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Registered Number: 12235635
England and Wales

 

 

 

FUSION FIBRE GROUP LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 4,647,663    3,481,972 
4,647,663    3,481,972 
Current assets      
Debtors 1,004,031    726,591 
Cash at bank and in hand 60,432    10,477 
1,064,463    737,068 
Creditors: amount falling due within one year (5,405,479)   (4,145,276)
Net current assets (4,341,016)   (3,408,208)
 
Total assets less current liabilities 306,647    73,764 
Creditors: amount falling due after more than one year (3,680,000)   (2,130,000)
Net assets (3,373,353)   (2,056,236)
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account (3,373,453)   (2,056,336)
Shareholders' funds (3,373,353)   (2,056,236)
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 15 July 2024 and were signed on its behalf by:


-------------------------------
Adrian Marshman
Director
1
General Information
Fusion Fibre Group Ltd is a private company, limited by shares, registered in England, registration number 12235635, registration address 303 Century Building, Tower Street, Brunswick Business Park, Liverpool, England, L3 4BJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Property, plant and equipment 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:

Construction in progress - Not depreciated
Network infrastructure - Straight line over 10 and 25 years
Office Equipment - 2 to 3 years straight line


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.


2.

Average number of employees

Average number of employees during the year was 21 (2022 : 19).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 November 2022 3,474,512    25,593    3,500,105 
Additions 1,223,307    32,110    1,255,417 
Disposals    
At 31 October 2023 4,697,819    57,703    4,755,522 
Depreciation
At 01 November 2022 9,570    8,563    18,133 
Charge for year 71,797    17,929    89,726 
On disposals    
At 31 October 2023 81,367    26,492    107,859 
Net book values
Closing balance as at 31 October 2023 4,616,452    31,211    4,647,663 
Opening balance as at 01 November 2022 3,464,942    17,030    3,481,972 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

2