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REGISTERED NUMBER: 09437433 (England and Wales)















Unaudited Financial Statements

for the Period

1 February 2021 to 31 December 2021

for

Fusion Networks Ltd

Fusion Networks Ltd (Registered number: 09437433)






Contents of the Financial Statements
for the Period 1 February 2021 to 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Fusion Networks Ltd

Company Information
for the Period 1 February 2021 to 31 December 2021







DIRECTORS: A J Linnen
M P Jones
S Donovan





REGISTERED OFFICE: Jackson House
Sibson road
Sale
M33 7RR





REGISTERED NUMBER: 09437433 (England and Wales)





ACCOUNTANTS: Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Fusion Networks Ltd (Registered number: 09437433)

Balance Sheet
31 December 2021

2021 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 8,131 57,083

CURRENT ASSETS
Stocks - 20,005
Debtors 5 5,014 31,434
Cash at bank 146,427 140,891
151,441 192,330
CREDITORS
Amounts falling due within one year 6 (53,812 ) (127,699 )
NET CURRENT ASSETS 97,629 64,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,760

121,714

CREDITORS
Amounts falling due after more than one
year

7

(35,650

)

-
NET ASSETS 70,110 121,714

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 70,109 121,713
SHAREHOLDERS' FUNDS 70,110 121,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 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.

Fusion Networks Ltd (Registered number: 09437433)

Balance Sheet - continued
31 December 2021


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 August 2022 and were signed on its behalf by:





A J Linnen - Director


Fusion Networks Ltd (Registered number: 09437433)

Notes to the Financial Statements
for the Period 1 February 2021 to 31 December 2021

1. STATUTORY INFORMATION

Fusion Networks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 2 ) .

Fusion Networks Ltd (Registered number: 09437433)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 31 December 2021

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2021 12,628 24,449 52,610 7,817 97,504
Disposals (12,628 ) (24,449 ) (23,925 ) (7,817 ) (68,819 )
At 31 December 2021 - - 28,685 - 28,685
DEPRECIATION
At 1 February 2021 3,436 10,777 20,834 5,374 40,421
Charge for period 1,444 13,672 9,043 2,443 26,602
Eliminated on disposal (4,880 ) (24,449 ) (9,323 ) (7,817 ) (46,469 )
At 31 December 2021 - - 20,554 - 20,554
NET BOOK VALUE
At 31 December 2021 - - 8,131 - 8,131
At 31 January 2021 9,192 13,672 31,776 2,443 57,083

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2021
£    £   
Trade debtors 5,014 31,434

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2021
£    £   
Bank loans and overdrafts 9,626 50,000
Hire purchase contracts (see note 8) - 13,084
Trade creditors 15,371 20,296
Taxation and social security 21,284 31,315
Other creditors 7,531 13,004
53,812 127,699

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2021
£    £   
Bank loans 35,650 -

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2021 2021
£    £   
Net obligations repayable:
Within one year - 13,084

Fusion Networks Ltd (Registered number: 09437433)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 31 December 2021

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2021
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained
earnings
£   

At 1 February 2021 121,713
Profit for the period 12,601
Dividends (64,205 )
At 31 December 2021 70,109

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Fusion Networks Ltd

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Fusion Networks Ltd for the period ended 31 December 2021 which comprise the Profit and Loss Account, Balance Sheet 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 Board of Directors of Fusion Networks Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fusion Networks Ltd and state those matters that we have agreed to state to the Board of Directors of Fusion Networks Ltd, as a body, 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 Fusion Networks Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fusion Networks 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 Fusion Networks Ltd. You consider that Fusion Networks Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Fusion Networks 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.






Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


3 August 2022