Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseNo description of principal activity1212truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07971028 2023-07-01 2024-06-30 07971028 2022-07-01 2023-06-30 07971028 2024-06-30 07971028 2023-06-30 07971028 c:Director1 2023-07-01 2024-06-30 07971028 c:Director2 2023-07-01 2024-06-30 07971028 d:FurnitureFittings 2023-07-01 2024-06-30 07971028 d:FurnitureFittings 2024-06-30 07971028 d:FurnitureFittings 2023-06-30 07971028 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07971028 d:ComputerEquipment 2023-07-01 2024-06-30 07971028 d:ComputerEquipment 2024-06-30 07971028 d:ComputerEquipment 2023-06-30 07971028 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07971028 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07971028 d:Goodwill 2023-07-01 2024-06-30 07971028 d:Goodwill 2024-06-30 07971028 d:Goodwill 2023-06-30 07971028 d:CurrentFinancialInstruments 2024-06-30 07971028 d:CurrentFinancialInstruments 2023-06-30 07971028 d:Non-currentFinancialInstruments 2024-06-30 07971028 d:Non-currentFinancialInstruments 2023-06-30 07971028 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07971028 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07971028 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 07971028 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07971028 d:ShareCapital 2024-06-30 07971028 d:ShareCapital 2023-06-30 07971028 d:RetainedEarningsAccumulatedLosses 2024-06-30 07971028 d:RetainedEarningsAccumulatedLosses 2023-06-30 07971028 c:OrdinaryShareClass1 2023-07-01 2024-06-30 07971028 c:OrdinaryShareClass1 2024-06-30 07971028 c:OrdinaryShareClass1 2023-06-30 07971028 c:FRS102 2023-07-01 2024-06-30 07971028 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07971028 c:FullAccounts 2023-07-01 2024-06-30 07971028 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07971028 1 2023-07-01 2024-06-30 07971028 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 07971028 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07971028 d:Goodwill d:OwnedIntangibleAssets 2023-07-01 2024-06-30 07971028 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07971028












FOX & SONS LYMINGTON LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024











Fletcher & Partners
Chartered Accountants

 
FOX & SONS LYMINGTON LIMITED
REGISTERED NUMBER:07971028

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
132,211
151,099

Tangible assets
 5 
7,841
10,407

  
140,052
161,506

Current assets
  

Debtors: amounts falling due after more than one year
 6 
15,625
16,625

Debtors: amounts falling due within one year
 6 
88,033
90,764

Cash at bank and in hand
  
279,747
330,694

  
383,405
438,083

Creditors: amounts falling due within one year
 7 
(194,619)
(198,710)

Net current assets
  
 
 
188,786
 
 
239,373

Total assets less current liabilities
  
328,838
400,879

Creditors: amounts falling due after more than one year
 8 
(9,163)
(31,164)

Provisions for liabilities
  

Deferred tax
  
(1,960)
(2,602)

  
 
 
(1,960)
 
 
(2,602)

Net assets
  
317,715
367,113


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
317,615
367,013

  
317,715
367,113


Page 1

 
FOX & SONS LYMINGTON LIMITED
REGISTERED NUMBER:07971028

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 by: 




C E Tizzard
I L King
Director
Director


Date: 21 March 2025
Date:21 March 2025

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

Page 2

 
FOX & SONS LYMINGTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Fox & Sons Lymington Limited (07971028) is a private company limited by shares, incorporated in England and Wales. Its registered office and principal place of business is 85 High Street, Lymington, SO41 9AN.

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.

The following principal accounting policies have been applied:

 
2.2

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. 
Fee receivable from sales of properties is recognised on the date contracts are exchanged unconditionally.
Comission earned  from property lettings is recognised when the underlying service has been performed, including tenant introduction, rent collection or full property management.

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other 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.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
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.

Page 3

 
FOX & SONS LYMINGTON LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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:

Fixtures and fittings
-
20% straight line
Computer equipment
-
33.33% straight line

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.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

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. 

 
2.7

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.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.9

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
FOX & SONS LYMINGTON LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).

Page 5

 
FOX & SONS LYMINGTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
188,875



At 30 June 2024

188,875



Amortisation


At 1 July 2023
37,776


Charge for the year on owned assets
18,888



At 30 June 2024

56,664



Net book value



At 30 June 2024
132,211



At 30 June 2023
151,099



Page 6

 
FOX & SONS LYMINGTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
25,264
9,509
34,773


Additions
-
1,023
1,023



At 30 June 2024

25,264
10,532
35,796



Depreciation


At 1 July 2023
15,686
8,679
24,365


Charge for the year on owned assets
2,709
881
3,590



At 30 June 2024

18,395
9,560
27,955



Net book value



At 30 June 2024
6,869
972
7,841



At 30 June 2023
9,578
830
10,408


6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
15,625
16,625

15,625
16,625


2024
2023
£
£

Due within one year

Trade debtors
8,759
5,953

Other debtors
63,500
64,000

Prepayments and accrued income
15,774
8,311

Tax recoverable
-
12,500

88,033
90,764


Page 7

 
FOX & SONS LYMINGTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
15,323
6,882

Corporation tax
41,835
39,559

Other taxation and social security
38,965
40,045

Other creditors
78,441
90,074

Accruals and deferred income
10,055
12,150

194,619
198,710



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
9,163
19,164

Other creditors
-
12,000

9,163
31,164



9.


Deferred taxation




2024


£






At beginning of year
(2,602)


Charged to profit or loss
642



At end of year
(1,960)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,960)
(2,602)

(1,960)
(2,602)

Page 8

 
FOX & SONS LYMINGTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.Financial commitments, contingencies and guarantees

At 30 June 2024 the company had £117,960 of future minimum lease payments under non-cancellable operating leases (2023: £138,805).


12.


Transactions with directors

C Tizzard, a director, had a loan with the company. The loan stood at £31,250 (2023: £56,250) at the beginning of the year. During the year the director repaid £0 (2023: £25,000). The loan does not have a fixed repayment date. The director was charged interest at the HMRC official rate.
I King, a director, had a loan with the company. The loan stood at £31,250 (2023: £56,250) at the beginning of the year. During the year the director repaid £0 (2023: £25,000). The loan does not have a fixed repayment date. The director was charged interest at the HMRC official rate.
C Tizzard had a current account with the company which became overdrawn. This constitutes an advance by the company. The total of advances was £11,265 (2023: £21,476). The director repaid the whole amount of £11,265 (2023: £21,476) by the year end. The director is charged interest at the HMRC official rate for periods when the director's current account becomes overdrawn by more than £10,000.
The summary of the information above:
The total owed by C Tizzard to the company at the beginning of the year was £31,250 (2023: £56,250). The total of all advances to the directors during the year was £11,265 (2023: £21,476). The total of repayments was £11,265 (2023: £46,476).
The total owed by I King to the company at the beginning of the year was £31,250 (2023: £56,250). The total of repayments was £0 (2023: £25,000).


13.


Post balance sheet events

After the year end, C Tizzard and I King entered into a ten-year operating lease for premises at an initial rate of £27,000 per annum for the benefit of the company. The event is was non-adjusting post balance sheet event.


Page 9