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REGISTERED NUMBER: 02113964 (England and Wales)















F.B.S. Contracts Limited

Audited Financial Statements

for the Year Ended 31 December 2023






F.B.S. Contracts Limited (Registered number: 02113964)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


F.B.S. Contracts Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: A Kershaw
TR Phillips





REGISTERED OFFICE: 14-15 Aston Fields Road
Whitehouse Industrial Estate
Runcorn
Cheshire
WA7 3DL





REGISTERED NUMBER: 02113964 (England and Wales)





AUDITORS: McMillan & Co LLP
Chartered Accountants and
Statutory Auditor
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

F.B.S. Contracts Limited (Registered number: 02113964)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 143,304 71,104

CURRENT ASSETS
Stocks 107,468 98,944
Debtors 6 437,341 575,611
Cash at bank 320,317 345,962
865,126 1,020,517
CREDITORS
Amounts falling due within one year 7 287,506 279,977
NET CURRENT ASSETS 577,620 740,540
TOTAL ASSETS LESS CURRENT
LIABILITIES

720,924

811,644

CREDITORS
Amounts falling due after more than one
year

8

(53,883

)

-

PROVISIONS FOR LIABILITIES 10 (31,145 ) (12,471 )
NET ASSETS 635,896 799,173

CAPITAL AND RESERVES
Called up share capital 11 38 38
Capital redemption reserve 62 62
Retained earnings 635,796 799,073
SHAREHOLDERS' FUNDS 635,896 799,173

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





A Kershaw - Director


F.B.S. Contracts Limited (Registered number: 02113964)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

F.B.S. Contracts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements have been rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents the value of all services delivered during the year, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:


Plant and machinery10% Straight line
Fixtures and fittings33% Straight line
Motor vehicles 33% Straight line
Computer equipment 33% to 50% Straight line

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost of finished goods and work in progress includes overheads appropriate to the stage of manufacture. Net realisable value is based upon estimated selling price less further costs expected to be incurred to completion and disposal. Provision is made for obsolete and slow-moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


F.B.S. Contracts Limited (Registered number: 02113964)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 25 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2023 26,000 5,107 50,769 23,254 105,130
Additions 104,000 - - - 104,000
Disposals - - (12,999 ) - (12,999 )
At 31 December 2023 130,000 5,107 37,770 23,254 196,131
DEPRECIATION
At 1 January 2023 - 1,313 32,067 646 34,026
Charge for year 13,000 1,236 8,611 8,953 31,800
Eliminated on disposal - - (12,999 ) - (12,999 )
At 31 December 2023 13,000 2,549 27,679 9,599 52,827
NET BOOK VALUE
At 31 December 2023 117,000 2,558 10,091 13,655 143,304
At 31 December 2022 26,000 3,794 18,702 22,608 71,104

F.B.S. Contracts Limited (Registered number: 02113964)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 341,790 494,126
Amounts owed by group undertakings 18,995 -
Other debtors 38,109 36,668
VAT 38,447 44,817
437,341 575,611

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Hire purchase contracts (see note 9) 26,000 -
Trade creditors 96,571 131,683
Amounts owed to group undertakings 76,107 38,607
Corporation tax 23,408 26,664
Social security and other taxes 19,866 18,379
Other creditors 45,554 64,644
287,506 279,977

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Hire purchase contracts (see note 9) 53,883 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 26,000 -
Between one and five years 53,883 -
79,883 -

Non-cancellable
operating leases
2023 2022
£ £
Within one year 104,505 96,710
Between one and five years 394,918 374,133
In more than five years 340,266 433,066
839,689 903,909

F.B.S. Contracts Limited (Registered number: 02113964)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

10. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 31,145 12,471

Deferred tax
£
Balance at 1 January 2023 12,471
Charge to Statement of Income and Retained Earnings during year 18,674
Balance at 31 December 2023 31,145

Following the enactment of Finance Act 2021, deferred tax has been provided at 25%.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
38 Ordinary £1 38 38

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil McMillan FCA (Senior Statutory Auditor)
for and on behalf of McMillan & Co LLP

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. ULTIMATE CONTROLLING PARTY

The immediate parent company is F.B.S (Holdings) Limited. The ultimate parent company is GTA Laboratories Limited. The company is ultimately controlled by the directors of parent company GTA Laboratories Limited.