REGISTERED NUMBER: 04855440 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Bifold Network Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Ensor

REGISTERED OFFICE:

Bamburgh House

Cuthbert Bank Road

Sheffield

South Yorkshire

S6 2HP

REGISTERED NUMBER:

04855440 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

325,036

206,150

325,036

206,150

CURRENT ASSETS

Stocks

71,083

110,632

Debtors

6

214,192

160,418

Cash at bank

795,019

931,199

1,080,294

1,202,249

CREDITORS

Amounts falling due within one year

7

491,543

644,369

NET CURRENT ASSETS

588,751

557,880

TOTAL ASSETS LESS CURRENT LIABILITIES

913,787

764,030

CREDITORS

Amounts falling due after more than one year

8

-

(12,145

)

PROVISIONS FOR LIABILITIES

(28,901

)

(28,901

)

NET ASSETS

884,886

722,984

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

884,884

722,982

SHAREHOLDERS' FUNDS

884,886

722,984

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 31 July 2025 and were signed by:

A Ensor - Director

1.	STATUTORY INFORMATION

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

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.

Development costs are being amortised evenly over their estimated useful life of five years.

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

Stocks

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

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 16 (2023 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

124,215

AMORTISATION

At 1 January 2024

and 31 December 2024

124,215

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

579,707

Additions

198,195

Disposals

(71,943

)

At 31 December 2024

705,959

DEPRECIATION

At 1 January 2024

373,557

Charge for year

71,081

Eliminated on disposal

(63,715

)

At 31 December 2024

380,923

NET BOOK VALUE

At 31 December 2024

325,036

At 31 December 2023

206,150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

209,342

146,571

Other debtors

4,850

13,847

214,192

160,418

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

12,144

16,192

Trade creditors

189,327

322,928

Amounts owed to group undertakings

3,236

83,531

Taxation and social security

96,233

73,651

Other creditors

190,603

148,067

491,543

644,369

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

-

12,145