Foxlydiate Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09154895 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Foxlydiate Investments Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D R Le Neveu

R Lal

REGISTERED OFFICE:

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

REGISTERED NUMBER:

09154895 (England and Wales)

ACCOUNTANTS:

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Directors' Report are not

required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Foxlydiate Investments Ltd for the year ended

31 August 2019 which comprise the Profit and Loss Account, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Foxlydiate Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Foxlydiate Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Foxlydiate Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Foxlydiate Investments Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Foxlydiate Investments Ltd 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 Foxlydiate Investments Ltd. You consider that Foxlydiate Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Foxlydiate Investments Ltd. 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.

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

15 May 2020

FIXED ASSETS

Tangible assets

4

865

-

CURRENT ASSETS

Stocks

1,838,022

1,825,824

Debtors

5

335,025

1,966,153

Cash at bank

1,288

821

2,174,335

3,792,798

CREDITORS

Amounts falling due within one year

6

(2,789,997

)

(2,748,721

)

NET CURRENT (LIABILITIES)/ASSETS

(615,662

)

1,044,077

TOTAL ASSETS LESS CURRENT LIABILITIES

(614,797

)

1,044,077

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(614,897

)

1,043,977

(614,797

)

1,044,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2020 and were signed on its behalf by:

D R Le Neveu - Director

1.	STATUTORY INFORMATION

Foxlydiate Investments 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and

Loss Account, 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.

Going concern

At 31 August 2019 there was a deficiency of assets of £663,708. The company is dependent

upon the continued financial support of its creditors. It is understood that this support will

continue. On this basis the directors consider it appropriate to prepare financial statements

on a going concern basis. These financial statements do not include any adjustments which

would arise if the accounts had not been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

Additions

1,011

At 31 August 2019

1,011

DEPRECIATION

Charge for year

146

At 31 August 2019

146

NET BOOK VALUE

At 31 August 2019

865

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

126,957

-

Amounts owed by group undertakings

-

906,779

Other debtors

208,068

1,059,374

335,025

1,966,153

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

213,811

45,778

Amounts owed to group undertakings

-

137,500

Taxation and social security

91,848

1,312

Other creditors

2,484,338

2,564,131

2,789,997

2,748,721

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made a loan to D R Le Neveu, a director of the company. The

loan was unsecured and repayable on demand. Interest was charged at the official rate of

interest. The amount outstanding at 31 August 2019 was £151,068.

8.	RELATED PARTY DISCLOSURES

During the year the company has written off loans due from group companies to the amount

of £2,613,308.

During the year the company has written off loans due to group companies to the amount of

£913,767.

9.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary of St Philips Land Ltd, which is registered at Brook House,

Moss Grove, Kingswinford, West Midlands, DY6 9HS. The ultimate controlling party is St

Philips Ltd, which is registered at Brook House, Moss Grove, Kingswinford, West Midlands,

DY6 9HS.