REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2021 |
for |
Factoree Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2021 |
for |
Factoree Ltd |
Factoree Ltd (Registered number: 11686567) |
Contents of the Financial Statements |
for the Year Ended 30 November 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 5 |
Factoree Ltd |
Company Information |
for the Year Ended 30 November 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Granary |
Crowhill Farm |
Ravensden Road |
Wilden |
Bedfordshire |
MK44 2QS |
Factoree Ltd (Registered number: 11686567) |
Statement of Financial Position |
30 November 2021 |
30.11.21 | 30.11.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Factoree Ltd (Registered number: 11686567) |
Notes to the Financial Statements |
for the Year Ended 30 November 2021 |
1. | STATUTORY INFORMATION |
Factoree Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from that standard. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue is recognised when all work has been completed and invoiced. |
Tangible fixed assets |
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows: |
Fixtures and fittings - 25% reducing balance |
Computer equipment - 33% on cost |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. |
Tax deferred or accelerated is accounted for in respect of all material timing differences. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
Factoree Ltd (Registered number: 11686567) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2020 |
Additions |
At 30 November 2021 |
DEPRECIATION |
At 1 December 2020 |
Charge for year |
At 30 November 2021 |
NET BOOK VALUE |
At 30 November 2021 |
At 30 November 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.21 | 30.11.20 |
£ | £ |
Trade debtors |
Tax |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.21 | 30.11.20 |
£ | £ |
Trade creditors |
Tax |
VAT | 7,886 | - |
Directors' current accounts | 15,163 | 11,157 |
Accrued expenses |
7. | RELATED PARTY DISCLOSURES |
The amount outstanding at the year-end due to Mr L Archard was £15,163 (2020 - £11,157). |
8. | GOING CONCERN |
The director has considered the consequences of Covid-19 and other events and conditions, and has determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern. |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Factoree Ltd |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Factoree Ltd for the year ended 30 November 2021 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Factoree Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Factoree Ltd and state those matters that we have agreed to state to the director of Factoree Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Factoree Ltd and its director for our work or for this report. |
It is your duty to ensure that Factoree Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Factoree Ltd. You consider that Factoree Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Factoree Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
The Granary |
Crowhill Farm |
Ravensden Road |
Wilden |
Bedfordshire |
MK44 2QS |