REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 27 May 2022 to 31 May 2023 |
for |
Fapco Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 27 May 2022 to 31 May 2023 |
for |
Fapco Ltd |
Fapco Ltd (Registered number: 14137452) |
Contents of the Financial Statements |
for the Period 27 May 2022 to 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Fapco Ltd |
Company Information |
for the Period 27 May 2022 to 31 May 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Fapco Ltd (Registered number: 14137452) |
Balance Sheet |
31 May 2023 |
Notes | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Retained earnings |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Fapco Ltd (Registered number: 14137452) |
Notes to the Financial Statements |
for the Period 27 May 2022 to 31 May 2023 |
1. | STATUTORY INFORMATION |
Fapco Ltd is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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. |
The company's functional and presentational currency is pound sterling. |
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 |
GOING CONCERN |
The financial statements have been prepared on a going concern basis. |
REVENUE RECOGNITION |
Turnover represents rents receivable, which are recognised in the accounting period to which they relate. |
The company recognises turnover 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. |
TURNOVER |
Turnover 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 |
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over |
their estimated useful lives, as follows |
Asset class Depreciation method and rate |
Plant & Machinery 25% reducing balance basis |
TAXATION |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Fapco Ltd (Registered number: 14137452) |
Notes to the Financial Statements - continued |
for the Period 27 May 2022 to 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
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. |
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. |
DIVIDENDS |
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 May 2023 |
DEPRECIATION |
Charge for period |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
Fapco Ltd (Registered number: 14137452) |
Notes to the Financial Statements - continued |
for the Period 27 May 2022 to 31 May 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Taxation and social security |