Fox Lima Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02777281 (England and Wales)

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FOX LIMA HOLDINGS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Lanni

REGISTERED OFFICE:

16 The Hall Close

Dunchurch

Rugby

Warwickshire

CV22 6NP

REGISTERED NUMBER:

02777281 (England and Wales)

ACCOUNTANTS:

HB&O Ltd

Chartered Accountants

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

BANKERS:

National Westminster Bank plc

36 Earlsdon Street

Coventry

CV3 5ZZ

SOLICITORS:

Band Hatton Button LLP

53-55 Butts Road

Coventry

CV1 3BH

FIXED ASSETS

Tangible assets

4

-

Investment property

5

15,000,000

CURRENT ASSETS

Debtors

6,076

109,093

Investments

21,064,701

17,566,433

Cash at bank

417,068

688,394

21,487,845

18,363,920

CREDITORS

Amounts falling due within one year

7,012,435

7,926,309

NET CURRENT ASSETS

14,475,410

10,437,611

TOTAL ASSETS LESS CURRENT
LIABILITIES

29,475,410

25,437,611

PROVISIONS FOR LIABILITIES

2,120,714

1,562,908

NET ASSETS

27,354,696

23,874,703

CAPITAL AND RESERVES

Called up share capital

50,000

Fair value reserve

6,586,197

Retained earnings

20,718,499

17,238,506

SHAREHOLDERS' FUNDS

27,354,696

23,874,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2025 and were signed by:

P Lanni - Director

1.	STATUTORY INFORMATION

Fox Lima Holdings Limited 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Critical accounting judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Accounting estimates

i) Valuation of property

The director annually assesses or obtains an independent assessment of the investment property in the financial statements. These annual assessments aim to ensure that property is carried at fair value as defined by FRS 102 and will be informed by latest market data, including: rental yields based on market rentals; and recent sales for the type of property in the local area.

The carrying value of investment property in the company remains at £15,000,000, as disclosed in note 6.

Tangible fixed assets

Depreciation is provided on all tangible fixed assets other than investment properties at rates calculated to write each asset down to its estimated residual value evenly over its expected useful life, as follows:

Plant and machinery over 10 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. Deferred taxation is provided on the surplus or deficit at the rate expected to apply when the property is sold.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Rental income

The income from assets leased under operating leases is recognised as turnover in the period in which it is earned. Rent free periods or other incentives provided for entering into a lease are accounted for over the period of the lease so as to spread the cost over the lease term.

Fair value reserve

The fair value reserve comprises cumulative unrealised adjustments to the carrying value of investment property.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

694,822

DEPRECIATION

At 1 January 2024

and 31 December 2024

694,822

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

15,000,000

NET BOOK VALUE

At 31 December 2024

15,000,000

At 31 December 2023

15,000,000

Investment property was valued in December 2024 on a fair value basis by the director.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

7,560,835

Cost

7,439,165

15,000,000

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Since the group reorganisation in October 2021, the company could no longer take exemptions for transactions and balances with its former subsidiary undertakings, Whitefurze Limited and Langstone Plastics Limited. During the year the company received rental income of £1,140,000 (2023: £1,140,000) from its former subsidiary undertakings and, included within other creditors, owed £5,537,436 (2023: £6,537,974) at 31 December 2024 to its former subsidiary undertakings.

In 2012 the company received a loan from L Lanni, wife of P Lanni, totalling £750,000. At 31 December 2024 the balance due to L Lanni was £585,000.

7.	CONTROLLING INTERESTS

The company is controlled by P Lanni.