IRIS Accounts Production v25.1.4.42 14287709 director 1.9.23 31.8.24 31.8.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh142877092023-08-31142877092024-08-31142877092023-09-012024-08-31142877092022-08-09142877092022-08-102023-08-31142877092023-08-3114287709ns15:EnglandWales2023-09-012024-08-3114287709ns14:PoundSterling2023-09-012024-08-3114287709ns10:Director12023-09-012024-08-3114287709ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3114287709ns10:SmallEntities2023-09-012024-08-3114287709ns10:AuditExemptWithAccountantsReport2023-09-012024-08-3114287709ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3114287709ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3114287709ns10:FullAccounts2023-09-012024-08-311428770912023-09-012024-08-3114287709ns10:RegisteredOffice2023-09-012024-08-3114287709ns5:CurrentFinancialInstruments2024-08-3114287709ns5:CurrentFinancialInstruments2023-08-3114287709ns5:Non-currentFinancialInstruments2024-08-3114287709ns5:Non-currentFinancialInstruments2023-08-3114287709ns5:ShareCapital2024-08-3114287709ns5:ShareCapital2023-08-3114287709ns5:RetainedEarningsAccumulatedLosses2024-08-3114287709ns5:RetainedEarningsAccumulatedLosses2023-08-3114287709ns5:NetGoodwill2023-09-012024-08-3114287709ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3114287709ns5:PlantMachinery2023-09-012024-08-3114287709ns5:FurnitureFittings2023-09-012024-08-3114287709ns5:MotorVehicles2023-09-012024-08-3114287709ns5:ComputerEquipment2023-09-012024-08-3114287709ns5:NetGoodwill2023-08-3114287709ns5:NetGoodwill2024-08-3114287709ns5:NetGoodwill2023-08-3114287709ns5:PlantMachinery2023-08-3114287709ns5:FurnitureFittings2023-08-3114287709ns5:MotorVehicles2023-08-3114287709ns5:ComputerEquipment2023-08-3114287709ns5:PlantMachinery2024-08-3114287709ns5:FurnitureFittings2024-08-3114287709ns5:MotorVehicles2024-08-3114287709ns5:ComputerEquipment2024-08-3114287709ns5:PlantMachinery2023-08-3114287709ns5:FurnitureFittings2023-08-3114287709ns5:MotorVehicles2023-08-3114287709ns5:ComputerEquipment2023-08-3114287709ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-09-012024-08-3114287709ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-09-012024-08-3114287709ns5:LeasedAssetsHeldAsLessee2023-09-012024-08-3114287709ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2024-08-3114287709ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-08-3114287709ns5:LeasedAssetsHeldAsLessee2024-08-3114287709ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3114287709ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31
REGISTERED NUMBER: 14287709 (England and Wales)














Unaudited Financial Statements for the Year Ended 31 August 2024

for

Folk Suffolk Ltd

Folk Suffolk Ltd (Registered number: 14287709)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Folk Suffolk Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Miss A G H Barker





REGISTERED OFFICE: Unit 11 Fornham Business Court The Drift
Fornham St. Martin
Bury St. Edmunds
IP31 1SL





REGISTERED NUMBER: 14287709 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Folk Suffolk Ltd (Registered number: 14287709)

Statement of Financial Position
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,800 5,400
Tangible assets 5 242,589 154,760
247,389 160,160

CURRENT ASSETS
Stocks 10,249 10,015
Debtors 6 25,585 11,067
Cash at bank and in hand 16,125 6,827
51,959 27,909
CREDITORS
Amounts falling due within one year 7 359,756 188,002
NET CURRENT LIABILITIES (307,797 ) (160,093 )
TOTAL ASSETS LESS CURRENT LIABILITIES (60,408 ) 67

CREDITORS
Amounts falling due after more than one year 8 83,505 8,218
NET LIABILITIES (143,913 ) (8,151 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (144,013 ) (8,251 )
(143,913 ) (8,151 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Folk Suffolk Ltd (Registered number: 14287709)

Statement of Financial Position - continued
31 August 2024


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 26 August 2025 and were signed by:





Miss A G H Barker - Director


Folk Suffolk Ltd (Registered number: 14287709)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Folk Suffolk 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Folk Suffolk Ltd (Registered number: 14287709)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The financial statements have been prepared on the going concern basis. The director is of the opinion that the shareholders will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 6,000
AMORTISATION
At 1 September 2023 600
Charge for year 600
At 31 August 2024 1,200
NET BOOK VALUE
At 31 August 2024 4,800
At 31 August 2023 5,400

Folk Suffolk Ltd (Registered number: 14287709)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 53,799 120,869 - 8,389 183,057
Additions - 66,532 73,390 3,341 143,263
At 31 August 2024 53,799 187,401 73,390 11,730 326,320
DEPRECIATION
At 1 September 2023 8,070 18,130 - 2,097 28,297
Charge for year 6,859 27,819 18,348 2,408 55,434
At 31 August 2024 14,929 45,949 18,348 4,505 83,731
NET BOOK VALUE
At 31 August 2024 38,870 141,452 55,042 7,225 242,589
At 31 August 2023 45,729 102,739 - 6,292 154,760

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
Additions 54,055 73,390 127,445
Reclassification/transfer 24,000 - 24,000
At 31 August 2024 78,055 73,390 151,445
DEPRECIATION
Charge for year 10,536 18,348 28,884
Reclassification/transfer 3,600 - 3,600
At 31 August 2024 14,136 18,348 32,484
NET BOOK VALUE
At 31 August 2024 63,919 55,042 118,961

Folk Suffolk Ltd (Registered number: 14287709)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 6,226 2,491
Deposits 3,000 2,831
VAT - 4,526
Prepayments 16,359 1,219
25,585 11,067

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 47,745 48,134
Hire purchase contracts 31,241 9,397
Trade creditors 74,843 86,979
Gift Cards 465 35
Social security and other taxes 9,723 1,443
Pension Payable 3,597 394
VAT 59,565 -
Directors' current accounts 91,600 38,489
Accruals and deferred income 40,977 3,131
359,756 188,002

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 83,505 8,218

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Folk Suffolk Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Folk Suffolk Ltd for the year ended 31 August 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Folk Suffolk Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Folk Suffolk Ltd and state those matters that we have agreed to state to the director of Folk Suffolk Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Folk Suffolk Ltd and its director for our work or for this report.

It is your duty to ensure that Folk Suffolk Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Folk Suffolk Ltd. You consider that Folk Suffolk Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Folk Suffolk Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY


26 August 2025