2022-11-012023-10-312023-10-31false08720141FB &C 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FB &C Ltd

Registered Number
08720141
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

FB &C Ltd
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

FORSYTHE, Oliver

Registered Address

Dalton House
60 Windsor Avenue
London
SW19 2RR

Registered Number

08720141 (England and Wales)
FB &C Ltd
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors4,51,246,4991,239,255
Cash at bank and on hand127,008131,240
1,373,5071,370,495
Creditors amounts falling due within one year6(166,257)(181,247)
Net current assets (liabilities)1,207,2501,189,248
Total assets less current liabilities1,207,2501,189,248
Net assets1,207,2501,189,248
Capital and reserves
Called up share capital100100
Profit and loss account1,207,1501,189,148
Shareholders' funds1,207,2501,189,248
The financial statements were approved and authorised for issue by the Director on 29 July 2024, and are signed on its behalf by:
FORSYTHE, Oliver
Director
Registered Company No. 08720141
FB &C Ltd
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment3
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 November 223586,2026,560
At 31 October 233586,2026,560
Depreciation and impairment
At 01 November 223586,2026,560
At 31 October 233586,2026,560
Net book value
At 31 October 23---
At 31 October 22---
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables12,7363,460
Other debtors269,950271,609
Prepayments and accrued income-149
Total282,686275,218
5.Debtors: amounts due after one year

2023

2022

££
Other debtors963,812964,036
Total963,812964,036
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables52,78863,962
Other creditors112,477113,326
Accrued liabilities and deferred income9923,959
Total166,257181,247
7.Related party transactions
During the year the company entered into the following transactions with related parties: Jackson & Forsythe Ltd A company incorporated in the UK, of which the director is a shareholder. In 2020, a loan was made to Jackson & Forsythe Ltd, the outstanding balance at the year end of £963,812 (2022: £964,036) is included within other loans. The loan has no fixed repayment term. Interest is being charged on the loan at 5%.