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REGISTERED NUMBER: 00514836 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

FIC limited

FIC limited (Registered number: 00514836)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIC limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: C J Trower
R K L Bowley
J D Trower
S C Bickford Smith





SECRETARY:





REGISTERED OFFICE: Cobweb Cottage
Newton Valence
Alton
Hampshire
GU34 3RQ





REGISTERED NUMBER: 00514836 (England and Wales)





ACCOUNTANTS: John Parratt Associates
Chartered Certified Accountants
94 Shortheath Road
Farnham
Surrey
GU9 8SQ

FIC limited (Registered number: 00514836)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,413,370 2,413,548

CURRENT ASSETS
Debtors 5 53,937 47,927
Cash at bank 72,875 96,313
126,812 144,240
CREDITORS
Amounts falling due within one year 6 246,212 278,772
NET CURRENT LIABILITIES (119,400 ) (134,532 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,293,970

2,279,016

PROVISIONS FOR LIABILITIES 400,577 309,515
NET ASSETS 1,893,393 1,969,501

CAPITAL AND RESERVES
Called up share capital 1,003 1,003
Retained earnings 1,892,390 1,968,498
SHAREHOLDERS' FUNDS 1,893,393 1,969,501

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

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

FIC limited (Registered number: 00514836)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 15 September 2023 and were signed on its behalf by:





C J Trower - Director


FIC limited (Registered number: 00514836)

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

1. STATUTORY INFORMATION

FIC 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.

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
Revenue 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 etc - 33% on cost

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

FIC limited (Registered number: 00514836)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 2,445,436 2,553 2,447,989
DEPRECIATION
At 1 April 2022 32,250 2,191 34,441
Charge for year - 178 178
At 31 March 2023 32,250 2,369 34,619
NET BOOK VALUE
At 31 March 2023 2,413,186 184 2,413,370
At 31 March 2022 2,413,186 362 2,413,548

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 36,907 30,627
Other debtors 17,030 17,300
53,937 47,927

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 19,351 33,210
Taxation and social security 19,567 30,674
Other creditors 207,294 214,888
246,212 278,772