FOX SADDLERS LIMITED

FOX SADDLERS LIMITED - Company Information

2022-05-012023-04-302023-04-30false04864350FOX SADDLERS LIMITED2023-12-11iso4217:GBPxbrli:pure048643502022-05-01048643502023-04-30048643502022-05-012023-04-30048643502021-05-01048643502022-04-30048643502021-05-012022-04-3004864350bus:SmallEntities2022-05-012023-04-3004864350bus:AuditExempt-NoAccountantsReport2022-05-012023-04-3004864350bus:FullAccounts2022-05-012023-04-3004864350bus:PrivateLimitedCompanyLtd2022-05-012023-04-3004864350core:WithinOneYear2023-04-3004864350core:AfterOneYear2023-04-3004864350core:WithinOneYear2022-04-3004864350core:AfterOneYear2022-04-3004864350core:ShareCapital2023-04-3004864350core:SharePremium2023-04-3004864350core:RevaluationReserve2023-04-3004864350core:OtherReservesSubtotal2023-04-3004864350core:RetainedEarningsAccumulatedLosses2023-04-3004864350core:ShareCapital2022-04-3004864350core:SharePremium2022-04-3004864350core:RevaluationReserve2022-04-3004864350core:OtherReservesSubtotal2022-04-3004864350core:RetainedEarningsAccumulatedLosses2022-04-3004864350core:LandBuildings2023-04-3004864350core:PlantMachinery2023-04-3004864350core:Vehicles2023-04-3004864350core:FurnitureFittings2023-04-3004864350core:OfficeEquipment2023-04-3004864350core:NetGoodwill2023-04-3004864350core:IntangibleAssetsOtherThanGoodwill2023-04-3004864350core:ListedExchangeTraded2023-04-3004864350core:UnlistedNon-exchangeTraded2023-04-3004864350core: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:LandBuildings2022-05-012023-04-3004864350core:PlantMachinery2022-05-012023-04-3004864350core:Vehicles2022-05-012023-04-3004864350core:FurnitureFittings2022-05-012023-04-3004864350core:OfficeEquipment2022-05-012023-04-3004864350core:NetGoodwill2022-05-012023-04-3004864350core:IntangibleAssetsOtherThanGoodwill2022-05-012023-04-3004864350core:ListedExchangeTraded2022-05-012023-04-3004864350core:UnlistedNon-exchangeTraded2022-05-012023-04-3004864350core:MoreThanFiveYears2022-05-012023-04-3004864350core:Non-currentFinancialInstruments2023-04-3004864350core:Non-currentFinancialInstruments2022-04-3004864350dpl:CostSales2022-05-012023-04-3004864350dpl:DistributionCosts2022-05-012023-04-3004864350core:LandBuildings2022-05-012023-04-3004864350core:PlantMachinery2022-05-012023-04-3004864350core:Vehicles2022-05-012023-04-3004864350core:FurnitureFittings2022-05-012023-04-3004864350core:OfficeEquipment2022-05-012023-04-3004864350dpl:AdministrativeExpenses2022-05-012023-04-3004864350core:NetGoodwill2022-05-012023-04-3004864350core:IntangibleAssetsOtherThanGoodwill2022-05-012023-04-3004864350dpl:GroupUndertakings2022-05-012023-04-3004864350dpl:ParticipatingInterests2022-05-012023-04-3004864350dpl:GroupUndertakingscore:ListedExchangeTraded2022-05-012023-04-3004864350core:ListedExchangeTraded2022-05-012023-04-3004864350dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-05-012023-04-3004864350core:UnlistedNon-exchangeTraded2022-05-012023-04-3004864350dpl:CostSales2021-05-012022-04-3004864350dpl:DistributionCosts2021-05-012022-04-3004864350core:LandBuildings2021-05-012022-04-3004864350core:PlantMachinery2021-05-012022-04-3004864350core:Vehicles2021-05-012022-04-3004864350core:FurnitureFittings2021-05-012022-04-3004864350core:OfficeEquipment2021-05-012022-04-3004864350dpl:AdministrativeExpenses2021-05-012022-04-3004864350core: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-exchangeTraded2021-05-012022-04-3004864350core:NetGoodwill2023-04-3004864350core:IntangibleAssetsOtherThanGoodwill2023-04-3004864350core:LandBuildings2023-04-3004864350core:PlantMachinery2023-04-3004864350core:Vehicles2023-04-3004864350core:FurnitureFittings2023-04-3004864350core:OfficeEquipment2023-04-3004864350core:AfterOneYear2023-04-3004864350core:WithinOneYear2023-04-3004864350core:ListedExchangeTraded2023-04-3004864350core:UnlistedNon-exchangeTraded2023-04-3004864350core:ShareCapital2023-04-3004864350core:SharePremium2023-04-3004864350core:RevaluationReserve2023-04-3004864350core:OtherReservesSubtotal2023-04-3004864350core:RetainedEarningsAccumulatedLosses2023-04-3004864350core: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:ListedExch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Registered Number
04864350
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

FOX SADDLERS LIMITED

Company Information
for the year from 1 May 2022 to 30 April 2023


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 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Intangible assets	6		1,167		4,667
Tangible assets	8		12,352		17,496
			13,519		22,163
Current assets
Stocks	10	129,973		141,973
Debtors	11	14,157		16,926
Cash at bank and on hand		6,171		15,375
		150,301		174,274
Creditors amounts falling due within one year	12	(129,061)		(147,391)
Net current assets (liabilities)			21,240		26,883
Total assets less current liabilities			34,759		49,046
Provisions for liabilities	13		(2,347)		(3,324)
Net assets			32,412		45,722
Capital and reserves
Called up share capital			2		2
Profit and loss account			32,410		45,720
Shareholders' funds			32,412		45,722

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 11 December 2023, 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 2023

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.	Principal activities
	The principal activity of the company during the year was that of an equestrian saddlery shop.

3.	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.

4.	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.

	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.

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


		2023		2022
	Average number of employees during the year	5		6

6.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 May 22	70,000	70,000
At 30 April 23	70,000	70,000
Amortisation and impairment
At 01 May 22	65,333	65,333
Charge for year	3,500	3,500
At 30 April 23	68,833	68,833
Net book value
At 30 April 23	1,167	1,167
At 30 April 22	4,667	4,667

7.	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.

8.	Property, plant and equipment

	Vehicles	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 May 22	17,890	28,186	46,076
At 30 April 23	17,890	28,186	46,076
Depreciation and impairment
At 01 May 22	8,885	19,695	28,580
Charge for year	2,252	2,892	5,144
At 30 April 23	11,137	22,587	33,724
Net book value
At 30 April 23	6,753	5,599	12,352
At 30 April 22	9,005	8,491	17,496

9.	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.

10.	Stocks

	2023	2022
	£	£
Finished goods	129,973	141,973
Total	129,973	141,973

11.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	3,152	2,920
Prepayments and accrued income	11,005	14,006
Total	14,157	16,926


	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

	2023	2022
	£	£
Trade creditors / trade payables	15,323	33,895
Bank borrowings and overdrafts	44	618
Taxation and social security	10,444	7,405
Other creditors	89,369	91,614
Accrued liabilities and deferred income	13,881	13,859
Total	129,061	147,391


	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.

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.

13.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	2,347	3,324
Total	2,347	3,324