Registered number
08277304
Fordhams & Co Limited
Unaudited Filleted Accounts
30 April 2023
Fordhams & Co Limited
Registered number: 08277304
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 542,919 589,846
Tangible assets 4 44,496 11,390
587,415 601,236
Current assets
Debtors 5 229,916 244,906
Cash at bank and in hand 100,954 141,420
330,870 386,326
Creditors: amounts falling due within one year 6 (198,764) (313,271)
Net current assets 132,106 73,055
Total assets less current liabilities 719,521 674,291
Creditors: amounts falling due after more than one year 7 (89,166) (131,833)
Net assets 630,355 542,458
Capital and reserves
Called up share capital 3 3
Profit and loss account 630,352 542,455
Shareholders' funds 630,355 542,458
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Seechurn
Director
Approved by the board on 19 January 2024
Fordhams & Co Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2022 703,893
At 30 April 2023 703,893
Amortisation
At 1 May 2022 114,047
Provided during the year 46,927
At 30 April 2023 160,974
Net book value
At 30 April 2023 542,919
At 30 April 2022 589,846
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2022 - 22,061 22,061
Additions 38,500 1,487 39,987
At 30 April 2023 38,500 23,548 62,048
Depreciation
At 1 May 2022 - 10,671 10,671
Charge for the year 3,850 3,031 6,881
At 30 April 2023 3,850 13,702 17,552
Net book value
At 30 April 2023 34,650 9,846 44,496
At 30 April 2022 - 11,390 11,390
5 Debtors 2023 2022
£ £
Trade debtors 194,833 228,946
Other debtors 35,083 15,960
229,916 244,906
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 42,000 42,000
Trade creditors 21,109 28,265
Taxation and social security costs 115,941 146,813
Other creditors 19,714 96,193
198,764 313,271
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 89,166 131,833
8 Other information
Fordhams & Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
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