Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3025true2022-07-01falseNo description of principal activity27trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC051089 2022-07-01 2023-06-30 SC051089 2021-07-01 2022-06-30 SC051089 2023-06-30 SC051089 2022-06-30 SC051089 c:CompanySecretary1 2022-07-01 2023-06-30 SC051089 c:Director1 2022-07-01 2023-06-30 SC051089 c:Director2 2022-07-01 2023-06-30 SC051089 c:Director3 2022-07-01 2023-06-30 SC051089 c:Director5 2022-07-01 2023-06-30 SC051089 c:Director6 2022-07-01 2023-06-30 SC051089 c:RegisteredOffice 2022-07-01 2023-06-30 SC051089 d:Buildings 2022-07-01 2023-06-30 SC051089 d:Buildings 2023-06-30 SC051089 d:Buildings 2022-06-30 SC051089 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC051089 d:PlantMachinery 2022-07-01 2023-06-30 SC051089 d:PlantMachinery 2023-06-30 SC051089 d:PlantMachinery 2022-06-30 SC051089 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC051089 d:MotorVehicles 2022-07-01 2023-06-30 SC051089 d:MotorVehicles 2023-06-30 SC051089 d:MotorVehicles 2022-06-30 SC051089 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC051089 d:FurnitureFittings 2022-07-01 2023-06-30 SC051089 d:FurnitureFittings 2023-06-30 SC051089 d:FurnitureFittings 2022-06-30 SC051089 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC051089 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC051089 d:CurrentFinancialInstruments 2023-06-30 SC051089 d:CurrentFinancialInstruments 2022-06-30 SC051089 d:Non-currentFinancialInstruments 2023-06-30 SC051089 d:Non-currentFinancialInstruments 2022-06-30 SC051089 c:OrdinaryShareClass1 2022-07-01 2023-06-30 SC051089 c:OrdinaryShareClass1 2023-06-30 SC051089 c:OrdinaryShareClass1 2022-06-30 SC051089 c:FRS102 2022-07-01 2023-06-30 SC051089 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 SC051089 c:FullAccounts 2022-07-01 2023-06-30 SC051089 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC051089 d:WithinOneYear 2023-06-30 SC051089 d:WithinOneYear 2022-06-30 SC051089 d:BetweenOneFiveYears 2023-06-30 SC051089 d:BetweenOneFiveYears 2022-06-30 SC051089 6 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC051089










FIFE GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 
FIFE GROUP LIMITED
 

COMPANY INFORMATION


Directors
G E Donald 
J S Kilgour 
I Russell 
J G Russell 
G A Keddie 




Company secretary
G E Donald



Registered number
SC051089



Registered office
Unit 1
Waverley Road

Mitchelston Industrial Estate

Kirkcaldy

Fife

KY1 3NH




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
FIFE GROUP LIMITED
REGISTERED NUMBER: SC051089

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
£
£

  

Fixed assets
  

Tangible assets
 4 
8,362,659
8,583,239

Investments
 5 
9,999
9,999

  
8,372,658
8,593,238

Current assets
  

Debtors: amounts falling due within one year
 6 
1,048,221
978,375

Cash at bank and in hand
  
651,322
641,831

  
1,699,543
1,620,206

Creditors: amounts falling due within one year
 7 
(1,229,146)
(1,259,040)

Net current assets
  
 
 
470,397
 
 
361,166

Total assets less current liabilities
  
8,843,055
8,954,404

  

Creditors: amounts falling due after more than one year
 8 
(110,000)
(130,062)

  
8,733,055
8,824,342

Provisions for liabilities
  

Deferred taxation
  
(42,087)
(40,045)

  
 
 
(42,087)
 
 
(40,045)

  

Net assets
  
8,690,968
8,784,297


Capital and reserves
  

Called up share capital 
 9 
167,680
167,680

Profit and loss account
  
8,523,288
8,616,617

  
8,690,968
8,784,297


Page 1

 
FIFE GROUP LIMITED
REGISTERED NUMBER: SC051089

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J S Kilgour
Director

Date: 26 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FIFE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Fife Group Limited is limited by shares and incorporated in Scotland with registration number SC051089.  The address of the registered office is Unit 1, Waverley Road, Mitchelston Industrial Estate, Kirkcaldy, Fife, KY1 3NH. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
FIFE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
FIFE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Heritable property
-
2% straight line
Plant and machinery
-
15% straight line
Motor vehicles
-
15% straight line
Fixtures, fittings and equipment
-
15% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 27).

Page 5

 
FIFE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Heritable property
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
10,144,955
1,763,010
196,102
357,435
12,461,502


Additions
5,000
13,877
15,295
-
34,172


Disposals
-
-
(7,972)
-
(7,972)



At 30 June 2023

10,149,955
1,776,887
203,425
357,435
12,487,702



Depreciation


At 1 July 2022
1,812,815
1,587,082
145,422
332,944
3,878,263


Charge for the year on owned assets
178,911
48,289
17,763
9,789
254,752


Disposals
-
-
(7,972)
-
(7,972)



At 30 June 2023

1,991,726
1,635,371
155,213
342,733
4,125,043



Net book value



At 30 June 2023
8,158,229
141,516
48,212
14,702
8,362,659



At 30 June 2022
8,332,140
175,928
50,680
24,491
8,583,239


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
9,999



At 30 June 2023
9,999




Page 6

 
FIFE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

2023
2022
£
£


Trade debtors
729,941
707,096

Prepayments and accrued income
318,280
271,279

1,048,221
978,375



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
20,402

Trade creditors
484,096
405,837

Other taxation and social security
247,859
377,439

Obligations under finance lease and hire purchase contracts
20,062
6,935

Other creditors
731
488

Accruals and deferred income
476,398
447,939

1,229,146
1,259,040


Secured loans
Bank loans falling due within one year are secured by a bond and floating charge and standard security over the company's assets, properties and land.
The company has access to a secured overdraft facility of £300,000.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
100,000
100,000

Net obligations under finance leases and hire purchase contracts
-
20,062

Amounts owed to group undertakings
10,000
10,000

110,000
130,062




Page 7

 
FIFE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



167,680 (2022 - 167,680) Ordinary shares of £1.00 each
167,680
167,680



10.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
5,542
7,792

Later than 1 year and not later than 5 years
8,385
13,927

13,927
21,719


Page 8