Company registration number 03698611 (England and Wales)
MAYFIELD & COMPANY (ACCOUNTANTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
MAYFIELD & COMPANY (ACCOUNTANTS) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Intangible assets
4
665,228
741,254
Property, plant and equipment
5
63,492
71,586
Investments
6
327,755
304,376
1,056,475
1,117,216
Current assets
Trade and other receivables
8
793,415
625,221
Cash and cash equivalents
587,220
482,394
1,380,635
1,107,615
Current liabilities
9
(930,346)
(1,005,281)
Net current assets
450,289
102,334
Total assets less current liabilities
1,506,764
1,219,550
Equity
Called up share capital
100
100
Retained earnings
1,506,664
1,219,450
Total equity
1,506,764
1,219,550

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MAYFIELD & COMPANY (ACCOUNTANTS) LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2025
30 June 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 March 2026 and are signed on its behalf by:
Mr D T Mayfield
Mr A N Downes
Director
Director
Mr T P Mayfield
Mr S Mayfield
Director
Director
Company Registration No. 03698611
MAYFIELD & COMPANY (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Accounting policies
Company information

Mayfield & Company (Accountants) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% on reducing balance
Fixtures, fittings & equipment
10% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Non-current investments

Interests in financial investments and financial markets are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

MAYFIELD & COMPANY (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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

Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value which is normally the transaction price excluding transaction costs. Such assets are subsequently measured at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss.

1.7
Equity instruments

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Company contributions to defined contribution plans for the benefit of employee's are expensed as they become payable.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

MAYFIELD & COMPANY (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
22
22
4
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2024 and 30 June 2025
2,380,598
Amortisation and impairment
At 1 July 2024
1,639,344
Amortisation charged for the year
76,026
At 30 June 2025
1,715,370
Carrying amount
At 30 June 2025
665,228
At 30 June 2024
741,254
MAYFIELD & COMPANY (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
5
Property, plant and equipment
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 July 2024
108,564
88,120
196,684
Additions
998
-
0
998
At 30 June 2025
109,562
88,120
197,682
Depreciation and impairment
At 1 July 2024
65,963
59,135
125,098
Depreciation charged in the year
6,248
2,844
9,092
At 30 June 2025
72,211
61,979
134,190
Carrying amount
At 30 June 2025
37,351
26,141
63,492
At 30 June 2024
42,601
28,985
71,586
6
Fixed asset investments
2025
2024
£
£
Other investments other than loans
327,755
304,376
Movements in non-current investments
Investments
£
Cost or valuation
At 1 July 2024
304,376
Additions
12,000
Valuation changes
11,379
At 30 June 2025
327,755
Carrying amount
At 30 June 2025
327,755
At 30 June 2024
304,376
MAYFIELD & COMPANY (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
7
Financial instruments
2025
2024
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
327,755
304,376
8
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
402,586
359,231
Other receivables
384,714
262,451
Prepayments and accrued income
6,115
3,539
793,415
625,221
9
Current liabilities
2025
2024
£
£
Trade payables
20,341
26,937
Corporation tax
202,511
96,979
Other taxation and social security
28,557
45,425
Other payables
678,937
835,940
930,346
1,005,281
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