Registered number: 03001180 | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
Prepared By: | ||||||||
Allan G Hill & Partners | ||||||||
Chenies | ||||||||
Okewood Hill | ||||||||
Dorking | ||||||||
Surrey | ||||||||
RH5 5NB |
Fixings & Powertool Center Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
Surrey | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 03001180 | ||||||||
ACCOUNTANTS | ||||||||
Allan G Hill & Partners | ||||||||
Chenies | ||||||||
Okewood Hill | ||||||||
Dorking | ||||||||
Surrey | ||||||||
RH5 5NB |
Fixings & Powertool Center Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/12/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Strategic Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 5 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Fixings & Powertool Center Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Intangible assets | 3 | |||||||||
Tangible assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
729,307 | 1,559,540 | |||||||||
CREDITORS: Amounts falling due within one year | 7 | |||||||||
NET CURRENT ASSETS | 599,990 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Share premium account | 10 | |||||||||
Profit and loss account | 46,910 | 389,601 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Fixings & Powertool Center Limited | ||||||||
BALANCE SHEET AT | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
............................. | ||||||||||
Fixings & Powertool Center Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Land And Buildings | straight line 10% | |||||||
Plant and Machinery | reducing balance 25% |
1c. Intangible Assets | ||||||||
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1e. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
Fixings & Powertool Center Limited | ||||||||
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 11 | |||||
3. INTANGIBLE FIXED ASSETS | ||||
Development | ||||
Costs | Total | |||
£ | £ | |||
Cost | ||||
At 01/01/2023 | 26,409 | 26,409 | ||
At 31/12/2023 | 26,409 | 26,409 | ||
Depreciation | ||||
At 01/01/2023 | 14,102 | 14,102 | ||
For the year | 3,075 | 3,075 | ||
At 31/12/2023 | 17,177 | 17,177 | ||
Net Book Amounts | ||||
At 31/12/2023 | ||||
At 31/12/2022 | ||||
4. TANGIBLE FIXED ASSETS | ||||||
Land And | Plant and | |||||
Buildings | Machinery | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/01/2023 | 5,439 | 163,360 | 168,799 | |||
Additions | 19,616 | 18,034 | 37,650 | |||
Disposals | - | (12,990) | (12,990) | |||
At 31/12/2023 | 25,055 | 168,404 | 193,459 | |||
Depreciation | ||||||
At 01/01/2023 | 3,831 | 139,164 | 142,995 | |||
Disposals | - | (11,064) | (11,064) | |||
For the year | 3,323 | 10,076 | 13,399 | |||
At 31/12/2023 | 7,154 | 138,176 | 145,330 | |||
Net Book Amounts | ||||||
At 31/12/2023 | 48,129 | |||||
At 31/12/2022 | 25,804 | |||||
Fixings & Powertool Center Limited | ||||||||
5. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
6. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 206,228 | 252,666 | ||||||
Other debtors | 19,300 | 8,521 | ||||||
Amounts due from group companies | - | 809,441 | ||||||
Prepayments | 43,575 | 43,213 | ||||||
Deferred taxation | 2,602 | - | ||||||
271,705 | 1,113,841 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
VAT | 7,631 | 10,480 | ||||||
PAYE control | 10,553 | 5,343 | ||||||
Directors current account | 200,000 | - | ||||||
Bank loans and overdrafts | 3 | - | ||||||
Trade creditors | 282,397 | 358,973 | ||||||
Other creditors | 18,297 | 194,816 | ||||||
Pension schemes | 1,599 | 767 | ||||||
Accruals | 30,778 | 38,643 | ||||||
Amounts due to group companies | - | 350,528 | ||||||
551,258 | 959,550 | |||||||
8. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Deferred taxation | (2,602) | - | ||||||
Fixings & Powertool Center Limited | ||||||||
9. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100000 | 100000 | |||||||
100,000 | 100,000 | |||||||
On 29th September 2023 there was a group restructure. On this date Fixings & Powertools Center Limited ceased to be a member of a group and is now a stand alone company. As part if the restructure £60,000 was transferred from the share premium account to distributable reserves. |
10. SHARE PREMIUM ACCOUNT | 2023 | 2022 | ||||
£ | £ | |||||
Share premium account | 88,500 | 148,500 |
11. CONTROLLING PARTY | ||||||||
The company is controlled by D W Nye by virtue of his interest in the issued share capital. | ||||||||