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Registered Number: 09550802
England and Wales

 

 

 

FASCIA BASE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fascia Base Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Fascia Base Ltd , as a body, in accordance with the terms of our engagement letter dated 29 April 2024. Our work has been undertaken solely to prepare for your approval the accounts of Fascia Base Ltd and state those matters that we have agreed to state to the Board of Directors of Fascia Base Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fascia Base Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fascia Base Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fascia Base Ltd . You consider that Fascia Base Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Fascia Base Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Cygnet Accounting Limited
37 Rossell Drive
Stapleford
Nottingham
NG9 7EG
05 June 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,974    508 
1,974    508 
Current assets      
Stocks 80,000    80,000 
Debtors 10    10 
Cash at bank and in hand 80,886    107,144 
160,896    187,154 
Creditors: amount falling due within one year (138,665)   (159,235)
Net current assets 22,231    27,919 
 
Total assets less current liabilities 24,205    28,427 
Net assets 24,205    28,427 
 

Capital and reserves
     
Called up share capital 502    502 
Profit and loss account 23,703    27,925 
Shareholders' funds 24,205    28,427 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 05 June 2024 and were signed on its behalf by:


-------------------------------
James Harris
Director
-------------------------------
Kerry Ann Loynes
Director
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General Information
Fascia Base Ltd is a private company, limited by shares, registered in England and Wales, registration number 09550802, registration address Charnwood Business Park, Millfields Road, Bilston, West Midlands, WV14 0QJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 15% Straight Line
Fixtures and Fittings 15% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 April 2023 1,500    2,112    3,612 
Additions   1,887    1,887 
Disposals    
At 31 March 2024 1,500    3,999    5,499 
Depreciation
At 01 April 2023 1,500    1,604    3,104 
Charge for year   421    421 
On disposals    
At 31 March 2024 1,500    2,025    3,525 
Net book values
Closing balance as at 31 March 2024   1,974    1,974 
Opening balance as at 01 April 2023   508    508 


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