,13722,58733,724
Charge for year1,6881,6093,297
At 30 April 2412,82524,19637,021
Net book value
At 30 April 245,0653,9909,055
At 30 April 236,7535,59912,352
6.Stocks

2024

2023

££
Finished goods116,973129,973
Total116,973129,973
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,9503,152
Prepayments and accrued income11,27911,005
Total13,22914,157
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables15,41815,323
Bank borrowings and overdrafts2,35544
Taxation and social security4,55110,444
Other creditors67,74789,369
Accrued liabilities and deferred income15,13513,881
Total105,206129,061
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. Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,2642,347
Total2,2642,347