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No description of principal activities is disclosed
2021-01-01
Sage Accounts Production 21.0 - FRS102_2019
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2021-12-31
Company registration number:
08697697
F E Addlesee & Son Ltd
Unaudited filleted financial statements
31 December 2021
F E Addlesee & Son Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
F E Addlesee & Son Ltd
Directors and other information
|
|
|
|
Directors |
Mr Richard Nigel Addlesee |
|
|
Mrs Jennifer Elizabeth Addlesee |
|
|
Mrs Clare Louise Limb |
|
|
|
|
|
|
|
Company number |
08697697 |
|
|
|
|
|
|
|
Registered office |
44 Castle Street |
|
|
Boston |
|
|
Lincs |
|
|
PE21 8PN |
|
|
|
|
|
|
|
Business address |
44 Castle Street |
|
|
Boston |
|
|
Lincs |
|
|
PE21 8PN |
|
|
|
|
|
|
|
Accountants |
Lister & Co |
|
|
75 High Street |
|
|
Boston |
|
|
Lincs |
|
|
PE21 8SX |
|
|
|
F E Addlesee & Son Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of F E Addlesee & Son Ltd
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of F E Addlesee & Son Ltd for the year ended 31 December 2021 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of F E Addlesee & Son Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of F E Addlesee & Son Ltd and state those matters that we have agreed to state to the board of directors of F E Addlesee & Son Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than F E Addlesee & Son Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that F E Addlesee & Son Ltd 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 profit of F E Addlesee & Son Ltd. You consider that F E Addlesee & Son Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of F E Addlesee & Son Ltd. 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.
Lister & Co
ACCA
75 High Street
Boston
Lincs
PE21 8SX
3 August 2022
F E Addlesee & Son Ltd
Statement of financial position
31 December 2021
|
|
|
2021 |
|
|
|
2020 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
- |
|
|
|
- |
|
|
Tangible assets |
|
6 |
663,975 |
|
|
|
483,834 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
663,975 |
|
|
|
483,834 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
53,393 |
|
|
|
47,413 |
|
|
Debtors |
|
7 |
205,926 |
|
|
|
223,654 |
|
|
Investments |
|
8 |
443,549 |
|
|
|
314,151 |
|
|
Cash at bank and in hand |
|
|
1,311,440 |
|
|
|
1,204,013 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
2,014,308 |
|
|
|
1,789,231 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
419,237) |
|
|
|
(
384,256) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
1,595,071 |
|
|
|
1,404,975 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
2,259,046 |
|
|
|
1,888,809 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
34,756) |
|
|
|
(
6,642) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
2,224,290 |
|
|
|
1,882,167 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
10 |
|
|
300 |
|
|
|
300 |
Share premium account |
|
|
|
|
1,090,426 |
|
|
|
1,090,426 |
Profit and loss account |
|
|
|
|
1,133,564 |
|
|
|
791,441 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
2,224,290 |
|
|
|
1,882,167 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
03 August 2022
, and are signed on behalf of the board by:
Mr Richard Nigel Addlesee
Director
Company registration number:
08697697
F E Addlesee & Son Ltd
Notes to the financial statements
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 44 Castle Street, Boston, Lincs, PE21 8PN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Goodwill |
- |
20 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
2 % |
straight line |
|
Plant and machinery |
- |
15 % |
reducing balance |
|
Office Equipment |
- |
25 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
18
(2020:
16
).
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 January 2021 and 31 December 2021 |
300,000 |
300,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 January 2021 and 31 December 2021 |
300,000 |
300,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2021 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2020 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2021 |
434,948 |
62,760 |
22,337 |
533,407 |
1,053,452 |
|
|
|
Additions |
- |
2,126 |
- |
271,690 |
273,816 |
|
|
|
Disposals |
- |
- |
- |
(
169,201) |
(
169,201) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2021 |
434,948 |
64,886 |
22,337 |
635,896 |
1,158,067 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2021 |
60,893 |
33,803 |
16,151 |
458,771 |
569,618 |
|
|
|
Charge for the year |
8,699 |
4,375 |
1,550 |
58,906 |
73,530 |
|
|
|
Disposals |
- |
- |
- |
(
149,056) |
(
149,056) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2021 |
69,592 |
38,178 |
17,701 |
368,621 |
494,092 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2021 |
365,356 |
26,708 |
4,636 |
267,275 |
663,975 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2020 |
374,055 |
28,957 |
6,186 |
74,636 |
483,834 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
Trade debtors |
|
199,832 |
217,367 |
|
Other debtors |
|
6,094 |
6,287 |
|
|
|
_______ |
_______ |
|
|
|
205,926 |
223,654 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Investments
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
Other investments |
|
443,549 |
314,151 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
Trade creditors |
|
80,598 |
73,663 |
|
Corporation tax |
|
58,184 |
82,993 |
|
Social security and other taxes |
|
3,602 |
3,682 |
|
Other creditors |
|
276,853 |
223,918 |
|
|
|
_______ |
_______ |
|
|
|
419,237 |
384,256 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
|
|
2021 |
|
|
|
2020 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary A, B & C shares shares of £
1.00 each |
|
300 |
|
300 |
|
300 |
|
300 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|