REGISTERED NUMBER: 09097963 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

THEFOLKGROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss S M Flaherty

REGISTERED OFFICE:

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 0LT

REGISTERED NUMBER:

09097963 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 0LT

FIXED ASSETS

Tangible assets

4

39,840

48,833

CURRENT ASSETS

Debtors

5

70,636

108,404

Cash at bank and in hand

402,748

452,453

473,384

560,857

CREDITORS

Amounts falling due within one year

6

(149,562

)

(183,796

)

NET CURRENT ASSETS

323,822

377,061

TOTAL ASSETS LESS CURRENT LIABILITIES

363,662

425,894

CREDITORS

Amounts falling due after more than one year

7

(6,667

)

(16,667

)

PROVISIONS FOR LIABILITIES

8

(9,960

)

(12,208

)

NET ASSETS

347,035

397,019

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

346,935

396,919

SHAREHOLDERS' FUNDS

347,035

397,019

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

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

The director acknowledges her 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 June 2025 and were signed by:

Miss S M Flaherty - Director

1.	STATUTORY INFORMATION

Thefolkgroup Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company'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 14 (2023 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment,

furniture

& fixtures

£

COST

At 1 October 2023

80,073

Additions

3,677

At 30 September 2024

83,750

DEPRECIATION

At 1 October 2023

31,240

Charge for year

12,670

At 30 September 2024

43,910

NET BOOK VALUE

At 30 September 2024

39,840

At 30 September 2023

48,833

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

62,369

106,291

Prepayments

8,267

2,113

70,636

108,404

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

22,680

24,770

Tax

9,774

23,977

Social security and other taxes

79,779

93,262

Other creditors

7,225

4,012

Accrued expenses

20,104

27,775

149,562

183,796

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

6,667

10,000

Bank loans - 2-5 years

-

6,667

6,667

16,667

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

9,960

12,208

Deferred

tax

£

Balance at 1 October 2023

12,208

Credit to Income Statement during year

(2,248

)

Balance at 30 September 2024

9,960

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Retained

earnings

£

At 1 October 2023

396,919

Profit for the year

34,516

Dividends

(84,500

)

At 30 September 2024

346,935

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Miss S M Flaherty.

12.	TRANSACTIONS WITH DIRECTOR

Included within creditors is an amount owed to Miss S Flaherty. As at 30 September 2024 the amount owed was £64 (2023 - £409). This amount is interest free and repayable upon demand.