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REGISTERED NUMBER: NI031486 (Northern Ireland)















Financial Statements

for the Year Ended 31 December 2023

for

FUM Limited

FUM Limited (Registered number: NI031486)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FUM Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr Russell Shackelton Adamson
Mrs Denise Margaret Adamson
Mr Paul Michael Shannon Adamson



SECRETARY: Mrs Denise Margaret Adamson



REGISTERED OFFICE: Erwin House
18-22 Church Road
Holywood
Co. Down
BT18 9BU



REGISTERED NUMBER: NI031486 (Northern Ireland)



ACCOUNTANTS: McCleary & Company Ltd
Chartered Accountants
Garvey Studios
14 Longstone Street
Lisburn
Co. Antrim
BT28 1TP



BANKERS: First Trust Bank
85 Main Street
Bangor
Co. Down
BT20 4BA

FUM Limited (Registered number: NI031486)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 21,283 23,590

CURRENT ASSETS
Debtors 5 130,402 120,379
Cash at bank and in hand 387,348 439,464
517,750 559,843
CREDITORS
Amounts falling due within one year 6 (75,058 ) (117,533 )
NET CURRENT ASSETS 442,692 442,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

463,975

465,900

PROVISIONS FOR LIABILITIES (2,296 ) (2,479 )
NET ASSETS 461,679 463,421

CAPITAL AND RESERVES
Called up share capital 42,858 42,858
Capital redemption reserve 17,142 17,142
Retained earnings 401,679 403,421
461,679 463,421

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

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

FUM Limited (Registered number: NI031486)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2024 and were signed on its behalf by:





Mr Paul Michael Shannon Adamson - Director


FUM Limited (Registered number: NI031486)

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

1. STATUTORY INFORMATION

FUM Limited is a private company, limited by shares , registered in Northern Ireland. 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 represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 20% 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.

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.

FUM Limited (Registered number: NI031486)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 49 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 12,640 62,583 75,223
Additions - 2,024 2,024
At 31 December 2023 12,640 64,607 77,247
DEPRECIATION
At 1 January 2023 2,528 49,105 51,633
Charge for year 1,264 3,067 4,331
At 31 December 2023 3,792 52,172 55,964
NET BOOK VALUE
At 31 December 2023 8,848 12,435 21,283
At 31 December 2022 10,112 13,478 23,590

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 100,495 119,739
Other debtors 29,907 640
130,402 120,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 472 762
Trade creditors 8 3,425
Taxation and social security 68,644 84,752
Other creditors 5,934 28,594
75,058 117,533

FUM Limited (Registered number: NI031486)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr Paul Michael Shannon Adamson
Balance outstanding at start of year (11,941 ) (8,603 )
Amounts advanced 73,627 79,263
Amounts repaid (47,400 ) (82,601 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,286 (11,941 )

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £56,251 (2022 - £127,405) were paid to the directors .

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the called up share capital.