IRIS Accounts Production v23.3.0.418 SC058111 director 1.7.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0581112022-06-30SC0581112023-06-30SC0581112022-07-012023-06-30SC0581112021-06-30SC0581112021-07-012022-06-30SC0581112022-06-30SC058111ns10:Originalns15:Scotland2022-07-012023-06-30SC058111ns14:PoundSterlingns10:Original2022-07-012023-06-30SC058111ns10:Originalns10:Director12022-07-012023-06-30SC058111ns10:Original2022-07-012023-06-30SC058111ns10:Original2023-06-30SC058111ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-30SC058111ns10:Originalns10:SmallEntities2022-07-012023-06-30SC058111ns10:Originalns10:AuditExemptWithAccountantsReport2022-07-012023-06-30SC058111ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-30SC058111ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-30SC058111ns10:Originalns10:AbridgedAccounts2022-07-012023-06-30SC058111ns10:CompanySecretary1ns10:Original2022-07-012023-06-30SC058111ns10:Originalns10:RegisteredOffice2022-07-012023-06-30SC058111ns10:Original2022-06-30SC058111ns10:Originalns5:CurrentFinancialInstruments2023-06-30SC058111ns10:Originalns5:CurrentFinancialInstruments2022-06-30SC058111ns10:Originalns5:Non-currentFinancialInstruments2023-06-30SC058111ns10:Originalns5:Non-currentFinancialInstruments2022-06-30SC058111ns5:ShareCapitalns10:Original2023-06-30SC058111ns5:ShareCapitalns10:Original2022-06-30SC058111ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-30SC058111ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-30SC058111ns10:Originalns5:PlantMachinery2022-07-012023-06-30SC058111ns10:Originalns5:FurnitureFittings2022-07-012023-06-30SC058111ns10:Originalns5:MotorVehicles2022-07-012023-06-30SC058111ns10:Originalns5:ComputerEquipment2022-07-012023-06-30SC058111ns10:Original2021-07-012022-06-30SC058111ns10:Original2022-06-30
REGISTERED NUMBER: SC058111 (Scotland)










Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Fion Construction Limited

Fion Construction Limited (Registered number: SC058111)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Fion Construction Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: R F Dennis





SECRETARY: J A Standen





REGISTERED OFFICE: Unit 30A
Ben Nevis Industrial Estate
FORT WILLIAM
Inverness-shire
PH33 6PR





REGISTERED NUMBER: SC058111 (Scotland)





ACCOUNTANTS: T B Dunn & Co
Ground Floor (part)
8000 Academy Business Park
51 Gower Street
GLASGOW
G51 1PR

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Fion Construction Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fion Construction Limited for the year ended 30 June 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Fion Construction Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fion Construction Limited and state those matters that we have agreed to state to the director of Fion Construction Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Fion Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fion Construction Limited. You consider that Fion Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fion Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






T B Dunn & Co
Ground Floor (part)
8000 Academy Business Park
51 Gower Street
GLASGOW
G51 1PR


5 March 2024

Fion Construction Limited (Registered number: SC058111)

Abridged Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 119,313

CURRENT ASSETS
Debtors 18,114 76,192
Cash at bank and in hand 45,139 120,395
63,253 196,587
CREDITORS
Amounts falling due within one year 351,947 535,804
NET CURRENT LIABILITIES (288,694 ) (339,217 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(288,694

)

(219,904

)

CREDITORS
Amounts falling due after more than one year - 13,870
NET LIABILITIES (288,694 ) (233,774 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (288,994 ) (234,074 )
SHAREHOLDERS' FUNDS (288,694 ) (233,774 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Fion Construction Limited (Registered number: SC058111)

Abridged Balance Sheet - continued
30 June 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 March 2024 and were signed by:





R F Dennis - Director


Fion Construction Limited (Registered number: SC058111)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Fion Construction Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

During the year the company incurred a net loss on ordinary activities after taxation of £54,920 and has net liabilities of £288,694 as at 30 June 2023.

The company is currently being supported by its director, with a balance payable to the director of £321,352 as at 30 June 2023. The director has agreed to provide the company with financial support for the foreseeable future.

On the basis of the continued financial support being provided by the director, the accounts have been prepared under a going concern basis.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although, these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

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 is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


Fion Construction Limited (Registered number: SC058111)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash and deposits with financial institutions repayable without penalty on notice of not more than twenty four hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Fion Construction Limited (Registered number: SC058111)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 249,839
Disposals (249,839 )
At 30 June 2023 -
DEPRECIATION
At 1 July 2022 130,526
Charge for year 10,754
Eliminated on disposal (141,280 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 119,313

5. ULTIMATE CONTROLLING PARTY

The ultimate holding company is Fion Holdings Limited, a company incorporated in Scotland.