FIDLER & PEPPER LIMITED


Directors	GODSON, Joanne Lesley
	HOWARD, Richard Andrew
	SLADE, Mark Anthony
	SLADE, Matthew Steven
	WALKER, Wendy


Company Secretary	SLADE, Mark Anthony


Registered Address	1 Low Street
	1 Low Street
	Sutton-In-Ashfield
	NG17 1DH


Registered Number	10176392 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

Operating leases

Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Amortisation
	Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of goodwill has been set at 50 years and the asset will be amortised on a straight-line basis over that period.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	50
	Fixtures and fittings	15

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees
	The average monthly number of employees during the year was:


		2025		2024
	Average number of employees during the year	162		139

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	2,250,000	2,250,000
At 31 March 25	2,250,000	2,250,000
Amortisation and impairment
At 01 April 24	618,750	618,750
Charge for year	112,500	112,500
At 31 March 25	731,250	731,250
Net book value
At 31 March 25	1,518,750	1,518,750
At 31 March 24	1,631,250	1,631,250

4.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 April 24	211,544	168,993	380,537
Additions	-	34,134	34,134
At 31 March 25	211,544	203,127	414,671
Depreciation and impairment
At 01 April 24	16,869	91,270	108,139
Charge for year	3,231	28,147	31,378
At 31 March 25	20,100	119,417	139,517
Net book value
At 31 March 25	191,444	83,710	275,154
At 31 March 24	194,675	77,723	272,398

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	554,202	603,128
Other debtors	135,751	76,847
Prepayments and accrued income	532,075	326,458
Total	1,222,028	1,006,433

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	81,971	67,074
Bank borrowings and overdrafts	51,548	98,200
Taxation and social security	908,483	624,047
Other creditors	10,605	416,632
Accrued liabilities and deferred income	54,438	69,496
Total	1,107,045	1,275,449

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	111,465	121,214
Total	111,465	121,214

8.	Secured creditors
	Bank loans are secured by way of a fixed and floating charge in favor of Clydesdale Bank PLC dated 04 January 2019.

9.	Provisions for liabilities
	The provision for deferred tax is in respect of accelerated capital allowances.

	2025	2024
	£	£
Net deferred tax liability (asset)	20,300	21,163
Total	20,300	21,163

10.	Pension commitments
	The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £10,319 (2024 - £13,478) were due to the fund.

11.	Operating lease commitments
	At 31 March 2024 the company had future minimum lease payments under non-cancellable operating leases of £29,098 (2024 - £41,762).

12.	Directors advances, credits and guarantees
	On 01 April 2024 the company owed a director £231,403. During the period this director was advanced £250,146 and repaid £7,200. As at 31 March 2025 this director owed the company £11,543. On 01 April 2024 the company owed another director £171,466. During the period this director was advanced £258,885 and repaid £7,200. As at 31 March 2025 this director owed the company £80,219.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		1,518,750		1,631,250
Tangible assets	4		275,154		272,398
			1,793,904		1,903,648
Current assets
Debtors	5	1,222,028		1,006,433
Cash at bank and on hand		1,550,157		577,277
		2,772,185		1,583,710
Creditors amounts falling due within one year	6	(1,107,045)		(1,275,449)
Net current assets (liabilities)			1,665,140		308,261
Total assets less current liabilities			3,459,044		2,211,909
Creditors amounts falling due after one year	7		(111,465)		(121,214)
Provisions for liabilities	9		(20,300)		(21,163)
Net assets			3,327,279		2,069,532
Capital and reserves
Called up share capital			103		103
Share premium			447		447
Profit and loss account			3,326,729		2,068,982
Shareholders' funds			3,327,279		2,069,532