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Registration number: 10469634

Fife Family Ventures Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Fife Family Ventures Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Fife Family Ventures Limited

Company Information

Directors

J G Fife

C M Fife

Registered office

4 North Leigh Business Park
North Leigh
Witney
OX29 6SW

Accountants

ENF Solutions Limited
Chartered Certified Accountant
181A Middlewood Road
Sheffield
S6 4HD

 

Fife Family Ventures Limited

(Registration number: 10469634)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

347,144

347,144

Investments

6

145

145

Other financial assets

7

506,707

477,384

 

853,996

824,673

Current assets

 

Debtors

8

22,956

73,388

Cash at bank and in hand

 

8,763

22,897

 

31,719

96,285

Creditors: Amounts falling due within one year

9

(730,707)

(922,405)

Net current liabilities

 

(698,988)

(826,120)

Net assets/(liabilities)

 

155,008

(1,447)

Capital and reserves

 

Called up share capital

10

100

100

Other reserves

95,000

95,000

Retained earnings

59,908

(96,547)

Shareholders' funds/(deficit)

 

155,008

(1,447)

 

Fife Family Ventures Limited

(Registration number: 10469634)
Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 March 2025 and signed on its behalf by:
 

.........................................
J G Fife
Director

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 North Leigh Business Park
North Leigh
Witney
OX29 6SW

These financial statements were authorised for issue by the Board on 22 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Asset class

Depreciation method and rate

Office Equipment

33% straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

9,877

9,877

At 31 December 2024

9,877

9,877

Depreciation

At 1 January 2024

9,877

9,877

At 31 December 2024

9,877

9,877

Carrying amount

At 31 December 2024

-

-

5

Investment properties

2024
£

At 1 January

347,144

At 31 December

347,144

The investment property is valued in the accounts at fair value.

During the year end 31 December 2021 the investment property was subject to a professional independent valuation. This was undertaken by Marriots Oxford in accordance with the RICS Global Valuation standards 2017. The director considers that there has been no material change to this valuation in the current year.

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Investments

2024
£

2023
£

Investments in subsidiaries

145

145

Subsidiaries

£

Cost or valuation

At 1 January 2024

145

Provision

Carrying amount

At 31 December 2024

145

At 31 December 2023

145

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Tullamed Technologies Ltd

4 North Leigh Business Park
North Leigh
Witney
OX29 6SW

England and Wales

Ordinary shares

90%

100%

Tullamed Limited

Cappateemore West, Meelick, Clare, V94 Twh7, Ireland

Ireland

Ordinary shares

50%

50%

Subsidiary undertakings

Tullamed Technologies Ltd

The principal activity of Tullamed Technologies Ltd is manufacturing of medical, dental and other instruments and supplies.

Tullamed Limited

The principal activity of Tullamed Limited is manufacturing of medical, dental and other instruments and supplies.

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2024

477,384

477,384

Fair value adjustments

35,267

35,267

Additions

48,144

48,144

Disposals

(54,088)

(54,088)

At 31 December 2024

506,707

506,707

Impairment

Carrying amount

At 31 December 2024

506,707

506,707

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

11

22,279

73,388

Prepayments

 

586

-

Other debtors

 

91

-

   

22,956

73,388

 

Fife Family Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

4,560

3,105

Accruals and deferred income

720

119,820

Other creditors

725,427

799,480

730,707

922,405

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

11

Related party transactions

Summary of transactions with all subsidiaries

During the year the company made loans to its subsidiary Tullamed Technologies Ltd, at the year end £22,280 (2023 £73,388) was due to the company. Interest is charged on this loan at Bank of England rate plus 3% and there is no fixed date for repayment.