Registered number
04596030
F A C S Limited
Filleted Accounts
30 November 2023
F A C S Limited
Registered number: 04596030
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,335 5,780
Current assets
Debtors 4 11,984 17,803
Cash at bank and in hand 65,486 26,165
77,470 43,968
Creditors: amounts falling due within one year 5 (30,155) (28,949)
Net current assets 47,315 15,019
Net assets 51,650 20,799
Capital and reserves
Called up share capital 1 1
Profit and loss account 51,649 20,798
Shareholder's funds 51,650 20,799
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 his 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.
J Ratcliff
Director
Approved by the board on 15 August 2024
F A C S Limited
Notes to the Accounts
for the year ended 30 November 2023
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:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
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.
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.
2 Employees 2023 2022
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 December 2022 1,974 4,200 6,174
At 30 November 2023 1,974 4,200 6,174
Depreciation
At 1 December 2022 394 - 394
Charge for the year 395 1,050 1,445
At 30 November 2023 789 1,050 1,839
Net book value
At 30 November 2023 1,185 3,150 4,335
At 30 November 2022 1,580 4,200 5,780
4 Debtors 2023 2022
£ £
Trade debtors 11,984 17,803
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 6,190 11,124
Taxation and social security costs 22,362 15,255
Other creditors 1,603 2,570
30,155 28,949
6 Other information
F A C S Limited is a private company limited by shares and incorporated in England. Its registered office is:
Temperance House
Langdon Lane
Radway
Warwickshire
CV35 0UQ
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