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Registration number: 14465040

FP Cardiff Limited

Annual Report and Unaudited Financial Statements

for the Period from 7 November 2022 to 31 March 2024

 

FP Cardiff Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

FP Cardiff Limited

Company Information

Directors

T O Gape

N Whitcomb

Registered office

40 Winterstoke Road
Bristol
BS3 2NW

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

FP Cardiff Limited

(Registration number: 14465040)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

319,373

Tangible assets

5

632,791

 

952,164

Current assets

 

Debtors

6

126,376

Cash at bank and in hand

 

84,084

 

210,460

Creditors: Amounts falling due within one year

7

(189,677)

Net current assets

 

20,783

Total assets less current liabilities

 

972,947

Creditors: Amounts falling due after more than one year

7

(1,050,000)

Net liabilities

 

(77,053)

Capital and reserves

 

Called up share capital

8

2

Retained earnings

(77,055)

Shareholders' deficit

 

(77,053)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

FP Cardiff Limited

(Registration number: 14465040)
Balance Sheet as at 31 March 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 

T O Gape
Director

N Whitcomb
Director

 
     
 

FP Cardiff Limited

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
40 Winterstoke Road
Bristol
BS3 2NW

The principal place of business is:
Freemans Parc
Units D&E 236 Penarth Road
Cardiff
CF11 8EQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued support of the directors to meet the ongoing liabilities as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

FP Cardiff Limited

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Climbing equipment, fixtures and fittings

10% Straight Line

Computer equipment

20% Straight Line

Leasehold improvements

6.66% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 18.

 

FP Cardiff Limited

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

364,998

364,998

At 31 March 2024

364,998

364,998

Amortisation

Amortisation charge

45,625

45,625

At 31 March 2024

45,625

45,625

Carrying amount

At 31 March 2024

319,373

319,373

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

22,023

3,472

695,098

720,593

At 31 March 2024

22,023

3,472

695,098

720,593

Depreciation

Charge for the period

1,346

569

85,887

87,802

At 31 March 2024

1,346

569

85,887

87,802

Carrying amount

At 31 March 2024

20,677

2,903

609,211

632,791

Included within the net book value of land and buildings above is £20,677 in respect of long leasehold land and buildings.
 

 

FP Cardiff Limited

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 31 March 2024

6

Debtors

Current

Note

2024
£

Trade debtors

 

13,677

Amounts owed by related parties

9

38,023

Prepayments

 

74,674

Other debtors

 

2

   

126,376

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Trade creditors

 

20,946

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

38,909

Taxation and social security

 

30,403

Accruals and deferred income

 

82,077

Other creditors

 

17,342

 

189,677

Creditors: amounts falling due after more than one year

2024
£

Due after one year

Other non-current financial liabilities

1,050,000

Creditors include loans which are secured of £1,050,000.

 

FP Cardiff Limited

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary of £1 each

2

2

     

9

Related party transactions

As at the reporting date amounts owed from companies under the control of the directors totalled £38,023 and amounts owed to companies under the control of the directors totalled £38,909.

The company owed a balance of £1,050,000 to close family members of one of the directors and this balance is accruing interest at 8.25%.