Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-311false2020-12-07falseEngineering design activitiestrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13067057 2020-12-06 13067057 2020-12-07 2021-12-31 13067057 2019-12-07 2020-12-06 13067057 2021-12-31 13067057 c:Director1 2020-12-07 2021-12-31 13067057 d:PlantMachinery 2020-12-07 2021-12-31 13067057 d:PlantMachinery 2021-12-31 13067057 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-12-07 2021-12-31 13067057 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2020-12-07 2021-12-31 13067057 d:OfficeEquipment 2020-12-07 2021-12-31 13067057 d:OfficeEquipment 2021-12-31 13067057 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-12-07 2021-12-31 13067057 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2020-12-07 2021-12-31 13067057 d:OwnedOrFreeholdAssets 2020-12-07 2021-12-31 13067057 d:LeasedAssetsHeldAsLessee 2020-12-07 2021-12-31 13067057 d:CurrentFinancialInstruments 2021-12-31 13067057 d:Non-currentFinancialInstruments 2021-12-31 13067057 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 13067057 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 13067057 d:ShareCapital 2021-12-31 13067057 d:RetainedEarningsAccumulatedLosses 2021-12-31 13067057 c:FRS102 2020-12-07 2021-12-31 13067057 c:AuditExempt-NoAccountantsReport 2020-12-07 2021-12-31 13067057 c:FullAccounts 2020-12-07 2021-12-31 13067057 c:PrivateLimitedCompanyLtd 2020-12-07 2021-12-31 13067057 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2020-12-07 2021-12-31 13067057 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 13067057










FLEETCROFT MACHINING SOLUTIONS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2021

 
FLEETCROFT MACHINING SOLUTIONS LTD
REGISTERED NUMBER: 13067057

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
Note
£

Fixed assets
  

Tangible assets
  
61,183

  
61,183

Current assets
  

Debtors: amounts falling due within one year
  
3,134

Cash at bank and in hand
  
823

  
3,957

Creditors: amounts falling due within one year
  
(42,391)

Net current (liabilities)/assets
  
 
 
(38,434)

Total assets less current liabilities
  
22,749

Creditors: amounts falling due after more than one year
  
(25,957)

  

Net (liabilities)/assets
  
(3,208)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(3,209)

  
(3,208)


Page 1

 
FLEETCROFT MACHINING SOLUTIONS LTD
REGISTERED NUMBER: 13067057
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 September 2022.




J Fleetcroft
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FLEETCROFT MACHINING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

1.


General information

Fleetcroft Machining Solutions Ltd is a private company limited by shares, incorporated and domiciled in England and Wales.  The registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The Company's principal place of business is Great Yarmouth, Norfolk.
The Company's principal activity is the provision of CNC design services and production.
The Company was incorporated on 7 December 2020.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the director considers that the Company retains sufficient working capital to continue trading for a period of at least twelve months from the date of approval of the financial statements.

Page 3

 
FLEETCROFT MACHINING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
FLEETCROFT MACHINING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 

Page 5

 
FLEETCROFT MACHINING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

3.


Employees

The average monthly number of employees, including the director, during the period was as follows:


        2021
            No.






Director
1


4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


Additions
65,886
154
66,040



At 31 December 2021

65,886
154
66,040



Depreciation


Charge for the period on owned assets
3,200
19
3,219


Charge for the period on financed assets
1,638
-
1,638



At 31 December 2021

4,838
19
4,857



Net book value



At 31 December 2021
61,048
135
61,183

Page 6

 
FLEETCROFT MACHINING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

5.


Debtors

2021
£


Trade debtors
581

Other debtors
2,553

3,134



6.


Creditors: Amounts falling due within one year

2021
£

Obligations under finance lease and hire purchase contracts
10,121

Other creditors
30,842

Accruals and deferred income
1,428

42,391



7.


Creditors: Amounts falling due after more than one year

2021
£

Net obligations under finance leases and hire purchase contracts
25,957

25,957



8.


Related party transactions

At 31 December 2021, the director was owed £30,146 by the Company.
This loan is interest free, and included within other creditors, within note 6 to the financial statements.

 
Page 7