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Company Registration No. 06788136 (England and Wales)
Fibretech UK Ltd Unaudited accounts for the year ended 31 March 2023
Fibretech UK Ltd Company Information for the year ended 31 March 2023
Directors
Stephen Andrews David Blacknell Stuart Andrews
Company Number
06788136 (England and Wales)
Registered Office
Unit 5 2M Trade Park Beddow Way Aylesford Kent ME20 7BT England
Accountants
Clark Denney Limited 21 Snodhurst Avenue Walderslade Chatham Kent ME5 0SX
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Fibretech UK Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
333,031 
170,828 
Current assets
Inventories
14,240 
29,436 
Debtors
938,151 
570,184 
Cash at bank and in hand
1,573,103 
1,129,469 
2,525,494 
1,729,089 
Creditors: amounts falling due within one year
(559,440)
(341,192)
Net current assets
1,966,054 
1,387,897 
Total assets less current liabilities
2,299,085 
1,558,725 
Provisions for liabilities
Deferred tax
(63,275)
(31,704)
Net assets
2,235,810 
1,527,021 
Capital and reserves
Called up share capital
164 
123 
Capital redemption reserve
41 
41 
Profit and loss account
2,235,605 
1,526,857 
Shareholders' funds
2,235,810 
1,527,021 
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 directors acknowledge their 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 of Directors and authorised for issue on 27 July 2023 and were signed on its behalf by
Stephen Andrews Director Company Registration No. 06788136
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Fibretech UK Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Fibretech UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 06788136. The registered office is Unit 5 2M Trade Park, Beddow Way, Aylesford, Kent, ME20 7BT, England.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost
Plant & machinery
25% on cost
Motor vehicles
25% on cost
Fixtures & fittings
25% on cost
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Fibretech UK Ltd Notes to the Accounts for the year ended 31 March 2023
Taxation
Taxation for the year comprises current and deferred tax. tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Current or deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
14,460 
430,149 
413,869 
37,507 
895,985 
Additions
- 
104,705 
235,935 
1,352 
341,992 
Disposals
(10,549)
(16,300)
(3,700)
- 
(30,549)
At 31 March 2023
3,911 
518,554 
646,104 
38,859 
1,207,428 
Depreciation
At 1 April 2022
10,548 
388,556 
290,945 
35,108 
725,157 
Charge for the year
652 
45,149 
124,956 
681 
171,438 
On disposals
(10,549)
(7,949)
(3,700)
- 
(22,198)
At 31 March 2023
651 
425,756 
412,201 
35,789 
874,397 
Net book value
At 31 March 2023
3,260 
92,798 
233,903 
3,070 
333,031 
At 31 March 2022
3,912 
41,593 
122,924 
2,399 
170,828 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
41,294 
21,907 
Trade debtors
623,282 
346,837 
Accrued income and prepayments
77,316 
117,549 
Other debtors
196,259 
83,891 
938,151 
570,184 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
36,057 
5,277 
Taxes and social security
238,074 
151,102 
Other creditors
32,152 
10,980 
Accruals
253,157 
173,833 
559,440 
341,192 
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Fibretech UK Ltd Notes to the Accounts for the year ended 31 March 2023
7
Average number of employees
During the year the average number of employees was 40 (2022: 33).
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