Company Registration No. 04687367 (England and Wales)
FLETCHER & POOLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
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
Bankers
Lloyds TSB
268 High Street
Bangor
LL57 1RT
FLETCHER & POOLE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
FLETCHER & POOLE LIMITED
BALANCE SHEET
AS AT
31 JULY 2021
31 July 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
512,033
506,880
Current assets
Debtors
5
61,260
27,475
Cash at bank and in hand
440,287
177,326
501,547
204,801
Creditors: amounts falling due within one year
6
(174,632)
(127,399)
Net current assets
326,915
77,402
Total assets less current liabilities
838,948
584,282
Provisions for liabilities
(3,335)
(3,434)
Net assets
835,613
580,848
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
835,513
580,748
Total equity
835,613
580,848
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 2021 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.
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.
The financial statements were approved and signed by the director and authorised for issue on 20 December 2021
Mrs E. Carew
Director
Company Registration No. 04687367
FLETCHER & POOLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
- 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 a
mounts
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 Freehold
1% Straight line basis
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 2021
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.
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred
. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
26
23
3
Taxation
2021
2020
£
£
Current tax
UK corporation tax on profits for the current period
73,747
47,800
Deferred tax
Origination and reversal of timing differences
(99)
(573)
Total tax charge
73,648
47,227
FLETCHER & POOLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2021
- 4 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2020
502,605
95,091
597,696
Additions
13,660
2,645
16,305
At 31 July 2021
516,265
97,736
614,001
Depreciation and impairment
At 1 August 2020
13,803
77,013
90,816
Depreciation charged in the year
7,189
3,963
11,152
At 31 July 2021
20,992
80,976
101,968
Carrying amount
At 31 July 2021
495,273
16,760
512,033
At 31 July 2020
488,802
18,078
506,880
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
56,334
22,652
Other debtors
4,926
4,823
61,260
27,475
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
9,545
8,213
Corporation tax
73,747
47,975
Other taxation and social security
74,986
53,574
Other creditors
16,354
17,637
174,632
127,399
7
Provisions for liabilities
2021
2020
£
£
Deferred tax liabilities
3,335
3,434
FLETCHER & POOLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2021
- 5 -
8
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
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:
2021
2020
£
£
76,228
53,771
10
Directors' transactions
Dividends totalling £48,000 (2020 - £40,000) were paid in the year in respect of shares held by the company's directors.
During the period under consideration, the company paid rent of £26,000 (2020 - £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.