2022-10-012023-09-302023-09-30false08766807FIBRE OPTIC CONNECTIONS 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FIBRE OPTIC CONNECTIONS LIMITED

Registered Number
08766807
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

FIBRE OPTIC CONNECTIONS LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

ANDREWS, Robert
WALKER, Christopher

Registered Address

Brook Lane Garage
Desford
Leicester
LE9 9LJ

Registered Number

08766807 (England and Wales)
FIBRE OPTIC CONNECTIONS LIMITED
Statement of Financial Position
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3286,580232,434
Investments114,374114,374
400,954346,808
Current assets
Stocks475,396518,825
Debtors1,449,508738,842
Cash at bank and on hand39,955133,033
1,964,8591,390,700
Creditors amounts falling due within one year(576,261)(407,489)
Net current assets (liabilities)1,388,598983,211
Total assets less current liabilities1,789,5521,330,019
Creditors amounts falling due after one year(145,869)(51,986)
Provisions for liabilities(59,618)-
Net assets1,584,0651,278,033
Capital and reserves
Called up share capital44
Profit and loss account1,584,0611,278,029
Shareholders' funds1,584,0651,278,033
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2024, and are signed on its behalf by:
ANDREWS, Robert
Director
WALKER, Christopher
Director

Registered Company No. 08766807
FIBRE OPTIC CONNECTIONS LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year42
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 October 22498,289
Additions134,150
At 30 September 23632,439
Depreciation and impairment
At 01 October 22265,855
Charge for year80,004
At 30 September 23345,859
Net book value
At 30 September 23286,580
At 30 September 22232,434