Company registration number:
04370101
Febro Limited
Unaudited filleted financial statements
31 December 2023
Febro Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Febro Limited
Directors and other information
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Director |
Robert Jones |
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Secretary |
Richard Jones |
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Company number |
04370101 |
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Registered office |
34 Cross Street |
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Long Eaton |
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Nottingham |
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NG10 1HD |
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Business address |
27 Derby Road |
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Long Eaton |
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Nottingham |
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NG10 1LU |
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Accountants |
C. J. Lucking & Co |
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34 Cross Street |
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Long Eaton |
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Nottingham |
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NG10 1HD |
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Febro Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Febro Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Febro Limited for the year ended 31 December 2023 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Febro Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Febro Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Febro Limited and its director as a body for our work or for this report.
It is your duty to ensure that Febro Limited 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 Febro Limited. You consider that Febro Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Febro Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
C. J. Lucking & Co
Chartered Accountants
34 Cross Street
Long Eaton
Nottingham
NG10 1HD
16 September 2024
Febro Limited
Balance sheet
31 December 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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4 |
1,704,178 |
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1,685,803 |
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_______ |
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_______ |
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1,704,178 |
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1,685,803 |
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Current assets |
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Debtors |
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5 |
292,330 |
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265,035 |
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Cash at bank and in hand |
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9,204 |
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187,488 |
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_______ |
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_______ |
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301,534 |
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452,523 |
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Creditors: amounts falling due |
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within one year |
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(
282,644) |
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(
475,542) |
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_______ |
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Net current assets/(liabilities) |
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18,890 |
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23,019) |
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_______ |
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Total assets less current liabilities |
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1,723,068 |
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1,662,784 |
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Creditors: amounts falling due |
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after more than one year |
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7 |
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(
21,735) |
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(
31,442) |
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Provisions for liabilities |
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(
103,787) |
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(
91,000) |
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_______ |
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Net assets |
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1,597,546 |
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1,540,342 |
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Capital and reserves |
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Called up share capital |
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90 |
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90 |
Profit and loss account |
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1,597,456 |
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1,540,252 |
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_______ |
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Shareholders funds |
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1,597,546 |
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1,540,342 |
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_______ |
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
16 September 2024
, and are signed on behalf of the board by:
Robert Jones
Director
Company registration number:
04370101
Febro Limited
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 34 Cross Street, Long Eaton, Nottingham, NG10 1HD.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties, in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 ('FRS 102') Section 1A Small Entities, and with the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents rents receivable during the year on the basis that income receivable on a lease is spread evenly throughout the life of the lease.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets, other than investment property, are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment |
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25 % |
reducing balance |
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Motor vehicles |
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25 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Financial instruments
Debtors: No interest is charged on debtors and they are stated at their nominal value.Cash and bank balances are stated at their nominal value.Creditors and stated at their nominal value.
4.
Tangible assets
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Freehold property |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
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£ |
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£ |
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Cost |
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At 1 January 2023 |
1,604,000 |
17,717 |
108,875 |
1,730,592 |
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Additions |
199,068 |
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199,068 |
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Disposals |
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149,000) |
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149,000) |
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_______ |
_______ |
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_______ |
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At 31 December 2023 |
1,654,068 |
17,717 |
108,875 |
1,780,660 |
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Depreciation |
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At 1 January 2023 |
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17,570 |
27,219 |
44,789 |
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Charge for the year |
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37 |
20,414 |
20,451 |
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Impairment losses |
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11,242 |
11,242 |
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_______ |
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At 31 December 2023 |
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17,607 |
58,875 |
76,482 |
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_______ |
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Carrying amount |
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At 31 December 2023 |
1,654,068 |
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50,000 |
1,704,178 |
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_______ |
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At 31 December 2022 |
1,604,000 |
147 |
81,656 |
1,685,803 |
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_______ |
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_______ |
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All of the freehold properties are investment properties.
5.
Debtors
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2023 |
2022 |
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£ |
£ |
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Other debtors |
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292,330 |
265,035 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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10,648 |
10,648 |
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Trade creditors |
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37,961 |
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Corporation tax |
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40,837 |
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Other creditors |
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231,159 |
426,933 |
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_______ |
_______ |
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282,644 |
475,542 |
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_______ |
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7.
Creditors: amounts falling due after more than one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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21,735 |
31,442 |
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_______ |
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8.
Directors advances, credits and guarantees
At 31 December 2023 the director was owed £224,383 (2022 - £323,383) by the company and no interest is being charged on this loan.