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REGISTERED NUMBER: 05825732 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 OCTOBER 2023

FOR

FUSION BUSINESS SOLUTIONS LIMITED

FUSION BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05825732)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FUSION BUSINESS SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 OCTOBER 2023







DIRECTORS: S R J Birch
Mrs K Birch





SECRETARY: S R J Birch





REGISTERED OFFICE: First Floor Unit A
Cedar Court Office Park
Denby Dale Road
Wakefield
West Yorkshire
WF4 3FU





REGISTERED NUMBER: 05825732 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

FUSION BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05825732)

STATEMENT OF FINANCIAL POSITION
29 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 27,909 34,855

CURRENT ASSETS
Debtors 6 842,042 563,445
Prepayments and accrued income 88,576 45,345
Cash at bank and in hand 48,398 156,515
979,016 765,305
CREDITORS
Amounts falling due within one year 7 (253,292 ) (174,804 )
NET CURRENT ASSETS 725,724 590,501
TOTAL ASSETS LESS CURRENT
LIABILITIES

753,633

625,356

CREDITORS
Amounts falling due after more than one
year

8

(102,375

)

-

ACCRUALS AND DEFERRED INCOME (612,733 ) (438,430 )
NET ASSETS 38,525 186,926

CAPITAL AND RESERVES
Called up share capital 3 1
Retained earnings 38,522 186,925
SHAREHOLDERS' FUNDS 38,525 186,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 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.

FUSION BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05825732)

STATEMENT OF FINANCIAL POSITION - continued
29 OCTOBER 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 29 July 2024 and were signed on its behalf by:




Mrs K Birch - Director



S R J Birch - Director


FUSION BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05825732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2023

1. STATUTORY INFORMATION

Fusion Business Solutions Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05825732 and the registered office address is First Floor, Unit A Cedar Court Office Park, Denby Dale Road, Wakefield, England, WF4 3FU.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102. "The Financial reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Functional currency
The financial statements are prepared in sterling which is the functional currency of the company.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partly completed at the balance sheet date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Vehicles, plant and machinery and fixtures and fittings are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on assets is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:


Plant & Machinery-25% on straight line basis

Motor Vehicles

-
25% on reducing balance
basis

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in other operating income.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


FUSION BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05825732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2023

3. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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.

Significant judgements and estimates
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 24 ) .

FUSION BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05825732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 30 October 2022 97,588 15,500 113,088
Additions 7,434 - 7,434
At 29 October 2023 105,022 15,500 120,522
DEPRECIATION
At 30 October 2022 73,389 4,844 78,233
Charge for year 11,716 2,664 14,380
At 29 October 2023 85,105 7,508 92,613
NET BOOK VALUE
At 29 October 2023 19,917 7,992 27,909
At 29 October 2022 24,199 10,656 34,855

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 160,863 86,544
Amounts owed by associates 434,174 243,115
Other debtors 247,005 233,786
842,042 563,445

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 129,979 59,772
Taxation and social security 82,937 114,295
Other creditors 40,376 737
253,292 174,804

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 102,375 -

9. OTHER FINANCIAL COMMITMENTS

The company has total future operating lease commitments of £17,775 (2022: £53,325).

FUSION BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05825732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 October 2023 and 29 October 2022:

2023 2022
£    £   
Mrs K Birch and S R J Birch
Balance outstanding at start of year 204,279 210,464
Amounts advanced 81,616 69,439
Amounts repaid (75,624 ) (75,624 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 210,271 204,279

11. GOING CONCERN

The directors are responsible for 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.

As such the fundamental accounting concept relating to "Going Concern" has been considered when preparing these financial statements.

The directors can confirm that the company has secured new investors meaning that the financial statements can be prepared under the "Going Concern" principles as defined under FRS 102 1A and the Companies Act 2006 applicable to the small companies regime.