Company registration number 09318965 (England and Wales)
F&S TRANSFORMERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
F&S TRANSFORMERS LTD
COMPANY INFORMATION
Director
Mr P H D Chappell
Company number
09318965
Registered office
Suite 2
St. Margarets Park Pengam Road
Aberbargoed
Bargoed
Mid Glamorgan
Wales
CF81 9FW
Accountants
Bush & Co Limited
2 Barnfield Crescent
Exeter
EX1 1QT
F&S TRANSFORMERS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
F&S TRANSFORMERS LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
134
166
Current assets
Debtors
4
22,489
19,385
Cash at bank and in hand
565
3,510
23,054
22,895
Creditors: amounts falling due within one year
5
(21,258)
(14,019)
Net current assets
1,796
8,876
Total assets less current liabilities
1,930
9,042
Creditors: amounts falling due after more than one year
6
(5,198)
(8,225)
Net (liabilities)/assets
(3,268)
817
Capital and reserves
Called up share capital
1
1
Retained earnings
(3,269)
816
Total equity
(3,268)
817
F&S TRANSFORMERS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 21 August 2024
Mr P H D Chappell
Director
Company Registration No. 09318965
F&S TRANSFORMERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

F&S Transformers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Suite 2, St. Margarets Park Pengam Road, Aberbargoed, Bargoed, Mid Glamorgan, Wales, CF81 9FW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

F&S TRANSFORMERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
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.

 

Basic financial instruments are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts/payments discounted at a market rate of interest. Financial instruments classified as receivable or payable within one year are not amortised.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
F&S TRANSFORMERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 and 30 November 2023
1,000
Depreciation and impairment
At 1 December 2022
833
Depreciation charged in the year
33
At 30 November 2023
866
Carrying amount
At 30 November 2023
134
At 30 November 2022
166
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
21,761
18,412
Other debtors
728
973
22,489
19,385
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,027
2,952
Trade creditors
1,806
104
Taxation and social security
1,152
1,995
Other creditors
15,273
8,968
21,258
14,019
F&S TRANSFORMERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
5,198
8,225
7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
-
0
8,067
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