2022-11-012023-10-312023-10-31false07041871THE CONFEDERACY 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THE CONFEDERACY LIMITED

Registered Number
07041871
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

THE CONFEDERACY LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

RYDER, Andrew James
RYDER, Sisi

Registered Address

The Phoenix Inn London Road
Hartley Wintney
Hook
RG27 8RT

Registered Number

07041871 (England and Wales)
THE CONFEDERACY LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets416,06819,548
16,06819,548
Current assets
Debtors553,88256,106
Cash at bank and on hand112,260
53,89358,366
Creditors amounts falling due within one year6(279,919)(260,783)
Net current assets (liabilities)(226,026)(202,417)
Total assets less current liabilities(209,958)(182,869)
Creditors amounts falling due after one year7(18,082)(25,083)
Provisions for liabilities8(3,053)(3,714)
Net assets(231,093)(211,666)
Capital and reserves
Called up share capital20,00020,000
Profit and loss account(251,093)(231,666)
Shareholders' funds(231,093)(211,666)
The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2024, and are signed on its behalf by:
RYDER, Andrew James
Director
Registered Company No. 07041871
THE CONFEDERACY LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The directors have identified material uncertainties related to the ability of the company to pay it's debts as they fall due. The material uncertainties stem from the Covid-19 pandemic and are exacerbated by the cost of living crisis, in particular, rising energy prices. These uncertainties cast significant doubt about the company's ability to continue as a going concern, however, the directors consider the going concern basis remains appropriate for the foreseeable future. For these purposes, the foreseeable future is limited to three months from the approval of these accounts whilst the directors continue to seek solutions including but not limited to seeking new or extended payment plans with it's major creditors. The directors have continued to support the company after the balance sheet date and are continuously reviewing their ability to continue doing so.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Fixtures and fittings25-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year3543
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 November 2230,95386,415117,368
Additions-1,6591,659
At 31 October 2330,95388,074119,027
Depreciation and impairment
At 01 November 2230,95366,86797,820
Charge for year-5,1395,139
At 31 October 2330,95372,006102,959
Net book value
At 31 October 23-16,06816,068
At 31 October 22-19,54819,548
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables25,54227,517
Other debtors17,33617,830
Prepayments and accrued income11,00410,759
Total53,88256,106
Included in the Debtors figure is an amount owed by Peter Shea of £17,336, Peter was a director of the company until July 2022.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables96,336113,133
Bank borrowings and overdrafts7,3193,103
Taxation and social security121,20469,555
Other creditors50,05974,992
Accrued liabilities and deferred income5,001-
Total279,919260,783
Included within creditors are loans from the current directors (Andrew Ryder and Sisi Ryder) to the company, totalling £46,462. These loans are unsecured, interest free and repayable upon demand.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts18,08225,083
Total18,08225,083
During the year ended 31st October 2020, the company entered into a Bounce Back Loan of £35,000 at an interest rate of 2.5% from year 2. Repayments commenced in June 2021.
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,0533,714
Total3,0533,714
9.Contingent liabilities
Mr Peter Shea and Mr Adam Wilson (both former Shareholders) hold a floating charge over the assets of the company in respect of the Share Purchase Agreement dated 7th July 2022 under which the holdings of Mr Shea and Mr Wilson were sold to Mr Andrew Ryder and Mrs Sisi Ryder (current Directors and Shareholders) for a total of £108,600.