Fumoney Ltd 13215582 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of Retail sale via mail order houses or via Internet Digita Accounts Production Advanced 6.30.9574.0 true 13215582 2022-03-01 2023-02-28 13215582 2023-02-28 13215582 bus:OrdinaryShareClass1 bus:OtherShareType 2023-02-28 13215582 core:CurrentFinancialInstruments 2023-02-28 13215582 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13215582 bus:SmallEntities 2022-03-01 2023-02-28 13215582 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13215582 bus:FullAccounts 2022-03-01 2023-02-28 13215582 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13215582 bus:RegisteredOffice 2022-03-01 2023-02-28 13215582 bus:Director1 2022-03-01 2023-02-28 13215582 bus:Director2 2022-03-01 2023-02-28 13215582 bus:OrdinaryShareClass1 bus:OtherShareType 2022-03-01 2023-02-28 13215582 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13215582 countries:EnglandWales 2022-03-01 2023-02-28 13215582 2021-03-01 2022-02-28 13215582 2022-02-28 13215582 bus:OrdinaryShareClass1 bus:OtherShareType 2022-02-28 13215582 core:CurrentFinancialInstruments 2022-02-28 13215582 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13215582

Fumoney Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Fumoney Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Fumoney Ltd

Company Information

Directors

Mr Matthew Stuart Edge

Mr Tyler Ball

Registered office

The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Fumoney Ltd

(Registration number: 13215582)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

191,104

-

Debtors

5

772

100

Cash at bank and in hand

 

69,606

-

 

261,482

100

Creditors: Amounts falling due within one year

6

(539,649)

-

Net (liabilities)/assets

 

(278,167)

100

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(278,267)

-

Shareholders' (deficit)/funds

 

(278,167)

100

For the financial year ending 28 February 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 November 2023 and signed on its behalf by:
 

.........................................
Mr Matthew Stuart Edge
Director

.........................................
Mr Tyler Ball
Director

 

Fumoney Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS
United Kingdom

These financial statements were authorised for issue by the Board on 24 November 2023.

The company registration number is 13215582

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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

Fumoney Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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 initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Stocks

2023
£

2022
£

Other inventories

191,104

-

 

Fumoney Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

54

-

Other debtors

718

100

 

772

100

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

99,492

-

Trade creditors

 

164,404

-

Taxation and social security

 

81,600

-

Accruals and deferred income

 

990

-

Other creditors

 

193,163

-

 

539,649

-

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

99,492

-