IRIS Accounts Production v23.4.0.336 06767759 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067677592022-12-31067677592023-12-31067677592023-01-012023-12-31067677592021-12-31067677592022-01-012022-12-31067677592022-12-3106767759ns15:EnglandWales2023-01-012023-12-3106767759ns14:PoundSterling2023-01-012023-12-3106767759ns10:Director12023-01-012023-12-3106767759ns10:Director22023-01-012023-12-3106767759ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106767759ns10:SmallEntities2023-01-012023-12-3106767759ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3106767759ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106767759ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106767759ns10:FullAccounts2023-01-012023-12-310676775912023-01-012023-12-3106767759ns10:CompanySecretary12023-01-012023-12-3106767759ns10:RegisteredOffice2023-01-012023-12-3106767759ns5:CurrentFinancialInstruments2023-12-3106767759ns5:CurrentFinancialInstruments2022-12-3106767759ns5:ShareCapital2023-12-3106767759ns5:ShareCapital2022-12-3106767759ns5:RetainedEarningsAccumulatedLosses2023-12-3106767759ns5:RetainedEarningsAccumulatedLosses2022-12-3106767759ns5:NetGoodwill2023-01-012023-12-3106767759ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106767759ns5:PlantMachinery2023-01-012023-12-3106767759ns5:FurnitureFittings2023-01-012023-12-3106767759ns5:MotorVehicles2023-01-012023-12-3106767759ns5:ComputerEquipment2023-01-012023-12-3106767759ns5:NetGoodwill2022-12-3106767759ns5:NetGoodwill2023-12-3106767759ns5:NetGoodwill2022-12-3106767759ns5:PlantMachinery2022-12-3106767759ns5:FurnitureFittings2022-12-3106767759ns5:MotorVehicles2022-12-3106767759ns5:ComputerEquipment2022-12-3106767759ns5:PlantMachinery2023-12-3106767759ns5:FurnitureFittings2023-12-3106767759ns5:MotorVehicles2023-12-3106767759ns5:ComputerEquipment2023-12-3106767759ns5:PlantMachinery2022-12-3106767759ns5:FurnitureFittings2022-12-3106767759ns5:MotorVehicles2022-12-3106767759ns5:ComputerEquipment2022-12-3106767759ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3106767759ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3106767759ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3106767759ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106767759ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 06767759 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Fosco (UK) Limited

Fosco (UK) Limited (Registered number: 06767759)






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


Fosco (UK) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Forrest
Mrs R Forrest





SECRETARY: Mrs R Forrest





REGISTERED OFFICE: Basin Cottage
Canal Lane
Doncaster
South Yorkshire
DN10 4ET





REGISTERED NUMBER: 06767759 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

Fosco (UK) Limited (Registered number: 06767759)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 19,424 19,756
19,424 19,756

CURRENT ASSETS
Stocks 6 42,000 84,000
Debtors 7 33,423 60,985
Cash at bank 240,930 191,697
316,353 336,682
CREDITORS
Amounts falling due within one year 8 65,751 54,188
NET CURRENT ASSETS 250,602 282,494
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,026

302,250

PROVISIONS FOR LIABILITIES 3,691 3,753
NET ASSETS 266,335 298,497

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 266,332 298,494
SHAREHOLDERS' FUNDS 266,335 298,497

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.

Fosco (UK) Limited (Registered number: 06767759)

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 31 March 2024 and were signed on its behalf by:




Mrs R Forrest - Director



R Forrest - Director


Fosco (UK) Limited (Registered number: 06767759)

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

1. STATUTORY INFORMATION

Fosco (UK) 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 represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Fosco (UK) Limited (Registered number: 06767759)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 20,000
AMORTISATION
At 1 January 2023
and 31 December 2023 20,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 15,302 9,555 60,762 5,301 90,920
Additions 2,000 2,059 1,420 - 5,479
At 31 December 2023 17,302 11,614 62,182 5,301 96,399
DEPRECIATION
At 1 January 2023 12,044 8,644 46,912 3,564 71,164
Charge for year 1,052 594 3,817 348 5,811
At 31 December 2023 13,096 9,238 50,729 3,912 76,975
NET BOOK VALUE
At 31 December 2023 4,206 2,376 11,453 1,389 19,424
At 31 December 2022 3,258 911 13,850 1,737 19,756

Fosco (UK) Limited (Registered number: 06767759)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 30,158
Transfer to ownership (30,158 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 20,616
Transfer to ownership (20,616 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 9,542

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 22,000 32,000
Work in progress 20,000 52,000
42,000 84,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 32,195 58,426
Prepayments 1,228 2,559
33,423 60,985

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts - 1,736
Trade creditors 14,762 2,067
Corporation tax 8,939 46,219
Social security and other taxes - 300
VAT 2,038 2,102
Directors' current accounts 39,012 164
Accrued expenses 1,000 1,600
65,751 54,188

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £70,000 (2022 - £113,500) were paid to the directors .

Fosco (UK) Limited (Registered number: 06767759)

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

10. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.