FOX SADDLERS LIMITED

FOX SADDLERS LIMITED - Company Information

2021-05-012022-04-302022-04-30false04864350FOX SADDLERS LIMITED2022-09-2847789iso4217:GBPxbrli:pure048643502021-05-01048643502022-04-30048643502021-05-012022-04-30048643502020-05-01048643502021-04-30048643502020-05-012021-04-3004864350bus:SmallEntities2021-05-012022-04-3004864350bus:AuditExempt-NoAccountantsReport2021-05-012022-04-3004864350bus:FullAccounts2021-05-012022-04-3004864350bus:PrivateLimitedCompanyLtd2021-05-012022-04-3004864350core:WithinOneYear2022-04-3004864350core:AfterOneYear2022-04-3004864350core:WithinOneYear2021-04-3004864350core:AfterOneYear2021-04-3004864350core:ShareCapital2022-04-3004864350core:SharePremium2022-04-3004864350core:RevaluationReserve2022-04-3004864350core:OtherReservesSubtotal2022-04-3004864350core:RetainedEarningsAccumulatedLosses2022-04-3004864350core:ShareCapital2021-04-3004864350core:SharePremium2021-04-3004864350core:RevaluationReserve2021-04-3004864350core:OtherReservesSubtotal2021-04-3004864350core:RetainedEarningsAccumulatedLosses2021-04-3004864350core:LandBuildings2022-04-3004864350core:PlantMachinery2022-04-3004864350core:Vehicles2022-04-3004864350core:FurnitureFittings2022-04-3004864350core:OfficeEquipment2022-04-3004864350core:NetGoodwill2022-04-3004864350core:IntangibleAssetsOtherThanGoodwill2022-04-3004864350core:ListedExchangeTraded2022-04-3004864350core:UnlistedNon-exchangeTraded2022-04-3004864350core:LandBuildings2021-04-3004864350core:PlantMachinery2021-04-3004864350core:Vehicles2021-04-3004864350core:FurnitureFittings2021-04-3004864350core:OfficeEquipment2021-04-3004864350core:NetGoodwill2021-04-3004864350core:IntangibleAssetsOtherThanGoodwill2021-04-3004864350core:ListedExchangeTraded2021-04-3004864350core:UnlistedNon-exchangeTraded2021-04-3004864350core:LandBuildings2021-05-012022-04-3004864350core:PlantMachinery2021-05-012022-04-3004864350core:Vehicles2021-05-012022-04-3004864350core:FurnitureFittings2021-05-012022-04-3004864350core:OfficeEquipment2021-05-012022-04-3004864350core:NetGoodwill2021-05-012022-04-3004864350core:IntangibleAssetsOtherThanGoodwill2021-05-012022-04-3004864350core:ListedExchangeTraded2021-05-012022-04-3004864350core:UnlistedNon-exchangeTraded2021-05-012022-04-3004864350core:MoreThanFiveYears2021-05-012022-04-3004864350core:Non-currentFinancialInstruments2022-04-3004864350core:Non-currentFinancialInstruments2021-04-3004864350dpl:CostSales2021-05-012022-04-3004864350dpl:DistributionCosts2021-05-012022-04-3004864350dpl:AdministrativeExpenses2021-05-012022-04-3004864350core:LandBuildings2021-05-012022-04-3004864350core:PlantMachinery2021-05-012022-04-3004864350core:Vehicles2021-05-012022-04-3004864350core:FurnitureFittings2021-05-012022-04-3004864350core:OfficeEquipment2021-05-012022-04-3004864350core:NetGoodwill2021-05-012022-04-3004864350core:IntangibleAssetsOtherThanGoodwill2021-05-012022-04-3004864350dpl:GroupUndertakings2021-05-012022-04-3004864350dpl:ParticipatingInterests2021-05-012022-04-3004864350dpl:GroupUndertakingscore:ListedExchangeTraded2021-05-012022-04-3004864350core:ListedExchangeTraded2021-05-012022-04-3004864350dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-05-012022-04-3004864350core:UnlistedNon-exchangeTraded2021-05-012022-04-3004864350dpl:CostSales2020-05-012021-04-3004864350dpl:DistributionCosts2020-05-012021-04-3004864350dpl:AdministrativeExpenses2020-05-012021-04-3004864350core:LandBuildings2020-05-012021-04-3004864350core:PlantMachinery2020-05-012021-04-3004864350core:Vehicles2020-05-012021-04-3004864350core:FurnitureFittings2020-05-012021-04-3004864350core:OfficeEquipment2020-05-012021-04-3004864350core:NetGoodwill2020-05-012021-04-3004864350core:IntangibleAssetsOtherThanGoodwill2020-05-012021-04-3004864350dpl:GroupUndertakings2020-05-012021-04-3004864350dpl:ParticipatingInterests2020-05-012021-04-3004864350dpl:GroupUndertakingscore:ListedExchangeTraded2020-05-012021-04-3004864350core:ListedExchangeTraded2020-05-012021-04-3004864350dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-05-012021-04-3004864350core:UnlistedNon-exchangeTraded2020-05-012021-04-3004864350core:NetGoodwill2022-04-3004864350core:IntangibleAssetsOtherThanGoodwill2022-04-3004864350core:LandBuildings2022-04-3004864350core:PlantMachinery2022-04-3004864350core:Vehicles2022-04-3004864350core:FurnitureFittings2022-04-3004864350core:OfficeEquipment2022-04-3004864350core:AfterOneYear2022-04-3004864350core:WithinOneYear2022-04-3004864350core:ListedExchangeTraded2022-04-3004864350core:UnlistedNon-exchangeTraded2022-04-3004864350core:ShareCapital2022-04-3004864350core:SharePremium2022-04-3004864350core:RevaluationReserve2022-04-3004864350core:OtherReservesSubtotal2022-04-3004864350core:RetainedEarningsAccumulatedLosses2022-04-3004864350core:NetGoodwill2021-04-3004864350core:IntangibleAssetsOtherThanGoodwill2021-04-3004864350core:LandBuildings2021-04-3004864350core:PlantMachinery2021-04-3004864350core:Vehicles2021-04-3004864350core:FurnitureFittings2021-04-3004864350core:OfficeEquipment2021-04-3004864350core:AfterOneYear2021-04-3004864350core:WithinOneYear2021-04-3004864350core:Liste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Registered Number
04864350
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2022

