Registration number:
Aaron Fox Limited
for the Year Ended 31 March 2021
Aaron Fox Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Aaron Fox Limited
Company Information
Directors |
Mr AL Parsons Mr M Scott |
Company secretary |
Mr M Scott |
Registered office |
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Accountants |
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Aaron Fox Limited
(Registration number: 03745902)
Balance Sheet as at 31 March 2021
Note |
2021 |
2020 |
|
Fixed assets |
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Investment property |
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Other financial assets |
17 |
17 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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|
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Revaluation reserve |
46,559 |
34,410 |
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Profit and loss account |
113,055 |
112,959 |
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Shareholders' funds |
159,714 |
147,469 |
For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Aaron Fox Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment property
Aaron Fox Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2021 |
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At 1 April |
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Fair value adjustments |
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At 31 March |
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The valuation of the fair value of the property at each year end was undertaken by Mr A Parsons FRICS, who is a director of the company.
There has been no valuation of investment property by an independent valuer.
Aaron Fox Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2020 |
17 |
17 |
At 31 March 2021 |
17 |
17 |
Impairment |
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Carrying amount |
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At 31 March 2021 |
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17 |
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Aaron Fox Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
Revaluation reserve |
Total |
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Surplus/(deficit) on property, plant and equipment revaluation |
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Dividends |
2021 |
2020 |
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£ |
£ |
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Interim dividend of £
|
9,360 |
9,270 |
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Related party transactions |
Summary of transactions with other related parties
Expenditure with and payables to related parties
2021 |
2020 |
Other related parties |
Rendering of services |
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Loans to related parties
2021 |
Other related parties |
Total |
At start of period |
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At end of period |
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2020 |
Other related parties |
Total |
Advanced |
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At end of period |
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Aaron Fox Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Parent and ultimate parent undertaking |
The ultimate controlling party is