REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
31 December 2023 |
for |
T.F. Firth & Sons Limited |
REGISTERED NUMBER: |
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 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
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 |
Registered number: |
Registered office: |
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 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
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: | £ | £ |
Ordinary | 25p | 2,349,262 | 2,349,262 |
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. |
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. |
is a member and for which group accounts are drawn up. Copies of its consolidated financial statements are available from Companies House. |