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REGISTERED NUMBER: SC406549 (Scotland)












Financial Statements for the Year Ended 31 August 2023

for

FIS ENTERPRISES LIMITED

FIS ENTERPRISES LIMITED (REGISTERED NUMBER: SC406549)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIS ENTERPRISES LIMITED

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S E Ferguson
M S Ferguson





REGISTERED OFFICE: Forfar Indoor Sports
Suttieside
Forfar
Angus
DD8 3NG





REGISTERED NUMBER: SC406549 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

FIS ENTERPRISES LIMITED (REGISTERED NUMBER: SC406549)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,872 26,333

CURRENT ASSETS
Stocks 4,335 6,768
Debtors 5 301 301
Cash at bank and in hand 3,470 8,364
8,106 15,433
CREDITORS
Amounts falling due within one year 6 621,530 548,389
NET CURRENT LIABILITIES (613,424 ) (532,956 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(571,552

)

(506,623

)

PROVISIONS FOR LIABILITIES - 2,767
NET LIABILITIES (571,552 ) (509,390 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (571,652 ) (509,490 )
(571,552 ) (509,390 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

FIS ENTERPRISES LIMITED (REGISTERED NUMBER: SC406549)

Balance Sheet - continued
31 August 2023


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





M S Ferguson - Director


FIS ENTERPRISES LIMITED (REGISTERED NUMBER: SC406549)

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

1. STATUTORY INFORMATION

FIS Enterprises 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.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

FIS ENTERPRISES LIMITED (REGISTERED NUMBER: SC406549)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 76,553 58,733 13,735 8,828 157,849
Additions 7,539 20,070 - 6,198 33,807
Disposals - - - (2,703 ) (2,703 )
At 31 August 2023 84,092 78,803 13,735 12,323 188,953
DEPRECIATION
At 1 September 2022 68,813 43,652 13,735 5,316 131,516
Charge for year 4,529 9,775 - 3,742 18,046
Eliminated on disposal - - - (2,481 ) (2,481 )
At 31 August 2023 73,342 53,427 13,735 6,577 147,081
NET BOOK VALUE
At 31 August 2023 10,750 25,376 - 5,746 41,872
At 31 August 2022 7,740 15,081 - 3,512 26,333

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 51 51
Other debtors 250 250
301 301

FIS ENTERPRISES LIMITED (REGISTERED NUMBER: SC406549)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 27,213 32,979
Amounts owed to group undertakings 536,579 439,262
Taxation and social security 2,634 2,415
Other creditors 55,104 73,733
621,530 548,389

7. RELATED PARTY DISCLOSURES

The company was under control of the directors, M S Ferguson and S E Ferguson, and the parent company, Forfar Indoor Sports Ltd who own 100% of the called up share capital throughout the current and previous year. The directors own 100% of the parent company.

Included within other creditors is a balance of £52,366 (2022 - £70,921) which is payable to the directors. No interest is payable on the balance outstanding.

A balance of £398,882 (2022 - £294,345) is outstanding to the parent company Forfar Indoor Sports Ltd.

A balance of £137,697 (2022 - £144,917) is due to The Eatery Ltd. MS Ferguson is the sole director of this company.

No dividends were paid to the directors.