Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity22truefalse 1157995 2023-01-01 2023-12-31 1157995 2022-01-01 2022-12-31 1157995 2023-12-31 1157995 2022-12-31 1157995 c:Director2 2023-01-01 2023-12-31 1157995 d:Buildings 2023-01-01 2023-12-31 1157995 d:Buildings 2023-12-31 1157995 d:Buildings 2022-12-31 1157995 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1157995 d:FurnitureFittings 2023-01-01 2023-12-31 1157995 d:FurnitureFittings 2023-12-31 1157995 d:FurnitureFittings 2022-12-31 1157995 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1157995 d:OfficeEquipment 2023-01-01 2023-12-31 1157995 d:OfficeEquipment 2023-12-31 1157995 d:OfficeEquipment 2022-12-31 1157995 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1157995 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1157995 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 1157995 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 1157995 d:CurrentFinancialInstruments 2023-12-31 1157995 d:CurrentFinancialInstruments 2022-12-31 1157995 d:Non-currentFinancialInstruments 2023-12-31 1157995 d:Non-currentFinancialInstruments 2022-12-31 1157995 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 1157995 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 1157995 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 1157995 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 1157995 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 1157995 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 1157995 d:ShareCapital 2023-12-31 1157995 d:ShareCapital 2022-12-31 1157995 d:RetainedEarningsAccumulatedLosses 2023-12-31 1157995 d:RetainedEarningsAccumulatedLosses 2022-12-31 1157995 c:FRS102 2023-01-01 2023-12-31 1157995 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 1157995 c:FullAccounts 2023-01-01 2023-12-31 1157995 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 1157995 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 1157995









FISA (GREAT BRITAIN) LTD.







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FISA (GREAT BRITAIN) LTD.
 
 
  
CHARTERED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FISA (GREAT BRITAIN) LTD.
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of FISA (Great Britain) Ltd. for the year ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW)I am subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of FISA (Great Britain) Ltd., as a body, in accordance with the terms of my engagement letter dated 22/01/2019My work has been undertaken solely to prepare for your approval the financial statements of FISA (Great Britain) Ltd. and state those matters that I have agreed to state to the Board of directors of FISA (Great Britain) Ltd., as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than FISA (Great Britain) Ltd. and its Board of directors, as a body, for my work or for this report. 

It is your duty to ensure that FISA (Great Britain) Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of FISA (Great Britain) Ltd.. You consider that FISA (Great Britain) Ltd. is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or review of the financial statements of FISA (Great Britain) Ltd.. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

  



Drennan & Co
 
Chartered Accountants
  
64 Belsize Park
London
NW3 4EH
27 March 2024
Page 1

 
FISA (GREAT BRITAIN) LTD.
REGISTERED NUMBER: 1157995

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
46,044
47,038

  
46,044
47,038

Current assets
  

Stocks
  
80,525
73,470

Debtors: amounts falling due within one year
 6 
35,538
32,937

Cash at bank and in hand
 7 
19,689
18,765

  
135,752
125,172

Creditors: amounts falling due within one year
 8 
(105,765)
(118,769)

Net current assets
  
 
 
29,987
 
 
6,403

Total assets less current liabilities
  
76,031
53,441

Creditors: amounts falling due after more than one year
 9 
(63,834)
(60,936)

  

Net assets/(liabilities)
  
12,197
(7,495)


Capital and reserves
  

Called up share capital 
  
327,200
327,200

Profit and loss account
  
(315,003)
(334,695)

  
12,197
(7,495)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2024.
Page 2

 
FISA (GREAT BRITAIN) LTD.
REGISTERED NUMBER: 1157995
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


M. Rodriguez
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
FISA (GREAT BRITAIN) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The entity is a limited company registered in England & Wales.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The company has incurred losses. Continuance of the business is dependent on the continuing support of the company's bankers and directors. The going concern basis of accounting has been used.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
FISA (GREAT BRITAIN) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Fixtures & fittings
-
15%
Office equipment
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.


3.


Employees

2023
2022
£
£

Wages and salaries
45,402
30,204

45,402
30,204


The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
FISA (GREAT BRITAIN) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Patents

£



Cost


At 1 January 2023
4,715



At 31 December 2023

4,715



Amortisation


At 1 January 2023
4,715



At 31 December 2023

4,715



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 6

 
FISA (GREAT BRITAIN) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
77,425
22,875
15,936
116,236



At 31 December 2023

77,425
22,875
15,936
116,236



Depreciation


At 1 January 2023
30,389
22,874
15,935
69,198


Charge for the year on owned assets
994
-
-
994



At 31 December 2023

31,383
22,874
15,935
70,192



Net book value



At 31 December 2023
46,042
1
1
46,044



At 31 December 2022
47,036
1
1
47,038

The company moved out of its freehold premises in London N1 in October 2002 to premises in Bromley, Kent. The Bromley property was exchanged for the London N1 premises. Legal completion of the transaction took place in July 2004 and was recorded at the Land Registry on 29 November 2004. The property continues to be shown in the note above at the original cost of the London N1 premises.

Page 7

 
FISA (GREAT BRITAIN) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
35,538
32,937

35,538
32,937



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
19,689
18,765

19,689
18,765



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
26,406
34,732

Trade creditors
72,214
77,173

Other taxation and social security
7,145
6,864

105,765
118,769


The following liabilities were secured:

2023
2022
£
£



Bank loans
26,406
34,732

26,406
34,732

Details of security provided:

The bank loans are secured on the freehold property and other assets of the business.

Page 8

 
FISA (GREAT BRITAIN) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,550
29,877

Other loans
41,284
31,059

63,834
60,936


The other loan is unsecured and interest free. The Bank loan is under the Bounce Back Scheme.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
26,406
34,732


26,406
34,732

Amounts falling due 1-2 years

Bank loans
22,550
29,877

Other loans
41,284
31,059


63,834
60,936



90,240
95,668


Page 9