FadalCNC Limited 04218557 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is wholesale of machinery and equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 04218557 2022-12-01 2023-11-30 04218557 2023-11-30 04218557 core:RetainedEarningsAccumulatedLosses 2023-11-30 04218557 core:ShareCapital 2023-11-30 04218557 core:CurrentFinancialInstruments 2023-11-30 04218557 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 04218557 core:OfficeEquipment 2023-11-30 04218557 bus:SmallEntities 2022-12-01 2023-11-30 04218557 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04218557 bus:FilletedAccounts 2022-12-01 2023-11-30 04218557 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 04218557 bus:RegisteredOffice 2022-12-01 2023-11-30 04218557 bus:Director1 2022-12-01 2023-11-30 04218557 bus:Director2 2022-12-01 2023-11-30 04218557 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04218557 core:ComputerEquipment 2022-12-01 2023-11-30 04218557 countries:EnglandWales 2022-12-01 2023-11-30 04218557 2022-11-30 04218557 core:OfficeEquipment 2022-11-30 04218557 2021-12-01 2022-11-30 04218557 2022-11-30 04218557 core:RetainedEarningsAccumulatedLosses 2022-11-30 04218557 core:ShareCapital 2022-11-30 04218557 core:CurrentFinancialInstruments 2022-11-30 04218557 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 04218557

FadalCNC Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

FadalCNC Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

FadalCNC Limited

Company Information

Directors

ZC Burke

J Wenham

Registered office

The Old Stores
Kemerton
Tewkesbury
Gloucestershire
GL20 7JD

Accountants

Clement Rabjohns Limited
111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

FadalCNC Limited

(Registration number: 04218557)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Current assets

 

Stocks

5

13,000

8,000

Debtors

6

12,012

34,441

Cash at bank and in hand

 

2,506

3,265

 

27,518

45,706

Creditors: Amounts falling due within one year

7

(57,847)

(69,871)

Net liabilities

 

(30,329)

(24,165)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(30,331)

(24,167)

Shareholders' deficit

 

(30,329)

(24,165)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

.........................................
J Wenham
Director

 

FadalCNC Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Stores
Kemerton
Tewkesbury
Gloucestershire
GL20 7JD
England

These financial statements were authorised for issue by the Board on 29 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The director has provided funding for the company in the past and current year and has a loan account due included with the current liabilites of the company in the sum of £40.2k. The director has confirmed that this amount will not be repaid within the following counting period and that she will continue to support the company by way of additional funding if required.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

FadalCNC Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33.3% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

FadalCNC Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

179

179

At 30 November 2023

179

179

Depreciation

At 1 December 2022

179

179

At 30 November 2023

179

179

Carrying amount

At 30 November 2023

-

-

5

Stocks

2023
£

2022
£

Other inventories

13,000

8,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

11,628

34,441

Other debtors

384

-

 

12,012

34,441

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

7,556

5,444

Trade creditors

 

9,012

16,333

Taxation and social security

 

-

4,815

Accruals and deferred income

 

1,000

3,000

Other creditors

 

40,279

40,279

 

57,847

69,871

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,556 (2022 - £5,444).

 

FadalCNC Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

7,556

5,444