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2023-08-01
Sage Accounts Production Advanced 2023 - FRS102_2023
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01934207
2023-08-01
2024-07-31
01934207
2024-07-31
01934207
2023-07-31
01934207
2022-08-01
2023-07-31
01934207
2023-07-31
01934207
2022-07-31
01934207
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2024-07-31
01934207
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2024-07-31
01934207
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01934207
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2023-07-31
01934207
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01934207
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01934207
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2024-07-31
01934207
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2024-07-31
01934207
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2023-08-01
2024-07-31
01934207
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2023-08-01
2024-07-31
01934207
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2024-07-31
01934207
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2023-07-31
01934207
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2024-07-31
01934207
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2023-07-31
01934207
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2024-07-31
01934207
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2023-07-31
01934207
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2024-07-31
01934207
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2023-07-31
01934207
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2023-07-31
01934207
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2023-07-31
01934207
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2023-07-31
01934207
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2023-08-01
2024-07-31
01934207
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2024-07-31
01934207
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2024-07-31
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2023-08-01
2024-07-31
01934207
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2023-08-01
2024-07-31
01934207
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2023-07-31
01934207
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2023-08-01
2024-07-31
01934207
core:OfficeEquipment
2024-07-31
COMPANY REGISTRATION NUMBER:
01934207
Fenner Paper Company Limited |
|
Filleted Unaudited Financial Statements |
|
Fenner Paper Company Limited |
|
Year ended 31 July 2024
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Notes to the financial statements |
4 to 8 |
|
|
Fenner Paper Company Limited |
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Fenner Paper Company Limited |
|
Year ended 31 July 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 July 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
PORTER GARLAND
Chartered Accountants
Communication House
Victoria Avenue
Camberley
Surrey
GU15 3HX
25 April 2025
Fenner Paper Company Limited |
|
Statement of Financial Position |
|
31 July 2024
Fixed assets
Tangible assets |
5 |
|
1,433,889 |
|
1,375,941 |
|
|
|
|
|
|
Current assets
Stocks |
1,246,578 |
|
1,395,511 |
|
Debtors |
6 |
1,987,883 |
|
667,875 |
|
Investments |
7 |
73,238 |
|
73,238 |
|
Cash at bank and in hand |
1,264,407 |
|
1,356,061 |
|
|
------------ |
|
------------ |
|
|
4,572,106 |
|
3,492,685 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
1,213,939 |
|
923,450 |
|
|
------------ |
|
------------ |
|
Net current assets |
|
3,358,167 |
|
2,569,235 |
|
|
------------ |
|
------------ |
Total assets less current liabilities |
|
4,792,056 |
|
3,945,176 |
|
|
|
|
|
|
Provisions |
|
28,890 |
|
12,019 |
|
|
------------ |
|
------------ |
Net assets |
|
4,763,166 |
|
3,933,157 |
|
|
------------ |
|
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
2,200 |
|
2,200 |
Capital redemption reserve |
|
1,800 |
|
1,800 |
Profit and loss account |
|
4,759,166 |
|
3,929,157 |
|
|
------------ |
|
------------ |
Shareholders funds |
|
4,763,166 |
|
3,933,157 |
|
|
------------ |
|
------------ |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Fenner Paper Company Limited |
|
Statement of Financial Position (continued) |
|
31 July 2024
These financial statements were approved by the
Managing Director and majority shareholder
and authorised for issue on
25 April 2025
, and are signed on their behalf by:
Company registration number:
01934207
Fenner Paper Company Limited |
|
Notes to the Financial Statements |
|
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Orchard Business Centre, Sanderson Way, Tonbridge, Kent, TN9 1QF.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have also been prepared in accordance with applicable accounting standards.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the profit and loss account. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss account. Fixed asset investments are included at cost less amounts written off. Profits or losses arising from the disposals of fixed asset investments are treated as part of the result from ordinary activities.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Revenue recognition
Turnover comprises the value of sales (net of VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Turnover is recognised by reference to the invoice date as this is the point at which the risks and rewards pass to the customer.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & machinery |
- |
20% per annum on a straight line basis |
|
Motor vehicles |
- |
20% per annum on a straight line basis |
|
Equipment |
- |
20% per annum on a straight line basis |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
15
(2023:
14
).
5.
Tangible assets
|
Freehold property |
Plant and machinery |
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
|
At 1 August 2023 |
1,274,909 |
292,588 |
105,234 |
114,445 |
1,787,176 |
Additions |
– |
101,396 |
– |
7,929 |
109,325 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
At 31 July 2024 |
1,274,909 |
393,984 |
105,234 |
122,374 |
1,896,501 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
Depreciation |
|
|
|
|
|
At 1 August 2023 |
– |
265,499 |
32,987 |
112,749 |
411,235 |
Charge for the year |
– |
28,231 |
21,047 |
2,099 |
51,377 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
At 31 July 2024 |
– |
293,730 |
54,034 |
114,848 |
462,612 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
Carrying amount |
|
|
|
|
|
At 31 July 2024 |
1,274,909 |
100,254 |
51,200 |
7,526 |
1,433,889 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
At 31 July 2023 |
1,274,909 |
27,089 |
72,247 |
1,696 |
1,375,941 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
|
|
|
|
|
|
The company's policy is to review the fair value of freehold property at least every five years. No such review has been deemed necessary by the directors for the year ended 31 July 2024.
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
581,940 |
644,584 |
Other debtors |
1,405,943 |
23,291 |
|
------------ |
--------- |
|
1,987,883 |
667,875 |
|
------------ |
--------- |
|
|
|
7.
Investments
|
2024 |
2023 |
|
£ |
£ |
Other investments |
73,238 |
73,238 |
|
-------- |
-------- |
|
|
|
Current asset investments comprise land and property.
The property has been valued at the balance sheet date by the directors at fair value. The directors have relied upon advice from property professionals when preparing their valuation.
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
257,406 |
262,366 |
Social security and other taxes |
858,655 |
556,523 |
Other creditors |
97,878 |
104,561 |
|
------------ |
--------- |
|
1,213,939 |
923,450 |
|
------------ |
--------- |
|
|
|
9.
Other financial commitments
Total amount of commitments, guarantees and contingencies is £
76,000
.
10.
Directors' advances, credits and guarantees
At the balance sheet date, the company was owed £1,000,263 (2023: nil) by the directors of the company. The directors repaid £101,618 within 9 months of the year end.