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REGISTERED NUMBER: SC339089 (Scotland)












Financial Statements

for the Year Ended 30 June 2023

for

Fast Fixx Catering Engineers Limited

Fast Fixx Catering Engineers Limited (Registered number: SC339089)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Fast Fixx Catering Engineers Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr J C Reid





SECRETARY: Mr J C Reid





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC339089 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Fast Fixx Catering Engineers Limited (Registered number: SC339089)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 38,000 46,000
Property, plant and equipment 5 147,631 80,935
185,631 126,935

CURRENT ASSETS
Inventories 8,000 8,000
Debtors 6 272,014 183,475
Cash at bank and in hand 911,576 883,991
1,191,590 1,075,466
CREDITORS
Amounts falling due within one year 7 231,410 212,099
NET CURRENT ASSETS 960,180 863,367
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,145,811

990,302

PROVISIONS FOR LIABILITIES 36,908 15,378
NET ASSETS 1,108,903 974,924

CAPITAL AND RESERVES
Called up share capital 8 90 100
Capital redemption reserve 10 -
Retained earnings 1,108,803 974,824
SHAREHOLDERS' FUNDS 1,108,903 974,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Fast Fixx Catering Engineers Limited (Registered number: SC339089)

Statement of Financial Position - continued
30 June 2023


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 director and authorised for issue on 16 October 2023 and were signed by:





Mr J C Reid - Director


Fast Fixx Catering Engineers Limited (Registered number: SC339089)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Fast Fixx Catering Engineers Limited is a private company, limited by shares , registered in Scotland. 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
Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

The Coronavirus outbreak has created great uncertainty and many challenges in all companies. In order to protect our business, we have taken prompt action to reduce costs across the company. While the impact of COVID-19 is still uncertain and the final impact on the company cannot be accurately predicted, the directors believe that they are in a secure financial position and will be able to trade through the current difficult climate.

Revenue
Turnover represents the amounts derived from the invoiced supply and maintenance of catering equipment, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Short leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


Fast Fixx Catering Engineers Limited (Registered number: SC339089)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 160,000
AMORTISATION
At 1 July 2022 114,000
Amortisation for year 8,000
At 30 June 2023 122,000
NET BOOK VALUE
At 30 June 2023 38,000
At 30 June 2022 46,000

Fast Fixx Catering Engineers Limited (Registered number: SC339089)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 July 2022 481 - -
Additions - 4,734 645
Disposals - - -
At 30 June 2023 481 4,734 645
DEPRECIATION
At 1 July 2022 481 - -
Charge for year - 592 81
Eliminated on disposal - - -
At 30 June 2023 481 592 81
NET BOOK VALUE
At 30 June 2023 - 4,142 564
At 30 June 2022 - - -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 128,650 15,853 144,984
Additions 104,195 - 109,574
Disposals (13,184 ) - (13,184 )
At 30 June 2023 219,661 15,853 241,374
DEPRECIATION
At 1 July 2022 47,715 15,853 64,049
Charge for year 35,687 - 36,360
Eliminated on disposal (6,666 ) - (6,666 )
At 30 June 2023 76,736 15,853 93,743
NET BOOK VALUE
At 30 June 2023 142,925 - 147,631
At 30 June 2022 80,935 - 80,935

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 263,137 177,570
Other debtors 8,877 5,905
272,014 183,475

Fast Fixx Catering Engineers Limited (Registered number: SC339089)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 2,667
Trade creditors 127,242 74,926
Taxation and social security 99,873 132,084
Other creditors 4,295 2,422
231,410 212,099

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 90 100