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REGISTERED NUMBER: 06382780 (England and Wales)















Fce (Wales) Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2023






Fce (Wales) Ltd (Registered number: 06382780)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fce (Wales) Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr S Davies
Mrs S L Davies





SECRETARY: Mrs S L Davies





REGISTERED OFFICE: Wern Farm
Tredunnock
Usk
Newport
Monmouthshire
NP15 1PE





REGISTERED NUMBER: 06382780 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Fce (Wales) Ltd (Registered number: 06382780)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 123,248 162,558
Investment property 5 1,610,000 1,387,297
1,733,248 1,549,855

CURRENT ASSETS
Stocks 528,000 428,000
Debtors 6 578,864 929,280
Cash at bank 41 2,266
1,106,905 1,359,546
CREDITORS
Amounts falling due within one year 7 604,694 804,271
NET CURRENT ASSETS 502,211 555,275
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,235,459

2,105,130

CREDITORS
Amounts falling due after more than one year 8 (431,704 ) (252,446 )

PROVISIONS FOR LIABILITIES (108,562 ) (128,624 )
NET ASSETS 1,695,193 1,724,060

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Non distributable reserve 10 993,679 993,679
Retained earnings 700,314 729,181
SHAREHOLDERS' FUNDS 1,695,193 1,724,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Fce (Wales) Ltd (Registered number: 06382780)

Balance Sheet - continued
30 September 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 16 April 2024 and were signed on its behalf by:





Mr S Davies - Director


Fce (Wales) Ltd (Registered number: 06382780)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Fce (Wales) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the estimated contract costs.

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

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

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.

Fce (Wales) Ltd (Registered number: 06382780)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2022 330,071 33,315 88,994 452,380
Additions - - 77,295 77,295
Disposals (108,745 ) - (74,829 ) (183,574 )
At 30 September 2023 221,326 33,315 91,460 346,101
DEPRECIATION
At 1 October 2022 209,180 30,739 49,903 289,822
Charge for year 28,923 664 15,410 44,997
Eliminated on disposal (77,391 ) - (34,575 ) (111,966 )
At 30 September 2023 160,712 31,403 30,738 222,853
NET BOOK VALUE
At 30 September 2023 60,614 1,912 60,722 123,248
At 30 September 2022 120,891 2,576 39,091 162,558

Fce (Wales) Ltd (Registered number: 06382780)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2022 230,773 88,994 319,767
Additions - 77,295 77,295
Disposals (108,745 ) (74,829 ) (183,574 )
At 30 September 2023 122,028 91,460 213,488
DEPRECIATION
At 1 October 2022 130,945 49,903 180,848
Charge for year 24,406 15,410 39,816
Eliminated on disposal (77,391 ) (34,575 ) (111,966 )
At 30 September 2023 77,960 30,738 108,698
NET BOOK VALUE
At 30 September 2023 44,068 60,722 104,790
At 30 September 2022 99,828 39,091 138,919

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 1,387,297
Additions 325,000
Disposals (102,297 )
At 30 September 2023 1,610,000
NET BOOK VALUE
At 30 September 2023 1,610,000
At 30 September 2022 1,387,297

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2022 465,500
Cost 1,144,500
1,610,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 119,104 636,012
Other debtors 459,760 293,268
578,864 929,280

Fce (Wales) Ltd (Registered number: 06382780)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 215,343 126,227
Hire purchase contracts 34,362 51,399
Trade creditors 165,941 160,151
Taxation and social security 109,643 106,143
Other creditors 79,405 360,351
604,694 804,271

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans 403,574 209,016
Hire purchase contracts 28,130 43,430
431,704 252,446

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 187,996 94,434

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank overdrafts 156,113 96,841
Bank loans 462,804 238,402
Hire purchase contracts 62,492 94,829
681,409 430,072

National Westminster bank hold several legal charges over the company's investment properties.

10. RESERVES
Non
distributable
reserve
£   
At 1 October 2022
and 30 September 2023 993,679