Registered number
05474938
FCM Associates Ltd
Filleted Accounts
30 June 2024
FCM Associates Ltd
Registered number: 05474938
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 113 133
Current assets
Debtors 4 15,015 24,630
Cash at bank and in hand 16,308 7,531
31,323 32,161
Creditors: amounts falling due within one year 5 (23,441) (18,735)
Net current assets 7,882 13,426
Net assets 7,995 13,559
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,895 13,459
Shareholder's funds 7,995 13,559
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 her 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.
Mrs K L McElroy
Director
Approved by the board on 5 August 2024
FCM Associates Ltd
Notes to the Accounts
for the year ended 30 June 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:
Computer Equipment over 3 years
Fixtures & fittings 15% RBM
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
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 July 2023 504 7,058 7,562
At 30 June 2024 504 7,058 7,562
Depreciation
At 1 July 2023 371 7,058 7,429
Charge for the year 20 - 20
At 30 June 2024 391 7,058 7,449
Net book value
At 30 June 2024 113 - 113
At 30 June 2023 133 - 133
4 Debtors 2024 2023
£ £
Trade debtors 14,937 20,709
Other debtors 78 3,921
15,015 24,630
5 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - 4,955
Taxation and social security costs 6,004 6,893
Other creditors 17,437 6,887
23,441 18,735
6 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs K L McElroy
Directors Loan Account 5,108 (880) 2,874 7,102
5,108 (880) 2,874 7,102
7 Controlling party
The company is controlled by the director by vitue of her shareholding.
8 Other information
FCM Associates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
17 Wheatley Lane
Burton upon Trent
Staffordshire
DE15 0DX
FCM Associates Ltd 05474938 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2024 Mrs K L McElroy No description of principal activity 05474938 2022-07-01 2023-06-30 05474938 core:WithinOneYear 2023-06-30 05474938 core:ShareCapital 2023-06-30 05474938 core:RetainedEarningsAccumulatedLosses 2023-06-30 05474938 2023-07-01 2024-06-30 05474938 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05474938 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 05474938 bus:Director40 2023-07-01 2024-06-30 05474938 1 2023-07-01 2024-06-30 05474938 2 2023-07-01 2024-06-30 05474938 core:PlantMachinery 2023-07-01 2024-06-30 05474938 core:Vehicles 2023-07-01 2024-06-30 05474938 bus:Director1 2023-07-01 2024-06-30 05474938 bus:Director1 1 2023-07-01 2024-06-30 05474938 countries:England 2023-07-01 2024-06-30 05474938 bus:FRS102 2023-07-01 2024-06-30 05474938 bus:FilletedAccounts 2023-07-01 2024-06-30 05474938 2024-06-30 05474938 core:WithinOneYear 2024-06-30 05474938 core:ShareCapital 2024-06-30 05474938 core:RetainedEarningsAccumulatedLosses 2024-06-30 05474938 core:PlantMachinery 2024-06-30 05474938 core:Vehicles 2024-06-30 05474938 bus:Director1 1 2024-06-30 05474938 2023-06-30 05474938 core:PlantMachinery 2023-06-30 05474938 core:Vehicles 2023-06-30 05474938 bus:Director1 1 2023-06-30 iso4217:GBP xbrli:pure