Acorah Software Products - Accounts Production 16.6.950 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 04350119 Mr R A Mackley Mr M J Wallis Mrs L G Wallis Mr M J Wallis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04350119 2024-02-29 04350119 2025-02-28 04350119 2024-03-01 2025-02-28 04350119 frs-core:CurrentFinancialInstruments 2025-02-28 04350119 frs-core:Non-currentFinancialInstruments 2025-02-28 04350119 frs-core:FurnitureFittings 2025-02-28 04350119 frs-core:FurnitureFittings 2024-03-01 2025-02-28 04350119 frs-core:FurnitureFittings 2024-02-29 04350119 frs-core:NetGoodwill 2025-02-28 04350119 frs-core:NetGoodwill 2024-03-01 2025-02-28 04350119 frs-core:NetGoodwill 2024-02-29 04350119 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-02-28 04350119 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 04350119 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 04350119 frs-core:MotorVehicles 2025-02-28 04350119 frs-core:MotorVehicles 2024-03-01 2025-02-28 04350119 frs-core:MotorVehicles 2024-02-29 04350119 frs-core:PlantMachinery 2025-02-28 04350119 frs-core:PlantMachinery 2024-03-01 2025-02-28 04350119 frs-core:PlantMachinery 2024-02-29 04350119 frs-core:SharePremium 2025-02-28 04350119 frs-core:ShareCapital 2025-02-28 04350119 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 04350119 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 04350119 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 04350119 frs-bus:SmallEntities 2024-03-01 2025-02-28 04350119 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 04350119 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 04350119 frs-bus:OrdinaryShareClass1 2024-03-01 2025-02-28 04350119 frs-bus:OrdinaryShareClass1 2025-02-28 04350119 frs-core:DeferredTaxation 2024-03-01 2025-02-28 04350119 frs-core:DeferredTaxation 2024-02-29 04350119 frs-core:DeferredTaxation 2025-02-28 04350119 frs-bus:Director1 2024-03-01 2025-02-28 04350119 frs-bus:Director2 2024-03-01 2025-02-28 04350119 frs-bus:Director3 2024-03-01 2025-02-28 04350119 frs-bus:CompanySecretary1 2024-03-01 2025-02-28 04350119 frs-countries:EnglandWales 2024-03-01 2025-02-28 04350119 2023-02-28 04350119 2024-02-29 04350119 2023-03-01 2024-02-29 04350119 frs-core:CurrentFinancialInstruments 2024-02-29 04350119 frs-core:Non-currentFinancialInstruments 2024-02-29 04350119 frs-core:SharePremium 2024-02-29 04350119 frs-core:ShareCapital 2024-02-29 04350119 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 04350119 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29
Registered number: 04350119
Fyfield Fine Foods Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 04350119
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 22,368 25,165
22,368 25,165
CURRENT ASSETS
Stocks 6 66,791 68,711
Debtors 7 67,571 89,837
Cash at bank and in hand 63,163 51,060
197,525 209,608
Creditors: Amounts Falling Due Within One Year 8 (48,792 ) (57,221 )
NET CURRENT ASSETS (LIABILITIES) 148,733 152,387
TOTAL ASSETS LESS CURRENT LIABILITIES 171,101 177,552
Creditors: Amounts Falling Due After More Than One Year 9 - (3,930 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (4,250 ) (4,781 )
NET ASSETS 166,851 168,841
CAPITAL AND RESERVES
Called up share capital 12 925 925
Share premium account 149,575 149,575
Income Statement 16,351 18,341
SHAREHOLDERS' FUNDS 166,851 168,841
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs L G Wallis
Director
27/11/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fyfield Fine Foods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04350119 . The registered office is 10-12 Mulberry Green, Harlow, Essex, CM17 0ET.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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.
There are no estimates and assumptions which have had significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the income statement over its estimated economic life of twenty years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 25% straight line basis
Plant & Machinery 33% on cost and 25% on reducing balance
Motor Vehicles 25% straight line basis
Fixtures & Fittings 33% straight line basis
2.6. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items.
2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and trade creditors.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.  Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
...CONTINUED
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2.7. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2024: 9)
9 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2024 67,569
As at 28 February 2025 67,569
Amortisation
As at 1 March 2024 67,569
As at 28 February 2025 67,569
...CONTINUED
Page 4
Page 5
Net Book Value
As at 28 February 2025 -
As at 1 March 2024 -
The company purchased the trade of Arran Foods Limited on the 1st March 2002 for £103,600 representing net assets of £36,031 and goodwill of £67,569.
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2024 7,206 25,836 140,813 10,222 184,077
Additions - - 9,185 - 9,185
As at 28 February 2025 7,206 25,836 149,998 10,222 193,262
Depreciation
As at 1 March 2024 7,206 22,363 119,709 9,634 158,912
Provided during the period - 868 10,526 588 11,982
As at 28 February 2025 7,206 23,231 130,235 10,222 170,894
Net Book Value
As at 28 February 2025 - 2,605 19,763 - 22,368
As at 1 March 2024 - 3,473 21,104 588 25,165
6. Stocks
2025 2024
£ £
Stock 66,791 68,711
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 66,481 83,947
Other debtors 1,090 5,890
67,571 89,837
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 41,453 51,566
Bank loans and overdrafts 3,974 3,052
Other creditors 500 -
Taxation and social security 2,865 2,603
48,792 57,221
Included within bank loans and overdrafts is a loan taken out under the BBL scheme.
Page 5
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9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 3,930
Included within bank loans is a loan taken out under the BBL scheme.
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 4,250 4,781
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 March 2024 4,781 4,781
Deferred taxation (531 ) (531 )
Balance at 28 February 2025 4,250 4,250
12. Share Capital
2025 2024
Allotted, called up and fully paid £ £
925 Ordinary Shares of £ 1 each 925 925
Page 6