REGISTERED NUMBER: |
FCN GROUP LTD |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
REGISTERED NUMBER: |
FCN GROUP LTD |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
Page |
Report of the Directors | 1 |
Profit and loss account | 2 |
Balance Sheet | 3 |
Statement of Changes in Equity | 5 |
Notes to the Financial Statements | 6 |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2022 |
The directors present their report with the financial statements of the company for the year ended 31 March 2022. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2021 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 31 MARCH 2022 |
2022 | 2021 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
288,827 | 30,021 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
296,147 | 30,567 |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
BALANCE SHEET |
31 MARCH 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their 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. |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
BALANCE SHEET - continued |
31 MARCH 2022 |
The financial statements were approved by the Board of Directors and authorised for issue on |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 MARCH 2022 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 April 2020 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2021 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2022 |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
1. | STATUTORY INFORMATION |
FCN Group Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
2. | ACCOUNTING POLICIES - continued |
Retirements benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2022 | 2021 |
£ | £ |
Depreciation - owned assets |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
Additions |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
FCN GROUP LTD (REGISTERED NUMBER: 11935948) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years |
by instalments | - | 1,667 |
- | 1,667 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the company made available to the directors unsecured loans by way of advances and credits. The total of advances and credits made during the year was £49,834 (2021 - £46,061). The total of repayments made during the year was £61,675 (2021 - £22,500). The loans had no fixed terms of repayment and interest was charged at the official rate. The loans were repaid in full by 30 September 2022. |
The directors of the company are also the only shareholders of the company and are aware of the requirements of Section 197 of the Companies Act 2006 regarding approval by the members of loans to directors. |