The Fox North Waltham Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09251127 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

THE FOX NORTH WALTHAM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R R S MacKenzie

Mrs I R MacKenzie

REGISTERED OFFICE:

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

BUSINESS ADDRESS:

The Fox

Popham Lane

North Waltham

Hampshire

RG25 2BE

REGISTERED NUMBER:

09251127 (England and Wales)

FIXED ASSETS

Intangible assets

5

43,750

87,500

Tangible assets

6

43,962

63,603

87,712

151,103

CURRENT ASSETS

Stocks

10,856

11,143

Debtors

7

12,270

8,760

Cash at bank and in hand

55,816

27,184

78,942

47,087

CREDITORS

Amounts falling due within one year

8

84,960

122,486

NET CURRENT LIABILITIES

(6,018

)

(75,399

)

TOTAL ASSETS LESS CURRENT LIABILITIES

81,694

75,704

PROVISIONS FOR LIABILITIES

3,316

6,255

NET ASSETS

78,378

69,449

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

78,278

69,349

SHAREHOLDERS' FUNDS

78,378

69,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 29 January 2018 and were signed on its behalf by:

Mr R R S MacKenzie - Director

1.	STATUTORY INFORMATION

The Fox North Waltham 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

This is the first year that the company has presented its financial statements under Section 1A "Small Entities" of

Financial Reporting Standard 102 (FRS 102 Section 1A) issued by the Financial Reporting Council. The last

financial statements, for the year ended 31 October 2016, were prepared under previous UK GAAP. The

transition date to FRS 102 Section 1A is therefore 1 November 2015.

Adopting FRS 102 Section 1A has not resulted in any changes to the company's existing accounting policies

which were being applied prior to transition. There was no change to the reported profit and loss account or

closing equity position of the business for the year ended 31 October 2016 as a result of the transition, nor to the

opening equity position at the date of transition.

Turnover

The turnover shown in the profit and loss account represents daily takings received during the period, exclusive

of Value Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

25% straight line

Motor vehicles

-

25% on reducing balance

All fixed assets are initially recorded at cost.

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 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.

Pension costs and other post-retirement benefits

The company contributes to a defined contribution pension scheme. Contributions payable to the pension

scheme are charged to the Income Statement in the period to which they relate.

Debtors and creditors receivable / payable within one year

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 in administrative

expenses.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2016 - 13 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 31 October 2017

175,000

AMORTISATION

At 1 November 2016

87,500

Amortisation for year

43,750

At 31 October 2017

131,250

NET BOOK VALUE

At 31 October 2017

43,750

At 31 October 2016

87,500

Goodwill is being written off in equal instalments over its estimated useful economic life of 4 years.

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 November 2016

53,783

35,528

89,311

Additions

3,151

-

3,151

At 31 October 2017

56,934

35,528

92,462

DEPRECIATION

At 1 November 2016

24,956

752

25,708

Charge for year

14,098

8,694

22,792

At 31 October 2017

39,054

9,446

48,500

NET BOOK VALUE

At 31 October 2017

17,880

26,082

43,962

At 31 October 2016

28,827

34,776

63,603

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

12,270

8,760

Included in other debtors is £6,708 (2016: £3,350) in relation to prepayments and accrued income.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

14,417

Trade creditors

12,616

15,018

Taxation and social security

42,494

30,727

Other creditors

29,850

62,324

84,960

122,486

Included in other creditors is £6,151 (2016: £7,239) in relation to accruals and deferred income.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

-

14,417

Hire purchase contracts are secured over the assets acquired under the agreements.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

50

'A' Ordinary

£1

50

50

500

'B' Ordinary

£0.10

50

50

100

100