Fairfield Labels Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01631537 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Fairfield Labels Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M H Lynch

Mrs C L Lynch

SECRETARY:

M H Lynch

REGISTERED OFFICE:

Lovett Road

Hampton Lovett Industrial Estate

Droitwich

Worcestershire

WR9 0QG

REGISTERED NUMBER:

01631537 (England and Wales)

ACCOUNTANTS:

Locke Williams Associates LLP

Chartered Accountants

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

43,962

41,198

43,962

41,198

CURRENT ASSETS

Stocks

731,030

710,960

Debtors

6

275,765

349,653

Cash at bank and in hand

24

209

1,006,819

1,060,822

CREDITORS

Amounts falling due within one year

7

876,954

897,738

NET CURRENT ASSETS

129,865

163,084

TOTAL ASSETS LESS CURRENT
LIABILITIES

173,827

204,282

CREDITORS

Amounts falling due after more than one
year

8

-

(58,333

)

PROVISIONS FOR LIABILITIES

(7,820

)

-

NET ASSETS

166,007

145,949

CAPITAL AND RESERVES

Called up share capital

10

2,530

Retained earnings

11

163,477

143,419

SHAREHOLDERS' FUNDS

166,007

145,949

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by:

M H Lynch - Director

1.	STATUTORY INFORMATION

Fairfield Labels 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The accounts are prepared on a going concern basis, which relies upon the availability of sufficient bank facilities for the company to continue to trade and also the support of third party creditors with the provision of on-going credit facilities.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised on despatch. Turnover from the supply of services is recognised in accordance with the performance of the service. Where invoicing is in advance or arrears, this is accounted for as deferred or accrued income in other creditors and other debtors.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2006 and 2007, 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.

Land and buildings

-

Over the period of the lease

Plant and machinery etc

-

25% on cost, 20% on cost, 12.5% on cost and 10% on cost

Stocks

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

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 11 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

24,259

AMORTISATION

At 1 April 2024

and 31 March 2025

24,259

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

13,380

595,318

608,698

Additions

-

10,919

At 31 March 2025

13,380

606,237

619,617

DEPRECIATION

At 1 April 2024

13,380

554,120

567,500

Charge for year

-

8,155

At 31 March 2025

13,380

562,275

575,655

NET BOOK VALUE

At 31 March 2025

-

43,962

At 31 March 2024

-

41,198

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

275,765

345,153

Other debtors

-

4,500

275,765

349,653

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

130,490

147,524

Payments on account

229,662

272,998

Trade creditors

185,688

285,596

Taxation and social security

31,440

36,411

Other creditors

299,674

155,209

876,954

897,738

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans

-

58,333

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Bank overdrafts

72,157

97,524

Bank loans

58,333

108,333

130,490

205,857

The company has provided a fixed and floating charge in respect of its bank borrowings.

The directors have also provided personal security in respect of the bank loans.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

631

Preferred Ordinary

1p

6

2,524

Ordinary

£1

2,524

2,530

11.

RESERVES

Retained

earnings

£

At 1 April 2024

143,419

Profit for the year

20,058

At 31 March 2025

163,477

The fair value reserve does not form part of distributable reserves.

12.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £513,616 (2024 - £626,646). These relate to leasing commitments for the company's premises and vehicles.

13.	RELATED PARTY DISCLOSURES

The company leases its premises from the directors. The amount paid during the year was £nil (2024 - £44,000).