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REGISTERED NUMBER: 02205316 (England and Wales)















FIFIELD GLYN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIFIELD GLYN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R N D Smith
E G Fifield





SECRETARY: C G Fifield





REGISTERED OFFICE: 1 Royal Mews
Gadbrook Park
Northwich
Cheshire
CW9 7UD





REGISTERED NUMBER: 02205316 (England and Wales)





ACCOUNTANTS: Murray Smith LLP
Chartered Accountants
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 302,875 336,139
Tangible assets 5 18,851 41,403
321,726 377,542

CURRENT ASSETS
Debtors 6 203,378 216,034
Cash at bank 51,391 450
254,769 216,484
CREDITORS
Amounts falling due within one year 7 305,589 304,890
NET CURRENT LIABILITIES (50,820 ) (88,406 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,906

289,136

CREDITORS
Amounts falling due after more than one year 8 (17,709 ) (58,110 )

PROVISIONS FOR LIABILITIES (4,713 ) (10,351 )
NET ASSETS 248,484 220,675

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 248,384 220,575
SHAREHOLDERS' FUNDS 248,484 220,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:





R N D Smith - Director


FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Fifield Glyn Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2011, 2013 and 2017 is being amortised evenly over its estimated useful life of 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset overs its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings - 10% on cost
Motor vehicles - Straight line over 5 years
Computer equipment - At varying rates on cost

FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
FINANCIAL ASSETS
Trade, group and other debtors
Trade, group and other debtors (including accrued income) which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

A provision for impairment of trade debtors is established where there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

FINANCIAL LIABILITIES
Trade, group and other creditors
Trade, group and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled.

DERECOGNITION OF FINANCIAL ASSETS AND LIABILITIES
A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on the present value basis.

Government grants
Grants are included in the profit and loss account on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of the reporting period, and are discounted to present value where the effect is material.

Employee benefits
(a) Wages and salaries and annual leave
Liabilities for wages and salaries and annual leave are recognised and are measured as the amount unpaid at the reporting date at current pay rates in respect of employees' services up to that date. They are expected to be settled within one year.

(b) Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and the post-retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 26 ) .

FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 665,278
AMORTISATION
At 1 January 2023 329,139
Amortisation for year 33,264
At 31 December 2023 362,403
NET BOOK VALUE
At 31 December 2023 302,875
At 31 December 2022 336,139

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 163,868 27,495 224,918 416,281
Additions - - 800 800
At 31 December 2023 163,868 27,495 225,718 417,081
DEPRECIATION
At 1 January 2023 144,546 27,495 202,837 374,878
Charge for year 8,429 - 14,923 23,352
At 31 December 2023 152,975 27,495 217,760 398,230
NET BOOK VALUE
At 31 December 2023 10,893 - 7,958 18,851
At 31 December 2022 19,322 - 22,081 41,403


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 127,558 118,109
Other debtors 3,900 23,256
Directors' current accounts 971 -
Prepayments and accrued income 70,949 74,669
203,378 216,034

FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,000 48,219
Trade creditors 75,663 99,795
Corporation tax 80,970 66,161
Social security and other taxes 18,538 13,426
VAT 59,609 53,947
Other creditors 11,010 10,026
Directors' current accounts - 613
Accruals and deferred income 19,799 12,703
305,589 304,890

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 12,797 40,000
Bank loans - 2-5 years 4,912 18,110
17,709 58,110

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 46,000 51,600
Between one and five years 168,400 184,000
In more than five years 106,400 136,800
320,800 372,400

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 8,219
Bank loans 57,709 98,110
57,709 106,329

The bank loan and overdraft are secured by a fixed and floating charge over all current and future assets of the company, which is held by the company's bankers. In addition the bank loan and overdraft are also secured by personal guarantees from the directors. The bank loan will be repaid in December 2024 and June 2026.

FIFIELD GLYN LIMITED (REGISTERED NUMBER: 02205316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 - 100
20 Ordinary A £1 20 -
20 Ordinary B £1 20 -
60 Ordinary C £1 60 -
100 100