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FUSE LOYALTY LIMITED

(formerly FUSE SUPPLY LIMITED)

Registered Number
13946428
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

FUSE LOYALTY LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

CHANG, King Lun Alan
ORR, Charles James Robert
VENUGOPAL, Deepu

Registered Address

Fuse Energy, Level39 One Canada Square
Canary Wharf
London
E14 5AB

Registered Number

13946428 (England and Wales)
FUSE LOYALTY LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors1001,487
Cash at bank and on hand47,01910,389
47,11911,876
Creditors amounts falling due within one year3(174,181)(18,658)
Net current assets (liabilities)(127,062)(6,782)
Total assets less current liabilities(127,062)(6,782)
Creditors amounts falling due after one year4(32,965)(32,965)
Net assets(160,027)(39,747)
Capital and reserves
Called up share capital100-
Profit and loss account(160,127)(39,747)
Shareholders' funds(160,027)(39,747)
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2024, and are signed on its behalf by:
ORR, Charles James Robert
Director
Registered Company No. 13946428
FUSE LOYALTY LIMITED
Notes to the Financial Statements
for the year ended 31 December 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
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 on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
2.Average number of employees

20232022
Average number of employees during the year00
3.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables46,950-
Bank borrowings and overdrafts5-
Other creditors127,22618,658
Total174,18118,658
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.
4.Creditors: amounts due after one year

2023

2022

££
Amounts owed to related parties32,96532,965
Total32,96532,965
As at 31 December 2023 and 2022, the company owed £32,962 to its ultimate parent Tesseract Laboratories Limited. This amount is not repayable until the company has sufficient funds to repay it.