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REGISTERED NUMBER: 04855440 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Bifold Network Limited

Bifold Network Limited (Registered number: 04855440)






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


Bifold Network Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: A Ensor





REGISTERED OFFICE: Bamburgh House
Cuthbert Bank Road
Sheffield
South Yorkshire
S6 2HP





REGISTERED NUMBER: 04855440 (England and Wales)

Bifold Network Limited (Registered number: 04855440)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 206,150 174,268
206,150 174,268

CURRENT ASSETS
Stocks 110,632 114,222
Debtors 6 160,418 133,070
Cash at bank 931,199 970,303
1,202,249 1,217,595
CREDITORS
Amounts falling due within one year 7 644,369 591,296
NET CURRENT ASSETS 557,880 626,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

764,030

800,567

CREDITORS
Amounts falling due after more than one year 8 (12,145 ) (23,688 )

PROVISIONS FOR LIABILITIES (28,901 ) (28,901 )
NET ASSETS 722,984 747,978

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 722,982 747,976
SHAREHOLDERS' FUNDS 722,984 747,978

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 director acknowledges his 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.

Bifold Network Limited (Registered number: 04855440)

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 director and authorised for issue on 27 August 2024 and were signed by:





A Ensor - Director


Bifold Network Limited (Registered number: 04855440)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bifold Network 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 124,215
AMORTISATION
At 1 January 2023
and 31 December 2023 124,215
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Bifold Network Limited (Registered number: 04855440)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 490,818
Additions 88,889
At 31 December 2023 579,707
DEPRECIATION
At 1 January 2023 316,550
Charge for year 57,007
At 31 December 2023 373,557
NET BOOK VALUE
At 31 December 2023 206,150
At 31 December 2022 174,268

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 146,571 125,303
Other debtors 13,847 7,767
160,418 133,070

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 16,192 25,840
Trade creditors 322,928 361,126
Amounts owed to group undertakings 83,531 14,062
Taxation and social security 73,651 102,682
Other creditors 148,067 87,586
644,369 591,296

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 12,145 23,688