Company registration number 03512160 (England and Wales)
FABRICON PRECISION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
FABRICON PRECISION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FABRICON PRECISION LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
2,600
2,601
Current assets
Debtors
5
403,784
529,356
Cash at bank and in hand
320,555
16,413
724,339
545,769
Creditors: amounts falling due within one year
6
(5,200)
(8,116)
Net current assets
719,139
537,653
Net assets
721,739
540,254
Capital and reserves
Called up share capital
83,128
83,128
Share premium account
153,698
153,698
Capital redemption reserve
3,735
3,735
Profit and loss reserves
481,178
299,693
Total equity
721,739
540,254

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 25 January 2024
M E Bushdyhan
Director
Company registration number 03512160 (England and Wales)
FABRICON PRECISION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Company information

Fabricon Precision Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Wellington Centre, Whitelands Road, Ashton-Under-Lyne, Lancashire, OL6 6UY.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
1
1
FABRICON PRECISION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2022 and 31 August 2023
890,621
Amortisation and impairment
At 1 September 2022 and 31 August 2023
890,621
Carrying amount
At 31 August 2023
-
0
At 31 August 2022
-
0
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
2,600
2,601
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 September 2022
2,601
Disposals
(1)
At 31 August 2023
2,600
Carrying amount
At 31 August 2023
2,600
At 31 August 2022
2,601
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
400,453
524,516
Other debtors
3,331
4,840
403,784
529,356
FABRICON PRECISION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,200
7,120
Other creditors
1,000
996
5,200
8,116
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