Registered number
09478594
Fusion Electrical Solutions Ltd
Filleted Accounts
31 March 2024
Fusion Electrical Solutions Ltd
Registered number: 09478594
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,506 31,612
Current assets
Stocks 4 6,146 5,223
Cash at bank and in hand 34,111 26,241
40,257 31,464
Creditors: amounts falling due within one year 5 (4,715) (8,099)
Net current assets 35,542 23,365
Total assets less current liabilities 65,048 54,977
Creditors: amounts falling due after more than one year 6 (49,001) (58,839)
Net assets/(liabilities) 16,047 (3,862)
Capital and reserves
Called up share capital 2 2
Profit and loss account 16,045 (3,864)
Shareholder's funds 16,047 (3,862)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
E Lynn
Director
Approved by the board on 25 April 2024
Fusion Electrical Solutions Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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 work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,150 44,957 46,107
At 31 March 2024 1,150 44,957 46,107
Depreciation
At 1 April 2023 516 13,979 14,495
Charge for the year 106 2,000 2,106
At 31 March 2024 622 15,979 16,601
Net book value
At 31 March 2024 528 28,978 29,506
At 31 March 2023 634 30,978 31,612
4 Debtors 2024 2023
£ £
Trade debtors 1,746 823
Other debtors 4,400 4,400
6,146 5,223
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,000 10,791
Obligations under finance lease and hire purchase contracts 3,472 -
Taxation and social security costs 9,424 4,782
Other creditors (19,181) (7,474)
4,715 8,099
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,562 35,526
Obligations under finance lease and hire purchase contracts 18,439 23,313
49,001 58,839
7 Other information
Fusion Electrical Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Holly House
Copthorne Bank
Copthorne
RH10 3JH
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