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REGISTERED NUMBER: 01438050 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

FIBRE & FURNACES LIMITED

FIBRE & FURNACES LIMITED (REGISTERED NUMBER: 01438050)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FIBRE & FURNACES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: S S Allen
M M Allen
M T Allen
Mrs M Allen
A Allen





SECRETARY: M M Allen





REGISTERED OFFICE: Unit 1 Ashville Trading Estate
Ashville Way Sutton Weaver
Runcorn
Cheshire
WA7 3EZ





REGISTERED NUMBER: 01438050 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

FIBRE & FURNACES LIMITED (REGISTERED NUMBER: 01438050)

BALANCE SHEET
31ST AUGUST 2023

31.8.22 31.8.23
£    £    Notes £    £   
FIXED ASSETS
61,021 Tangible assets 4 226,449

CURRENT ASSETS
48,910 Stocks 60,616
437,791 Debtors 5 353,032
39,671 Investments 6 -
20,501 Cash at bank and in hand 101,602
546,873 515,250
CREDITORS
376,400 Amounts falling due within one year 7 473,558
170,473 NET CURRENT ASSETS 41,692
231,494 TOTAL ASSETS LESS CURRENT LIABILITIES 268,141

11,594 PROVISIONS FOR LIABILITIES 9 56,612
219,900 NET ASSETS 211,529

CAPITAL AND RESERVES
170 Called up share capital 170
219,730 Retained earnings 211,359
219,900 SHAREHOLDERS' FUNDS 211,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 28th March 2024 and were signed on its behalf by:





M M Allen - Director


FIBRE & FURNACES LIMITED (REGISTERED NUMBER: 01438050)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Fibre & Furnaces Limited is a private company, limited by shares , registered in England and Wales. 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.

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 etc - 20% on reducing balance and 10% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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

FIBRE & FURNACES LIMITED (REGISTERED NUMBER: 01438050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

2. ACCOUNTING POLICIES - continued

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.

Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably
are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in
equity shares which are not publicly traded and where fair value cannot be measured reliably are
measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest
method. Dividends on equity securities are recognised in income when receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2022 191,565
Additions 217,472
Disposals (52,364 )
At 31st August 2023 356,673
DEPRECIATION
At 1st September 2022 130,544
Charge for year 36,936
Eliminated on disposal (37,256 )
At 31st August 2023 130,224
NET BOOK VALUE
At 31st August 2023 226,449
At 31st August 2022 61,021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 353,032 437,700
Other debtors - 91
353,032 437,791

6. CURRENT ASSET INVESTMENTS
31.8.23 31.8.22
£    £   
Listed investments - 39,671

FIBRE & FURNACES LIMITED (REGISTERED NUMBER: 01438050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 71,278 135,597
Taxation and social security 47,757 5,535
Other creditors 354,523 235,268
473,558 376,400

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 20,000 20,000

9. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax 56,612 11,594

Deferred
tax
£   
Balance at 1st September 2022 11,594
Provided during year 45,018
Balance at 31st August 2023 56,612