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Registration number: 13299045

Fieri Leadership and Development Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Fieri Leadership and Development Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Fieri Leadership and Development Ltd

Company Information

Directors

J Robinson

M S Johns

A Conlon

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Fieri Leadership and Development Ltd

(Registration number: 13299045)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

7,843

15,683

Tangible assets

5

14,396

13,151

 

22,239

28,834

Current assets

 

Debtors

6

199,453

248,581

Cash at bank and in hand

 

6,980

281,796

 

206,433

530,377

Creditors: Amounts falling due within one year

7

(245,568)

(322,583)

Net current (liabilities)/assets

 

(39,135)

207,794

Total assets less current liabilities

 

(16,896)

236,628

Creditors: Amounts falling due after more than one year

7

(240,748)

(70,290)

Net (liabilities)/assets

 

(257,644)

166,338

Capital and reserves

 

Retained earnings

(257,644)

166,338

Shareholders' (deficit)/funds

 

(257,644)

166,338

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2023 and signed on its behalf by:
 

.........................................
J Robinson
Director

 

Fieri Leadership and Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Fieri Leadership and Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Straight Line

Office Equipment

25% Straight Line

Motor Vehicles

25% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

33.33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Fieri Leadership and Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2022 - 11).

 

Fieri Leadership and Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

23,523

23,523

At 31 March 2023

23,523

23,523

Amortisation

At 1 April 2022

7,840

7,840

Amortisation charge

7,840

7,840

At 31 March 2023

15,680

15,680

Carrying amount

At 31 March 2023

7,843

7,843

At 31 March 2022

15,683

15,683

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

11,241

2,215

4,078

17,534

Additions

5,754

-

1,872

7,626

Disposals

(181)

-

-

(181)

At 31 March 2023

16,814

2,215

5,950

24,979

Depreciation

At 1 April 2022

2,810

554

1,019

4,383

Charge for the year

4,203

554

1,488

6,245

Eliminated on disposal

(45)

-

-

(45)

At 31 March 2023

6,968

1,108

2,507

10,583

Carrying amount

At 31 March 2023

9,846

1,107

3,443

14,396

At 31 March 2022

8,431

1,661

3,059

13,151

 

Fieri Leadership and Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

2023
£

2022
£

Trade debtors

120,239

229,986

Taxation and social security

64,429

-

Prepayments

13,867

18,595

Other debtors

918

-

199,453

248,581

 

Fieri Leadership and Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

84,720

18,555

Trade creditors

 

59,601

56,638

Taxation and social security

 

26,650

194,737

Accruals and deferred income

 

30,002

4,000

Other creditors

 

24,922

1,625

Director loan account

 

19,673

47,028

 

245,568

322,583

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

240,748

70,290

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

80,747

70,290

Other borrowings

160,001

-

240,748

70,290

2023
£

2022
£

Current loans and borrowings

Bank borrowings

84,720

18,555