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REGISTERED NUMBER: 00314535 (England and Wales)









Unaudited Financial Statements

for the Year Ended

31 December 2023

for

T.F. Firth & Sons Limited

T.F. Firth & Sons Limited (Registered number: 00314535)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2

T.F. Firth & Sons Limited (Registered number: 00314535)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 3,547,546 3,547,546

CURRENT ASSETS
Debtors 5 10,216,024 10,216,024

CREDITORS
Amounts falling due within one year 6 11,270 11,270
NET CURRENT ASSETS 10,204,754 10,204,754
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,752,300

13,752,300

CAPITAL AND RESERVES
Called up share capital 7 10,349,262 10,349,262
Share premium 2,893,038 2,893,038
Retained earnings 510,000 510,000
SHAREHOLDERS' FUNDS 13,752,300 13,752,300

The company is entitled to exemption from audit under Section 480 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.

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 Profit and Loss Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





N W Stansfield - Director


T.F. Firth & Sons Limited (Registered number: 00314535)

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

1. STATUTORY INFORMATION

T.F. Firth & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00314535

Registered office: 10th Floor
The Colmore Building
20 Colmore Circus
Birmingham
West Midlands
B4 6AT

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

The company was dormant throughout the current year and previous year.

Preparation of consolidated financial statements
The financial statements contain information about T.F. Firth & Sons Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiaries are measured at cost less impairment.

Where the value of other investments can be reliably measured they are measured at fair value through the profit and loss account. Where fair value cannot be measured reliably other investments are measured at cost less impairment.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Intercompany balances and other creditors are classified as basic financial instruments and are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

T.F. Firth & Sons Limited (Registered number: 00314535)

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

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 3,547,546
NET BOOK VALUE
At 31 December 2023 3,547,546
At 31 December 2022 3,547,546

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 10,216,024 10,216,024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 11,163 11,163
Other creditors 107 107
11,270 11,270

T.F. Firth & Sons Limited (Registered number: 00314535)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9,397,048 Ordinary 25p 2,349,262 2,349,262
8,000,000 Preference £1 8,000,000 8,000,000
10,349,262 10,349,262

The preference shares are entitled to cumulative preferential dividends of 7% per annum. On winding up the cumulative preference shares are entitled to a 5% premium on repayment. The preference dividend was waived by the holder in the year.

8. ULTIMATE PARENT COMPANY

The director regards Interface Inc. a company incorporated in the United States of America, as the company's ultimate parent undertaking.

Interface, Inc. is the parent undertaking of the largest group of which TF Firth & Sons Limited is a
member. Copies of its consolidated financial statements are available from 1280 West Peachtree
Street, Atlanta, Georgia, 30309, USA.

The immediate parent undertaking is Interface Europe Ltd, a company incorporated in England and Wales.

Interface Europe Ltd is the parent undertaking of the smallest group of which TF Firth & Sons Limited
is a member and for which group accounts are drawn up. Copies of its consolidated financial
statements are available from Companies House.