REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 August 2021 |
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Fox (Chain Saws) Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 August 2021 |
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for |
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Fox (Chain Saws) Limited |
Fox (Chain Saws) Limited (Registered number: 01196246) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Fox (Chain Saws) Limited |
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Company Information |
for the Year Ended 31 August 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Accountancy & Taxation Advisers |
Bank Chambers |
Brook Street |
Bishops Waltham |
Hampshire |
SO32 1AX |
Fox (Chain Saws) Limited (Registered number: 01196246) |
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Balance Sheet |
31 August 2021 |
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31.8.21 | 31.8.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Fox (Chain Saws) Limited (Registered number: 01196246) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2021 |
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1. | STATUTORY INFORMATION |
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Fox (Chain Saws) Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Tangible fixed assets |
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Freehold property | - |
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Plant & machinery | - |
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Fixtures & fittings | - |
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Financial instruments |
The Company only enters into basic financial instruments 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 non-puttable ordinary shares. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
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Creditors |
Short term creditors are measured at the transaction price. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Fox (Chain Saws) Limited (Registered number: 01196246) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Employee benefits |
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Freehold | Plant & | Fixtures |
property | machinery | & fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2020 |
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Disposals | ( |
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At 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 |
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Eliminated on disposal | ( |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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Fox (Chain Saws) Limited (Registered number: 01196246) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 September 2020 |
and 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.21 | 31.8.20 |
value: | £ | £ |
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Ordinary 'A' | £0.50 | 25,000 | 25,000 |
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Ordinary 'B' | £0.50 | 25,000 | 25,000 |
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Ordinary 'C' | £1 | 1 | 1 |
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Ordinary 'D' | £1 | 1 | 1 |
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Ordinary 'E' | £1 | 1 | 1 |
50,003 | 50,003 |
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Ordinary 'A' shares rank pari passu with existing share capital except they are not entitled to participate in dividend income or capital distribution. |
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Ordinary 'B', 'C', 'D' and 'E' shares rank pari passu with existing share capital except they do not give the shareholder any voting rights whatsoever. |
Fox (Chain Saws) Limited (Registered number: 01196246) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 August 2021 and 31 August 2020: |
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31.8.21 | 31.8.20 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties are Mr D and Mrs E M Fox, who are the directors of the company, and between them hold more than 50% of the voting share capital of the company. |