Company Registration No. 04687367 (England and Wales)
FLETCHER & POOLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
FLETCHER & POOLE LIMITED
COMPANY INFORMATION
Director
Mrs E. Carew
Company number
04687367
Registered office
Fletcher & Poole Ltd
1a Penrhyn Avenue
Rhos-on-Sea
Conwy
LL28 4PS
Accountants
Gareth Hughes & Company Limited
The Round House
Glan-y-Mor Road
Llandudno Junction
Conwy
LL31 9SN
FLETCHER & POOLE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
FLETCHER & POOLE LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
47,514
46,022
Current assets
Debtors
4
103,304
24,506
Cash at bank and in hand
135,440
506,254
238,744
530,760
Creditors: amounts falling due within one year
5
(69,902)
(298,141)
Net current assets
168,842
232,619
Total assets less current liabilities
216,356
278,641
Provisions for liabilities
(3,475)
(2,899)
Net assets
212,881
275,742
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
212,781
275,642
Total equity
212,881
275,742
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The 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.
The financial statements were approved and signed by the director and authorised for issue on 30 August 2023
Mrs E. Carew
Director
Company Registration No. 04687367
FLETCHER & POOLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information
Fletcher & Poole Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fletcher & Poole Ltd, 1a Penrhyn Avenue, Rhos-on-Sea, Conwy, LL284PS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“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 amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts
1.3
Tangible fixed assets
Tangible fixed assets 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:
Land and buildings Leasehold
Straight line over 20 years
Fixtures, fittings & equipment
15% reducing balance
Computer equipment
25% 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.
1.4
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
1.5
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 profit and loss account 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.
FLETCHER & POOLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
25
26
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2022
50,623
98,397
149,020
Additions
7,487
7,487
At 31 July 2023
50,623
105,884
156,507
Depreciation and impairment
At 1 August 2022
18,867
84,131
102,998
Depreciation charged in the year
2,532
3,463
5,995
At 31 July 2023
21,399
87,594
108,993
Carrying amount
At 31 July 2023
29,224
18,290
47,514
At 31 July 2022
31,756
14,266
46,022
FLETCHER & POOLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
36,147
19,110
Other debtors
67,157
5,396
103,304
24,506
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,163
6,127
Taxation and social security
57,799
114,958
Other creditors
4,940
177,056
69,902
298,141
6
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
3,475
2,899
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
66,739
73,169
FLETCHER & POOLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
9
Directors' transactions
During the period under consideration, the company paid rent of £26,000 (2022 - £26,000) to the director Mrs E. Carew, for the use of the Conwy office.
Also during the period under consideration, the company provided a residential property to the director Mrs E. Carew, there was no rental income charged by the company.
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Mrs E. Carew
2.00
(170,116)
363,009
359
(132,369)
60,883
(170,116)
363,009
359
(132,369)
60,883