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Company Registration No. 10758102 (England and Wales)
Fellpack Limited Unaudited accounts for the year ended 31 May 2023
Fellpack Limited Unaudited accounts Contents
Page
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Fellpack Limited Company Information for the year ended 31 May 2023
Directors
John Butterfield Christopher Gill
Company Number
10758102 (England and Wales)
Registered Office
21 Main Street Keswick CA12 5BL England
Accountants
Goodbooks (Skipton) Ltd Duke House Duke Street Skipton North Yorkshire BD23 2HQ
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Fellpack Limited for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fellpack Limited for the year ended 31 May 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Fellpack Limited, as a body, in accordance with the terms of our engagement letter dated 14 December 2020. Our work has been undertaken solely to prepare for your approval the accounts of Fellpack Limited and state those matters that we have agreed to state to the Board of Directors of Fellpack Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fellpack Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fellpack Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fellpack Limited. You consider that Fellpack Limited 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 accounts of Fellpack 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 accounts.
Goodbooks (Skipton) Ltd Chartered Accountants Duke House Duke Street Skipton North Yorkshire BD23 2HQ 22 January 2024
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Fellpack Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
55,234 
54,768 
Tangible assets
1,655,017 
310,109 
1,710,251 
364,877 
Current assets
Inventories
27,800 
27,800 
Debtors
8,157 
10,618 
Cash at bank and in hand
105,973 
386,631 
141,930 
425,049 
Creditors: amounts falling due within one year
(467,712)
(348,133)
Net current (liabilities)/assets
(325,782)
76,916 
Total assets less current liabilities
1,384,469 
441,793 
Creditors: amounts falling due after more than one year
(939,182)
(144,499)
Net assets
445,287 
297,294 
Capital and reserves
Called up share capital
24 
24 
Share premium
99,996 
99,996 
Profit and loss account
345,267 
197,274 
Shareholders' funds
445,287 
297,294 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by
John Butterfield Director Company Registration No. 10758102
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Fellpack Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Fellpack Limited is a private company, limited by shares, registered in England and Wales, registration number 10758102. The registered office is 21 Main Street, Keswick, CA12 5BL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Leasehold improvements over the remaining term of the lease. Freehold buildings 1% straight line.
Fixtures & fittings
25% straight line.
Computer equipment
33.3% straight line.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Fellpack Limited Notes to the Accounts for the year ended 31 May 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 June 2022
62,001 
- 
62,001 
Additions
- 
8,000 
8,000 
At 31 May 2023
62,001 
8,000 
70,001 
Amortisation
At 1 June 2022
7,233 
- 
7,233 
Charge for the year
6,200 
1,334 
7,534 
At 31 May 2023
13,433 
1,334 
14,767 
Net book value
At 31 May 2023
48,568 
6,666 
55,234 
At 31 May 2022
54,768 
- 
54,768 
5
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
294,132 
260,482 
2,004 
556,618 
Additions
1,402,172 
82,331 
1,290 
1,485,793 
At 31 May 2023
1,696,304 
342,813 
3,294 
2,042,411 
Depreciation
At 1 June 2022
163,828 
80,824 
1,857 
246,509 
Charge for the year
68,524 
71,969 
392 
140,885 
At 31 May 2023
232,352 
152,793 
2,249 
387,394 
Net book value
At 31 May 2023
1,463,952 
190,020 
1,045 
1,655,017 
At 31 May 2022
130,304 
179,658 
147 
310,109 
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Fellpack Limited Notes to the Accounts for the year ended 31 May 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,451 
- 
Accrued income and prepayments
5,106 
7,896 
Other debtors
600 
2,722 
8,157 
10,618 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
18,824 
10,000 
VAT
84,088 
67,532 
Trade creditors
74,196 
55,202 
Taxes and social security
88,710 
35,059 
Other creditors
162,118 
179,556 
Loans from directors
22,825 
- 
Deferred income
16,951 
784 
467,712 
348,133 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
824,183 
29,500 
Other creditors
114,999 
114,999 
939,182 
144,499 
9
Transactions with related parties
At the reporting date the following amounts were owed to directors: Mr J C Butterfield £22,825 (2022 - £nil) and Mr C Gill £nil (2022 - £nil). A further amount of £61,625 (2022 - £nil) was owed to JX Consulting Limited, a company controlled by Mr Butterfield. These amounts are included within creditors and are unsecured, repayable on demand and accruing interest at 5% per annum. At the reporting date the following amounts were owed to shareholders: Mr P Sanchez £10,375 (2022 - £nil) and Mr J Appleton £10,375 (2022 - £nil). These amounts are included within creditors and are unsecured, repayable on demand and accruing interest at 5% per annum. At the reporting date the following amount was owed to shareholders: Mr T & Mrs P Parsons £114,999 (2022 - £114,999). A further £80,000 was payable to Think Design Deliver Limited, a company controlled by Mr T Parsons. These amounts are included in creditors and are unsecured, interest is payable at 5% and repayment is due within five years.
10
Average number of employees
During the year the average number of employees was 51 (2022: 47).
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