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REGISTERED NUMBER: 05045193 (England and Wales)





F4CONTROL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F4CONTROL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr C Lightbody
Mr J Lightbody



SECRETARY: Mrs V Lightbody



REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



REGISTERED NUMBER: 05045193 (England and Wales)



ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: Natwest
9 Church Street
Mansfield
Nottinghamshire
NG18 1HP

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 604,104 750,819

CURRENT ASSETS
Debtors 6 2,227,802 2,057,664
Cash at bank 156,179 230,289
2,383,981 2,287,953
CREDITORS
Amounts falling due within one year 7 2,504,301 1,681,898
NET CURRENT (LIABILITIES)/ASSETS (120,320 ) 606,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

483,784

1,356,874

CREDITORS
Amounts falling due after more than one
year

8

(223,668

)

(405,155

)

PROVISIONS FOR LIABILITIES (108,426 ) (94,941 )
NET ASSETS 151,690 856,778

CAPITAL AND RESERVES
Called up share capital 10 165 165
Retained earnings 151,525 856,613
SHAREHOLDERS' FUNDS 151,690 856,778

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

BALANCE SHEET - continued
31 JANUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2023 and were signed on its behalf by:




Mr C Lightbody - Director



Mr J Lightbody - Director


F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

F4Control Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value excluding Value Added Tax of transportation services provided to customers during the year. All income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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 balance sheet date.

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


3. ACCOUNTING POLICIES - continued

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement 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.

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

First time adoption of frs102 section 1a
The company has adopted FRS 102 (section 1A) for the first time in the year ended 31 January 2017. The accounting policies have been re-worded to comply with the new standard, however this has not resulted in any change to the accounting treatment of any items. As a result, the comparatives do not require restatement.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 167 (2022 - 170 ) .

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2022 8,080 40,267 31,120
Additions - - -
Disposals - - -
At 31 January 2023 8,080 40,267 31,120
DEPRECIATION
At 1 February 2022 2,424 16,457 19,001
Charge for year 808 3,573 3,030
Eliminated on disposal - - -
At 31 January 2023 3,232 20,030 22,031
NET BOOK VALUE
At 31 January 2023 4,848 20,237 9,089
At 31 January 2022 5,656 23,810 12,119

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 1,203,511 4,820 1,287,798
Additions 72,687 - 72,687
Disposals (167,624 ) - (167,624 )
At 31 January 2023 1,108,574 4,820 1,192,861
DEPRECIATION
At 1 February 2022 496,297 2,800 536,979
Charge for year 137,975 303 145,689
Eliminated on disposal (93,911 ) - (93,911 )
At 31 January 2023 540,361 3,103 588,757
NET BOOK VALUE
At 31 January 2023 568,213 1,717 604,104
At 31 January 2022 707,214 2,020 750,819

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022 450,520
Additions 48,750
At 31 January 2023 499,270
DEPRECIATION
At 1 February 2022 52,110
Charge for year 86,788
At 31 January 2023 138,898
NET BOOK VALUE
At 31 January 2023 360,372
At 31 January 2022 398,410

Included in the net book value of tangible assets held at 31 January 2023 was £360,372 (2022: £398,410) relating to motor vehicles purchased under hire purchase agreements

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 598,500 672,349
Bad debt provision (123,619 ) (181,860 )
Amounts owed by related parties 427,000 133,769
Other debtors 1,278,781 1,377,186
Prepayments and accrued income 47,139 56,220
2,227,801 2,057,664

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Directors' loan accounts 1 -

Aggregate amounts 2,227,802 2,057,664

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 160,232 161,756
Trade creditors 287,366 222,374
Amounts owed to related parties 934,994 128,538
Corporation tax 78,226 96,368
Social security and other taxes 33,724 40,068
VAT 91,962 100,674
Other creditors 639,313 620,026
Directors' current accounts 245,169 209,660
Accruals and deferred income 33,315 102,434
2,504,301 1,681,898

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 223,667 325,333
Directors' loan accounts 1 79,822
223,668 405,155

F4CONTROL LIMITED (REGISTERED NUMBER: 05045193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 383,899 487,089

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid
Number Class NominalValue 2022£ 2021£
100 Ordinary £1 100 100
25 Ordinary A £1 25 25
10 Ordinary B £1 10 10
10 Ordinary C £1 10 10
10 Ordinary D £1 10 -
10 Ordinary E £1 10 -
165 145

11. RELATED PARTY DISCLOSURES

During the year the company acquired services from related parties of £85,505, (2022 - £128,538). At the balance sheet date the company owed to related parties £1,086,043 (2022 - £128,538).

At the balance sheet date the company was owed from related parties £383,769 (2022 - £133,769).

Dividends declared in the year were £1,018,280 (2022 - £356,896).

Key management personnel remuneration in the year totalled £22,792. (2022 : £19,113.)

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Lightbody.