REGISTERED NUMBER:
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RAVFOX LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 SEPTEMBER 2020 |
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REGISTERED NUMBER:
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RAVFOX LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 SEPTEMBER 2020 |
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RAVFOX LIMITED (REGISTERED NUMBER: 01648931) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 6 |
RAVFOX LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Langdon House |
Langdon Road |
SA1 Swansea Waterfront |
Swansea |
SA1 8QY |
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BANKERS: |
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9 Belle Vue Way |
Swansea |
SA1 5BX |
RAVFOX LIMITED (REGISTERED NUMBER: 01648931) |
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BALANCE SHEET |
30 SEPTEMBER 2020 |
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2020 | 2019 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 |
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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. |
RAVFOX LIMITED (REGISTERED NUMBER: 01648931) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2020 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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RAVFOX LIMITED (REGISTERED NUMBER: 01648931) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Ravfox Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company incurs costs in respect of the development that is managed and under the terms of the relevant leases all such costs are rechargeable. As the actual costs are not known with certainty at the commencement of any management year, provisional charges are made. When the actual costs are determined for the year, if there is a deficit then a further charge is made to recoup the shortfall. Alternatively if there is a surplus of income over expenditure, a provision is made in the financial statements and such an amount is carried forward and is available for offset against future costs. |
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Turnover |
Turnover represents rental and service charge income excluding value added tax. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Cash at bank and cash in hand |
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
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Creditors |
Short term creditors are measured at transaction price. |
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Provision for liabilities |
Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. |
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Going Concern |
The company continues to adopt the going concern basis in preparing its financial statements. |
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Functional and Presentation Currency |
The company's functional and presentation currency is pounds sterling. |
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Other notes |
The company is a vehicle to collect rent and service charges. All monies collected are treated as deferred and are released to the profit and loss account to match the annual revenue expenditure of the company. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Ground rent and management charges |
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RAVFOX LIMITED (REGISTERED NUMBER: 01648931) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
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Included in debtors is an amount of £11,318 due from Bulk Vending Systems. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
VAT | 819 | 957 |
Other creditors |
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Included within other creditors is an amount of £17,456 of service charge income which has been collected but not yet recognised as it is to cover future maintenance work. |
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6. | RELATED PARTY DISCLOSURES |
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During the year the company was charged a management fee of £4,000 by Bulk Vending Systems Limited, a company of which Mr L A J Dineen and Mr N J Dineen are directors. |
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During the year the company charged Insurance, Ground Rent and Service Charges amounting to £13,822 (2019: £19,637) to Bulk Vending Systems Limited. |
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7. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Bulk Vending Systems Limited. |
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There is no ultimate controlling party. |
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8. | FURTHER COSTS |
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As noted in the accounting policies, at the end of any management year, the actual costs incurred in management are determined and if the provisional charges made fall short of this amount then an additional charge is made to tenants. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
RAVFOX LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ravfox Limited for the year ended 30 September 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Ravfox Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ravfox Limited and state those matters that we have agreed to state to the Board of Directors of Ravfox Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ravfox Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Ravfox Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ravfox Limited. You consider that Ravfox Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Ravfox Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Langdon House |
Langdon Road |
SA1 Swansea Waterfront |
Swansea |
SA1 8QY |
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