Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 02939078 Mr Imad Ferzoli Mr Kalpesh Rabheru Mr Imad Ferzoli iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02939078 2022-11-30 02939078 2023-11-30 02939078 2022-12-01 2023-11-30 02939078 frs-core:CurrentFinancialInstruments 2023-11-30 02939078 frs-core:Non-currentFinancialInstruments 2023-11-30 02939078 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 02939078 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02939078 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-30 02939078 frs-core:MotorVehicles 2023-11-30 02939078 frs-core:MotorVehicles 2022-12-01 2023-11-30 02939078 frs-core:MotorVehicles 2022-11-30 02939078 frs-core:PlantMachinery 2023-11-30 02939078 frs-core:PlantMachinery 2022-12-01 2023-11-30 02939078 frs-core:PlantMachinery 2022-11-30 02939078 frs-core:ShareCapital 2023-11-30 02939078 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 02939078 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 02939078 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 02939078 frs-bus:SmallEntities 2022-12-01 2023-11-30 02939078 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 02939078 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 02939078 frs-bus:Director1 2022-12-01 2023-11-30 02939078 frs-bus:Director2 2022-12-01 2023-11-30 02939078 frs-bus:CompanySecretary1 2022-12-01 2023-11-30 02939078 frs-core:CurrentFinancialInstruments 1 2023-11-30 02939078 frs-core:CurrentFinancialInstruments 2 2023-11-30 02939078 frs-core:CurrentFinancialInstruments 3 2023-11-30 02939078 frs-countries:EnglandWales 2022-12-01 2023-11-30 02939078 2021-11-30 02939078 2022-11-30 02939078 2021-12-01 2022-11-30 02939078 frs-core:CurrentFinancialInstruments 2022-11-30 02939078 frs-core:Non-currentFinancialInstruments 2022-11-30 02939078 frs-core:ShareCapital 2022-11-30 02939078 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 02939078 frs-core:CurrentFinancialInstruments 1 2022-11-30 02939078 frs-core:CurrentFinancialInstruments 2 2022-11-30 02939078 frs-core:CurrentFinancialInstruments 3 2022-11-30
Registered number: 02939078
FIKS Trading Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02939078
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 131,486 138,240
131,486 138,240
CURRENT ASSETS
Stocks 5 10,000 -
Cash at bank and in hand 255,373 198,158
265,373 198,158
Creditors: Amounts Falling Due Within One Year 6 (225,196 ) (190,092 )
NET CURRENT ASSETS (LIABILITIES) 40,177 8,066
TOTAL ASSETS LESS CURRENT LIABILITIES 171,663 146,306
Creditors: Amounts Falling Due After More Than One Year 7 (25,633 ) (77,491 )
NET ASSETS 146,030 68,815
CAPITAL AND RESERVES
Called up share capital 8 196 196
Profit and Loss Account 145,834 68,619
SHAREHOLDERS' FUNDS 146,030 68,815
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Imad Ferzoli
Director
1st August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
FIKS Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02939078 . The registered office is Suite 2, Second Floor, 107 Power Road, London, W4 5PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold in accordance with the property
Plant & Machinery 20% net book value
Motor Vehicles straight line over useful life of 8 years
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 5)
3 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 December 2022 100,000 22,583 15,657 138,240
As at 30 November 2023 100,000 22,583 15,657 138,240
Depreciation
As at 1 December 2022 - - - -
Provided during the period - 4,517 2,237 6,754
As at 30 November 2023 - 4,517 2,237 6,754
Net Book Value
As at 30 November 2023 100,000 18,066 13,420 131,486
As at 1 December 2022 100,000 22,583 15,657 138,240
5. Stocks
2023 2022
£ £
Stock 10,000 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1 ) 3,181
Bank loans and overdrafts 27,153 10,454
Paragon Car Finance 7,100 11,391
Corporation tax 11,608 (12,800 )
Other taxes and social security 6,817 7,123
VAT 47,992 46,462
Other creditors - Montana Realty 47,500 47,500
Other creditors (1) 16,225 16,225
Credit Card - Natwest 5,570 -
Credit Card - Barclaycard 45 -
Accruals and deferred income - 863
Directors' loan accounts 55,187 59,693
225,196 190,092
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loan - 66565944 > 1 yr - 42,034
Bounce back loan 25,633 35,457
25,633 77,491
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 196 196
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