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Registration number: 07262038

Fellbond Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Fellbond Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Fellbond Limited

Company Information
__________________________________________________________________________

Director

Mr Jeremy Miller

Registered office

342 Regents Park Road
Finchley
London
N3 2LJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Fellbond Limited

(Registration number: 07262038)
Balance Sheet as at 31 May 2023
__________________________________________________________________________

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

410,000

410,000

Current assets

 

Debtors

4

5,000

5,000

Cash at bank and in hand

 

70,295

51,882

 

75,295

56,882

Creditors: Amounts falling due within one year

5

(126,654)

(105,647)

Net current liabilities

 

(51,359)

(48,765)

Total assets less current liabilities

 

358,641

361,235

Creditors: Amounts falling due after more than one year

5

(2,197)

(2,874)

Net assets

 

356,444

358,361

Capital and reserves

 

Called up share capital

6

100

100

Capital redemption reserve

234,000

234,000

Revaluation reserve

118,462

118,462

Retained earnings

3,882

5,799

Shareholders' funds

 

356,444

358,361

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 20 February 2024
 

 

Fellbond Limited

(Registration number: 07262038)
Balance Sheet as at 31 May 2023
__________________________________________________________________________

.........................................
Mr Jeremy Miller
Director

 

Fellbond Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
__________________________________________________________________________

1

Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Freehold property

Zero

 

Fellbond Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
__________________________________________________________________________

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Fellbond Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
__________________________________________________________________________

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2022

410,000

410,000

At 31 May 2023

410,000

410,000

Depreciation

Carrying amount

At 31 May 2023

410,000

410,000

At 31 May 2022

410,000

410,000

Included within the net book value of land and buildings above is £410,000 (2022 - £410,000) in respect of long leasehold land and buildings.
 

4

Debtors

Current

2023
£

2022
£

Trade debtors

5,000

5,000

 

5,000

5,000

 

Fellbond Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
__________________________________________________________________________

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

373

448

Taxation and social security

1,191

1,191

Other creditors

125,090

104,008

126,654

105,647

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

2,197

2,874

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share capital of £1 each

100

100

100

100

         

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

17,436

17,436

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,197

2,874

 

Fellbond Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
__________________________________________________________________________