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REGISTERED NUMBER: 06405194 (England and Wales)















FUSION INDUSTRIAL LIMITED

Unaudited Financial Statements for the Year Ended 31 October 2023






FUSION INDUSTRIAL LIMITED (REGISTERED NUMBER: 06405194)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FUSION INDUSTRIAL LIMITED

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr T S Holmes
Mr P S Warner





REGISTERED OFFICE: Unit 16 Cannock Industrial Centre
Walkmill Lane
Cannock
Staffordshire
WS11 0LN





REGISTERED NUMBER: 06405194 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

FUSION INDUSTRIAL LIMITED (REGISTERED NUMBER: 06405194)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 170,232 84,508

CURRENT ASSETS
Debtors 5 441,368 810,501
Cash at bank and in hand 157,296 6,816
598,664 817,317
CREDITORS
Amounts falling due within one year 6 322,120 548,380
NET CURRENT ASSETS 276,544 268,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

446,776

353,445

CREDITORS
Amounts falling due after more than one
year

7

(165,005

)

(98,670

)

PROVISIONS FOR LIABILITIES (16,344 ) (9,293 )
NET ASSETS 265,427 245,482

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 265,325 245,380
265,427 245,482

FUSION INDUSTRIAL LIMITED (REGISTERED NUMBER: 06405194)

Balance Sheet - continued
31 October 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 6 February 2024 and were signed on its behalf by:





Mr P S Warner - Director


FUSION INDUSTRIAL LIMITED (REGISTERED NUMBER: 06405194)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Fusion Industrial 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

FUSION INDUSTRIAL LIMITED (REGISTERED NUMBER: 06405194)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 53,557 6,745 195,115 255,417
Additions - - 139,293 139,293
Disposals - - (99,299 ) (99,299 )
At 31 October 2023 53,557 6,745 235,109 295,411
DEPRECIATION
At 1 November 2022 44,210 5,726 120,973 170,909
Charge for year 2,337 253 27,241 29,831
Eliminated on disposal - - (75,561 ) (75,561 )
At 31 October 2023 46,547 5,979 72,653 125,179
NET BOOK VALUE
At 31 October 2023 7,010 766 162,456 170,232
At 31 October 2022 9,347 1,019 74,142 84,508

The net book value of tangible fixed assets includes £ 152,926 (2022 - £ 58,377 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 388,754 727,470
Other debtors 52,614 83,031
441,368 810,501

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 21,765 18,167
Hire purchase contracts 17,117 6,063
Trade creditors 223,889 447,115
Amounts owed to group undertakings 1,090 6,090
Taxation and social security 42,786 53,240
Other creditors 15,473 17,705
322,120 548,380

FUSION INDUSTRIAL LIMITED (REGISTERED NUMBER: 06405194)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 56,375 81,493
Hire purchase contracts 108,630 17,177
165,005 98,670

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 21,765 18,167

Amounts falling due between one and two years:
Bank loans - 1-2 years 22,020 18,167

Amounts falling due between two and five years:
Bank loans - 2-5 years 34,355 63,326

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 78,140 99,660
Hire purchase contracts 125,747 23,240
203,887 122,900

The bank loan are secured by a debenture over the companies assets.

The hire purchase liability is secured against the asset to which the finance relates.