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COMPANY REGISTRATION NUMBER: SC740403
Fergman Pacific Engineers LTD
Unaudited Financial Statements
31 August 2023
Fergman Pacific Engineers LTD
Director's Report
Period from 4 August 2022 to 31 August 2023
The director presents his report and the unaudited financial statements of the company for the period ended 31 August 2023 .
Principal activities
The principal activity of the company during the year was engineering consultant.
Director
The director who served the company during the period was as follows:
F D Agyeman
(Appointed 4 August 2022)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 20 August 2024 and signed on behalf of the board by:
F D Agyeman
Director
Registered office:
94 Great Northern Road, Aberdeen,
Scotland
AB24 3QB
Fergman Pacific Engineers LTD
Income Statement
Period from 4 August 2022 to 31 August 2023
Period from
4 Aug 22 to
31 Aug 23
Note
£
Turnover
4
18,031
Cost of sales
9,100
--------
Gross profit
8,931
Administrative expenses
10,517
--------
Operating loss
( 1,586)
--------
Loss before taxation
( 1,586)
Tax on loss
-------
Loss for the financial period
( 1,586)
-------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the period as set out above.
Fergman Pacific Engineers LTD
Statement of Financial Position
31 August 2023
31 Aug 23
Note
£
Current assets
Debtors
5
2,250
Cash at bank and in hand
615
-------
2,865
Creditors: amounts falling due within one year
6
4,450
-------
Net current liabilities
1,585
-------
Total assets less current liabilities
( 1,585)
-------
Net liabilities
( 1,585)
-------
Fergman Pacific Engineers LTD
Statement of Financial Position (continued)
31 August 2023
31 Aug 23
Note
£
Capital and reserves
Called up share capital
7
1
Profit and loss account
( 1,586)
-------
Shareholders deficit
( 1,585)
-------
For the period ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 20 August 2024 , and are signed on behalf of the board by:
F D Agyeman
Director
Company registration number: SC740403
Fergman Pacific Engineers LTD
Statement of Cash Flows
Period from 4 August 2022 to 31 August 2023
31 Aug 23
£
Cash flows from operating activities
Loss for the financial period
( 1,586)
Adjustments for:
Accrued expenses
1,700
Changes in:
Trade and other debtors
( 2,250)
-------
Cash generated from operations
( 2,136)
-------
Net cash used in operating activities
( 2,136)
-------
Cash flows from financing activities
Proceeds from issue of ordinary shares
1
Proceeds from borrowings
2,750
-------
Net cash from financing activities
2,751
-------
Net increase in cash and cash equivalents
615
Cash and cash equivalents at beginning of period
----
Cash and cash equivalents at end of period
615
----
Fergman Pacific Engineers LTD
Notes to the Financial Statements
Period from 4 August 2022 to 31 August 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 94 Great Northern Road, Aberdeen,, AB24 3QB, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Turnover
Turnover arises from:
Period from
4 Aug 22 to
31 Aug 23
£
Sale of goods
18,031
--------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Debtors
31 Aug 23
£
Trade debtors
2,250
-------
6. Creditors: amounts falling due within one year
31 Aug 23
£
Accruals and deferred income
1,700
Director loan accounts
2,750
-------
4,450
-------
7. Called up share capital
Issued, called up and fully paid
31 Aug 23
No.
£
Ordinary shares of £ 1 each
1
1
----
----
8. Analysis of changes in net debt
At 4 Aug 2022
Cash flows
At 31 Aug 2023
£
£
£
Cash at bank and in hand
615
615
Debt due within one year
(2,750)
(2,750)
----
-------
-------
( 2,135)
( 2,135)
----
-------
-------
9. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
31 Aug 23
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
F D Agyeman
( 2,750)
( 2,750)
----
-------
-------