Fiddes & Son Limited

Audited Financial Statements for the Year Ended 31 December 2024

DIRECTORS:

R A F Gooding

V Gooding

SECRETARY:

E M Gooding

REGISTERED OFFICE:

Florence Works

Brindley Road

Cardiff

CF11 8TX

REGISTERED NUMBER:

01864772 (England and Wales)

AUDITORS:

BPU Limited

Chartered Accountants

Statutory Auditor

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

SOLICITORS:

Capital Law

1 Caspian Way

Cardiff

CF10 4DQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

332,005

416,146

332,005

416,146

CURRENT ASSETS

Stocks

999,605

1,033,339

Debtors

6

1,942,388

1,322,506

Cash at bank and in hand

3,302,423

3,338,235

6,244,416

5,694,080

CREDITORS

Amounts falling due within one year

7

928,044

614,441

NET CURRENT ASSETS

5,316,372

5,079,639

TOTAL ASSETS LESS CURRENT LIABILITIES

5,648,377

5,495,785

PROVISIONS FOR LIABILITIES

8

30,000

54,000

NET ASSETS

5,618,377

5,441,785

CAPITAL AND RESERVES

Called up share capital

149,081

149,081

Retained earnings

5,469,296

5,292,704

SHAREHOLDERS' FUNDS

5,618,377

5,441,785

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

R A F Gooding - Director

1.	STATUTORY INFORMATION

Fiddes & Son Limited 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 represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

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.

Short leasehold

-

25% reducing balance

Plant and machinery

-

25% reducing balance and 20% reducing balance

Motor vehicles

-

25% 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 Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs

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.

Employee benefit trust

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the Company does not include the assets and liabilities of the Employee Benefit Trust on its balance sheet to the extent that it considers that it will not retain any future economic benefit from the assets of the scheme and will not have control of the rights or other access to those future economic benefits

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

200,000

AMORTISATION

At 1 January 2024

and 31 December 2024

200,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

6,680

924,127

330,343

1,261,150

Additions

-

33,815

-

33,815

Disposals

-

(1,741

)

(56,539

)

(58,280

)

At 31 December 2024

6,680

956,201

273,804

1,236,685

DEPRECIATION

At 1 January 2024

4,992

678,883

161,129

845,004

Charge for year

422

52,341

38,803

91,566

Eliminated on disposal

-

(509

)

(31,381

)

(31,890

)

At 31 December 2024

5,414

730,715

168,551

904,680

NET BOOK VALUE

At 31 December 2024

1,266

225,486

105,253

332,005

At 31 December 2023

1,688

245,244

169,214

416,146

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,265,353

705,526

Other debtors & prepayments

677,035

616,980

1,942,388

1,322,506

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

197,050

185,159

Amounts owed to group undertakings

335,185

156,053

Taxes & social security costs

297,378

230,595

Other creditors & accruals

98,431

42,634

928,044

614,441

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

30,000

54,000

Deferred

tax

£

Balance at 1 January 2024

54,000

Credit to Profit and Loss Account during year

(24,000

)

Balance at 31 December 2024

30,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Huw Palin BA FCA (Senior Statutory Auditor)

for and on behalf of BPU Limited

10.	OTHER FINANCIAL COMMITMENTS

The company has total financial commitments in respect of operating leases of £51,456 (2023 - £0).

11.	ULTIMATE PARENT COMPANY

The ultimate parent company is Fiddes Holdings Limited, a company incorporated in England and Wales.

Copies of the accounts of the ultimate parent company are publicly available and can be obtained from Florence Works, Brindley Road, Cardiff, CF11 8TX

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R A F Gooding.