FOX SADDLERS LIMITED

Company Information
for the year from 1 May 2021 to 30 April 2022


Directors	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 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Intangible assets	5		4,667		8,167
Tangible assets	7		17,496		24,157
			22,163		32,324
Current assets
Stocks	10	141,973		129,225
Debtors	11	16,926		12,019
Cash at bank and on hand		15,375		70,828
		174,274		212,072
Creditors amounts falling due within one year	12	(147,391)		(178,050)
Net current assets (liabilities)			26,883		34,022
Total assets less current liabilities			49,046		66,346
Creditors amounts falling due after one year	13		-		(20,417)
Provisions for liabilities	14		(3,324)		(4,590)
Net assets			45,722		41,339
Capital and reserves
Called up share capital			2		2
Profit and loss account			45,720		41,337
Shareholders' funds			45,722		41,339

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 28 September 2022, 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 2022

1.	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.

2.	Basis of measurement used in financial statements
	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.

3.	Accounting policies

	Functional and presentation currency policy
	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.

	Property, plant and equipment policy
	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:

Property, plant and equipment policy

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:


		Reducing balance (%)
	Fixtures and fittings	15
	Vehicles	25

	Intangible assets policy
	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.

	Stocks policy
	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.

	Taxation policy
	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 policy
	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.

Deferred tax policy

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.

	Government grants and other government assistance policy
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Government grants and other government assistance policy

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. 

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

	Leases policy
	Rentals payable under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Employee benefits policy
	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.

Employee benefits policy

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.

	Valuation of financial instruments policy
	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.

4.	Employee information
	The average monthly number of persons (including directors) employed by the company during the year was:


		2022		2021
	Average number of employees during the year	6		6

5.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 May 21	70,000	70,000
At 30 April 22	70,000	70,000
Amortisation and impairment
At 01 May 21	61,833	61,833
Charge for year	3,500	3,500
At 30 April 22	65,333	65,333
Net book value
At 30 April 22	4,667	4,667
At 30 April 21	8,167	8,167

6.	Useful life of intangible asset
	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.

7.	Property, plant and equipment

	Vehicles	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 May 21	17,890	28,186	46,076
At 30 April 22	17,890	28,186	46,076
Depreciation and impairment
At 01 May 21	5,883	16,036	21,919
Charge for year	3,002	3,659	6,661
At 30 April 22	8,885	19,695	28,580
Net book value
At 30 April 22	9,005	8,491	17,496
At 30 April 21	12,007	12,150	24,157

8.	Provisions for impairment of tangible assets
	At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

9.	Off balance sheet pension commitments
	The pension cost charge represents contributions payable by the company to the fund and amounted to £612.83.

10.	Stocks

	2022	2021
	£	£
Finished goods	141,973	129,225
Total	141,973	129,225

11.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	2,920	1,886
Prepayments and accrued income	14,006	10,133
Total	16,926	12,019


	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.

12.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	33,895	26,414
Bank borrowings and overdrafts	618	4,858
Taxation and social security	7,405	18,838
Other creditors	91,614	114,464
Accrued liabilities and deferred income	13,859	13,476
Total	147,391	178,050


	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.

13.	Creditors after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	-	20,417
Total	-	20,417


	Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.

14.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	3,324	4,590
Total	3,324	4,590