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REGISTERED NUMBER: 11935948 (England and Wales)















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.

Miss L Sanders
B J Lambert

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:





B J Lambert - Director


24 August 2022

FCN GROUP LTD (REGISTERED NUMBER: 11935948)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
Notes £    £   

TURNOVER 6,719,166 1,373,734

Cost of sales 5,219,054 1,157,879
GROSS PROFIT 1,500,112 215,855

Administrative expenses 1,211,285 185,834
288,827 30,021

Other operating income 7,215 -
OPERATING PROFIT 4 296,042 30,021

Interest receivable and similar income 105 546
296,147 30,567

Interest payable and similar expenses 1,009 -
PROFIT BEFORE TAXATION 295,138 30,567

Tax on profit 56,366 5,960
PROFIT FOR THE FINANCIAL YEAR 238,772 24,607

FCN GROUP LTD (REGISTERED NUMBER: 11935948)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 206,513 4,951

CURRENT ASSETS
Debtors 6 54,292 37,028
Cash at bank 135,250 37,801
189,542 74,829
CREDITORS
Amounts falling due within one year 7 169,320 36,470
NET CURRENT ASSETS 20,222 38,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

226,735

43,310

CREDITORS
Amounts falling due after more than one
year

8

(31,667

)

(41,667

)

PROVISIONS FOR LIABILITIES (3,469 ) (941 )
NET ASSETS 191,599 702

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 191,499 602
191,599 702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2022 and were signed on its behalf by:




Miss L Sanders - Director



B J Lambert - Director


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 100 495 595

Changes in equity
Dividends - (24,500 ) (24,500 )
Total comprehensive income - 24,607 24,607
Balance at 31 March 2021 100 602 702

Changes in equity
Dividends - (47,875 ) (47,875 )
Total comprehensive income - 238,772 238,772
Balance at 31 March 2022 100 191,499 191,599

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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11935948

Registered office: 1st Floor
Packwood House
Guild Street
Stratford upon Avon
Warwickshire
CV37 6RP

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost and 3 years straight line

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 107 (2021 - 50 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2022 2021
£    £   
Depreciation - owned assets 27,890 2,545

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2021 - 7,629 7,629
Additions 129,995 99,457 229,452
At 31 March 2022 129,995 107,086 237,081
DEPRECIATION
At 1 April 2021 - 2,678 2,678
Charge for year - 27,890 27,890
At 31 March 2022 - 30,568 30,568
NET BOOK VALUE
At 31 March 2022 129,995 76,518 206,513
At 31 March 2021 - 4,951 4,951

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 17,870 9,113
Other debtors 36,422 27,915
54,292 37,028

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 10,000 8,333
Trade creditors - 422
Taxation and social security 124,320 19,297
Other creditors 35,000 8,418
169,320 36,470

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 31,667 41,667

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.