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
Fibretech UK Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
333,031
170,828
Cash at bank and in hand
1,573,103
1,129,469
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
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
Fibretech UK Ltd
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 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.
Fibretech UK Ltd
Notes to the Accounts
for the year ended 31 March 2023
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
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
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
Amounts falling due within one year
Trade debtors
623,282
346,837
Accrued income and prepayments
77,316
117,549
Other debtors
196,259
83,891
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
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).