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REGISTERED NUMBER: 06619680















REPORT OF THE DIRECTOR AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

FURZEWOOD LIMITED

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Report of the Director 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 8


FURZEWOOD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: N J Askew





REGISTERED OFFICE: 5 The Quadrant
Coventry
CV1 2EL





REGISTERED NUMBER: 06619680





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 JUNE 2024


The director presents his report with the financial statements of the company and the group for the year ended 30 June 2024.

DIRECTOR
N J Askew held office during the whole of the period from 1 July 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





N J Askew - Director


26 March 2025

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £    £    £   

TURNOVER 2,853,468 2,537,547

Cost of sales 728,696 798,367
GROSS PROFIT 2,124,772 1,739,180

Administrative expenses 1,755,264 1,494,562
OPERATING PROFIT 4 369,508 244,618

Income from interest in associated
undertakings

5

82,971

(2,504

)
Interest receivable and similar income 900 315
83,871 (2,189 )
453,379 242,429

Interest payable and similar expenses 41,698 44,348
PROFIT BEFORE TAXATION 411,681 198,081

Tax on profit 95,912 48,101
PROFIT FOR THE FINANCIAL YEAR 315,769 149,980

Profit attributable to:
Owners of the parent 315,769 149,980

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

CONSOLIDATED BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 18,475 17,078
Investments 9
Interest in associate 355,427 272,456
Other investments 380,137 801,325
754,039 1,090,859

CURRENT ASSETS
Debtors 10 1,645,918 1,385,806
Cash at bank and in hand 1,884 161
1,647,802 1,385,967
CREDITORS
Amounts falling due within one year 12 1,869,740 1,965,829
NET CURRENT LIABILITIES (221,938 ) (579,862 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

532,101

510,997

CREDITORS
Amounts falling due after more than one
year

13

-

211,207
NET ASSETS 532,101 299,790

CAPITAL AND RESERVES
Called up share capital 11,300 11,300
Retained earnings 520,801 288,490
532,101 299,790

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

CONSOLIDATED BALANCE SHEET - continued
30 JUNE 2024


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

The financial statements were approved by the director and authorised for issue on 26 March 2025 and were signed by:





N J Askew - Director


FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

COMPANY BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 18,475 17,078
Investments 9 - -
18,475 17,078

CURRENT ASSETS
Debtors 10 1,225,871 1,111,302
Investments 11 339,960 339,960
Cash in hand (20 ) 111
1,565,811 1,451,373
CREDITORS
Amounts falling due within one year 12 1,314,821 954,988
NET CURRENT ASSETS 250,990 496,385
TOTAL ASSETS LESS CURRENT
LIABILITIES

269,465

513,463

CREDITORS
Amounts falling due after more than one
year

13

60,000

211,207
NET ASSETS 209,465 302,256

CAPITAL AND RESERVES
Called up share capital 11,300 11,300
Retained earnings 198,165 290,956
209,465 302,256

Company's (loss)/profit for the financial year (9,331 ) 157,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

COMPANY BALANCE SHEET - continued
30 JUNE 2024


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

The financial statements were approved by the director and authorised for issue on 6 March 2025 and were signed by:





N J Askew - Director


FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Furzewood Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the General 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% Straight line
Computer equipment - 33% per annum of cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 38 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 9,461 8,327
Goodwill amortisation - 34,834

5. INCOME FROM INTEREST IN ASSOCIATED UNDERTAKINGS
2024 2023
£    £   
Interest in associate undertakings 82,971 (2,504 )

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 344,355
AMORTISATION
At 1 July 2023
and 30 June 2024 344,355
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Company
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 344,355
AMORTISATION
At 1 July 2023
and 30 June 2024 344,355
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. TANGIBLE FIXED ASSETS

Group
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 22,349 79,338 101,687
Additions - 10,858 10,858
At 30 June 2024 22,349 90,196 112,545
DEPRECIATION
At 1 July 2023 11,714 72,895 84,609
Charge for year 3,573 5,888 9,461
At 30 June 2024 15,287 78,783 94,070
NET BOOK VALUE
At 30 June 2024 7,062 11,413 18,475
At 30 June 2023 10,635 6,443 17,078

Company
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 22,349 79,338 101,687
Additions - 10,858 10,858
At 30 June 2024 22,349 90,196 112,545
DEPRECIATION
At 1 July 2023 11,714 72,895 84,609
Charge for year 3,573 5,888 9,461
At 30 June 2024 15,287 78,783 94,070
NET BOOK VALUE
At 30 June 2024 7,062 11,413 18,475
At 30 June 2023 10,635 6,443 17,078

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. FIXED ASSET INVESTMENTS

Group
2024 2023
£    £   
Participating interests 355,427 272,456
Other investments not loans 16,610 250,000
Other loans 363,527 551,325
735,564 1,073,781

Additional information is as follows:

Group
Interest
in Other
associate investments Totals
£    £    £   
COST
At 1 July 2023 272,456 250,000 522,456
Additions - 16,610 16,610
Disposals - (250,000 ) (250,000 )
Share of profit/(loss) 82,971 - 82,971
At 30 June 2024 355,427 16,610 372,037
NET BOOK VALUE
At 30 June 2024 355,427 16,610 372,037
At 30 June 2023 272,456 250,000 522,456

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. FIXED ASSET INVESTMENTS - continued

Group

Interest in associate

Flint & Thompson Limited
The group's share of Flint & Thompson Limited is as follows:

2024 2023
£    £   
Turnover 328,035 297,716

Profit before tax 118,346 2,606
Taxation (35,375 ) (5,110 )
Profit/(loss) after tax 82,971 (2,504 )

Share of assets
Fixed assets 150,239 173,395
Current assets 149,845 102,042

Share of liabilities
Liabilities due within one year (246,802 ) (212,678 )
Liabilities due after one year or more (97 ) (92,544 )


Share of net assets/(liabilities) 53,185 (29,785 )

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

QP Coventry Ltd
Registered office: England and Wales
Nature of business: Consultancy
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 242,006 140
Profit for the year 241,866 97,765

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. FIXED ASSET INVESTMENTS - continued


Askews Risk Management Limited
Registered office: England & Wales
Nature of business: Consultancy
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 65,003 65,000
Profit for the year 37,868 53,573

Group
Other
loans
£   
At 1 July 2023 551,325
New in year 250,807
Repayment in year (438,605 )
At 30 June 2024 363,527


10. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 646,537 608,520 646,537 608,520
Amounts owed by group undertakings - - - 35,745
Other debtors 999,381 636,322 579,334 467,037
1,645,918 1,244,842 1,225,871 1,111,302

Amounts falling due after more than one year:
Other debtors - 140,964 - -

Aggregate amounts 1,645,918 1,385,806 1,225,871 1,111,302

11. CURRENT ASSET INVESTMENTS

Company
2024 2023
£    £   
Shares in group undertakings 339,960 339,960

FURZEWOOD LIMITED (REGISTERED NUMBER: 06619680)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts 965,705 1,239,619 326,213 326,940
Trade creditors 115,914 105,821 115,914 105,820
Amounts owed to group undertakings - - 134,759 -
Taxation and social security 749,605 466,391 586,893 368,230
Other creditors 38,516 153,998 151,042 153,998
1,869,740 1,965,829 1,314,821 954,988

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans - 211,207 60,000 211,207