Fairfield Control Systems Limited Filleted accounts for Companies House (small and micro)
Fairfield Control Systems Limited Filleted accounts for Companies House (small and micro)
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Company Registration Number
02970677
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Financial statements |
period ended 31 December 2021
Contents |
Pages |
Balance sheet |
1 to 2 |
Notes to the financial statements |
3 to 8 |
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Balance sheet |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Provisions |
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Accruals and deferred income |
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Net assets |
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Balance sheet (continued) |
2020 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account and directors' report have not been delivered.
Directors' responsibilities:
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The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
13 May 2022
, and are signed on behalf of the board by:
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Director |
Company registration number:
02970677
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Notes to the financial statements |
period ended 31 December 2021
1.
Statement of compliance
2.
Accounting policies
2.1
Basis of preparation
2.2
Consolidation
2.3
Revenue recognition
2.4
Income tax
2.5
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.6
Tangible assets
2.7
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property |
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Straight line over period of lease |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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2.8
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
2.9
Stocks
2.10
Finance leases and hire purchase contracts
2.11
Government grants
2.12
Defined contribution plans
3.
Employee numbers
The average number of persons employed by the company during the period amounted to
64
(2020:
58
).
4.
Intangible assets
Goodwill |
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Cost |
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At 1 Jan 2021 and 31 Dec 2021 |
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Amortisation |
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At 1 Jan 2021 and 31 Dec 2021 |
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Carrying amount |
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At 31 December 2021 |
– |
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5.
Tangible assets
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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Cost |
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At 1 January 2021 |
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Additions |
– |
– |
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– |
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At 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
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Charge for the period |
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– |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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– |
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At 31 December 2020 |
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– |
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6.
Debtors
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
Trade creditors |
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Corporation tax |
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– |
Social security and other taxes |
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Other creditors |
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Obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate.
8.
Creditors:
amounts falling due after more than one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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Obligations under finance leases and hire purchase contracts |
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Obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate.
9.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Randall Park Way, Retford, Nottinghamshire.