Registration number: 00537408

Fenwick Brothers Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

Fenwick Brothers Limited

(Registration number: 00537408)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	18,522,703	16,853,603
Current assets
Stocks	5	493,633	675,838
Debtors	6	1,432,933	1,349,412
Cash at bank and in hand		16,562	52,073
		1,943,128	2,077,323
Creditors: Amounts falling due within one year	7	(2,774,445)	(2,435,584)
Net current liabilities		(831,317)	(358,261)
Total assets less current liabilities		17,691,386	16,495,342
Creditors: Amounts falling due after more than one year	7	(7,185,589)	(5,771,048)
Provisions for liabilities		(1,503,784)	(1,576,865)
Net assets		9,002,013	9,147,429
Capital and reserves
Called up share capital		12,700	12,700
Capital redemption reserve		7,300	7,300
Revaluation reserve		12,309,618	12,309,618
Retained earnings		(3,327,605)	(3,182,189)
Shareholders' funds		9,002,013	9,147,429

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 November 2025
 

......................................... J Fenwick Director

Fenwick Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Beelsby House
Beelsby
Grimsby
North East Lincolnshire
DN37 0TL

These financial statements were authorised for issue by the director on 18 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

The company is reliant on the continued support of the director and the bank.

The director and the bank continue to be satisfied that the company can service the outstanding debt and that the company's asset valuation is sufficient to cover any liability should the debt need to be recalled at any time.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Fenwick Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets, except for land and buildings, are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Land and buildings are shown at their revalued amounts.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20/25% per annum on a reducing balance basis
Motor vehicles	25% per annum on a reducing balance basis
Buildings	5% per annum on a straight line basis
Leasehold buildings	20% per annum on a reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Where costs cannot be reliably calculated, deemed cost is used in line with HMRC guidance HS232.

Biological assets are living plants controlled by the company from which it expects to derive future economic benefit. These are measured at the lower of cost and estimated selling price, less cost to sell.

Fenwick Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

The company operates pension scheme for employees in line with the auto-enrolment pension regulations.

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 22 (2024 - 19).

Fenwick Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Plant and machinery etc.  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	15,089,766	1,276,362	1,825,889	18,192,017
Additions	-	1,500	2,252,570	2,254,070
Disposals	-	-	(56,050)	(56,050)
At 31 March 2025	15,089,766	1,277,862	4,022,409	20,390,037
Depreciation
At 1 April 2024	317,246	673,065	348,103	1,338,414
Charge for the year	24,191	93,599	417,614	535,404
Eliminated on disposal	-	-	(6,484)	(6,484)
At 31 March 2025	341,437	766,664	759,233	1,867,334
Carrying amount
At 31 March 2025	14,748,329	511,198	3,263,176	18,522,703
At 31 March 2024	14,772,520	603,297	1,477,786	16,853,603

Included within the net book value of land and buildings above is £14,745,257 (2024 - £14,768,680) in respect of freehold land and buildings and £3,072 (2024 - £3,840) in respect of long leasehold land and buildings.
 

Revaluation

The fair value of the Company's Freehold land and buildings was revalued on 31 March 2023. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,038,754 (2024 - £1,038,754).

5

Stocks

	2025 £	2024 £
Other inventories	493,633	675,838

Fenwick Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current	2025 £	2024 £
Trade debtors	871,825	993,624
Prepayments	61,193	43,965
Other debtors	499,915	311,823
	1,432,933	1,349,412

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	1,665,027	1,438,438
Trade creditors		616,773	594,370
Taxation and social security		153,328	142,623
Accruals and deferred income		140,138	34,543
Other creditors		199,179	225,610
		2,774,445	2,435,584