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Registered Number: 06901958
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

F1 INVESTMENTS LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 276,391    258,495 
276,391    258,495 
Current assets      
Stocks 4 17,230    19,850 
Debtors 5 470    481 
Cash at bank and in hand 2,235    6,090 
19,935    26,421 
Creditors: amount falling due within one year 6 (80,311)   (76,533)
Net current assets (60,376)   (50,112)
 
Total assets less current liabilities 216,015    208,383 
Creditors: amount falling due after more than one year 7 (210,888)   (218,874)
Net assets 5,127    (10,491)
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 5,124    (10,494)
Shareholders' funds 5,127    (10,491)
 


For the year ended 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:
  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 director acknowledges 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 financial statements were approved by the director on 26 September 2024 and were signed by:


-------------------------------
Adam Jowett
Director
1
General Information
F1 Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 06901958, registration address Jws Hopper Hill Road , Eastfield, Scarborough, North Yorkshire, YO11 3YS.

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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 7).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Improvements to property   Total
  £   £   £   £
At 01 January 2023 56,602    106,250    221,541    384,393 
Additions      
Disposals      
Revaluations     25,000    25,000 
At 31 December 2023 56,602    106,250    246,541    409,393 
Depreciation
At 01 January 2023 36,194    89,704      125,898 
Charge for year 2,967    4,137      7,104 
On disposals      
At 31 December 2023 39,161    93,841      133,002 
Net book values
Closing balance as at 31 December 2023 17,441    12,409    246,541    276,391 
Opening balance as at 01 January 2023 20,408    16,546    221,541    258,495 


4.

Stocks

2023
£
  2022
£
Stocks 17,230    19,850 
17,230    19,850 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 470    481 
Other Debtors  
470    481 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 7,980    11,219 
Bank Loans & Overdrafts 15,911    17,943 
Corporation Tax 4,934    1,245 
PAYE & Social Security 2,461    2,835 
Accrued Expenses 17,817    2,722 
Other Creditors 294    294 
Obligations under HP/Financial Leases   7,083 
Directors' Current Accounts 24,536    27,878 
VAT 6,378    5,314 
80,311    76,533 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 38,703    56,772 
Amounts Owed to Group Undertakings 127,029    124,029 
Obligations Under HP/Financial Leases 45,156    38,073 
210,888    218,874 

2