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Company Registration No. 07582547 (England and Wales)
Fusion Entrance Systems Ltd Unaudited accounts for the year ended 31 March 2023
Fusion Entrance Systems Ltd Unaudited accounts Contents
Page
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Fusion Entrance Systems Ltd Company Information for the year ended 31 March 2023
Director
Mr J McLaren
Company Number
07582547 (England and Wales)
Registered Office
1 Stable Court Business Centre Water Lane Farm, Tarbock Green Liverpool Merseyside L35 1RD
Accountants
Invictus Accountancy Services Limited 1 Stable Court Business Centre Water Lane Farm Tarbock Green Liverpool Merseyside L35 1RD
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Fusion Entrance Systems Ltd Accountants' report
Accountants' report to the director of Fusion Entrance Systems Ltd on the preparation of the unaudited statutory accounts for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fusion Entrance Systems Ltd for the year ended 31 March 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Fusion Entrance Systems Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Fusion Entrance Systems Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fusion Entrance Systems Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fusion Entrance Systems Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fusion Entrance Systems Ltd. You consider that Fusion Entrance Systems Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Fusion Entrance Systems 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 accounts.
Invictus Accountancy Services Limited 1 Stable Court Business Centre Water Lane Farm Tarbock Green Liverpool Merseyside L35 1RD 26 June 2023
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Fusion Entrance Systems Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
30,929 
41,189 
Current assets
Debtors
31,798 
46,583 
Cash at bank and in hand
29,339 
4,340 
61,137 
50,923 
Creditors: amounts falling due within one year
(71,118)
(72,007)
Net current liabilities
(9,981)
(21,084)
Total assets less current liabilities
20,948 
20,105 
Creditors: amounts falling due after more than one year
(11,816)
(17,984)
Net assets
9,132 
2,121 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
9,130 
2,119 
Shareholders' funds
9,132 
2,121 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 June 2023 and were signed on its behalf by
Mr J McLaren Director Company Registration No. 07582547
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Fusion Entrance Systems Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Fusion Entrance Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 07582547. The registered office is 1 Stable Court Business Centre, Water Lane Farm, Tarbock Green, Liverpool, Merseyside, L35 1RD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Computer equipment
15% on reducing balance
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Fusion Entrance Systems Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
95,074 
2,166 
97,240 
At 31 March 2023
95,074 
2,166 
97,240 
Depreciation
At 1 April 2022
54,258 
1,793 
56,051 
Charge for the year
10,204 
56 
10,260 
At 31 March 2023
64,462 
1,849 
66,311 
Net book value
At 31 March 2023
30,612 
317 
30,929 
At 31 March 2022
40,816 
373 
41,189 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,498 
1,576 
Accrued income and prepayments
71 
- 
Other debtors
18,282 
34,266 
19,851 
35,842 
Amounts falling due after more than one year
Trade debtors
11,947 
10,741 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,296 
2,296 
Obligations under finance leases and hire purchase contracts
4,765 
4,765 
Taxes and social security
11,976 
6,232 
Loans from directors
50,202 
56,847 
Accruals
1,879 
1,867 
71,118 
72,007 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
7,267 
6,706 
Obligations under finance leases and hire purchase contracts
4,549 
11,278 
11,816 
17,984 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
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Fusion Entrance Systems Ltd Notes to the Accounts for the year ended 31 March 2023
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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