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REGISTERED NUMBER: 02099434 (England and Wales)















Financial Statements

for the Year Ended 31 January 2024

for

FSI (UK) Limited

FSI (UK) Limited (Registered number: 02099434)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FSI (UK) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: C Charlesworth





REGISTERED OFFICE: Heath House
Firfields
Weybridge
Surrey
KT13 0UD





REGISTERED NUMBER: 02099434 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

FSI (UK) Limited (Registered number: 02099434)

Statement of Financial Position
31 January 2024

31/1/24 31/1/23
Notes £    £   
FIXED ASSETS
Tangible assets 5 332 665
Investment property 6 635,000 635,000
635,332 635,665

CURRENT ASSETS
Debtors 7 - 151
Investments 8 94,217 100,548
Cash at bank 5,451 6,290
99,668 106,989
CREDITORS
Amounts falling due within one year 9 (7,317 ) (9,123 )
NET CURRENT ASSETS 92,351 97,866
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,683

733,531

PROVISIONS FOR LIABILITIES (92,951 ) (69,786 )
NET ASSETS 634,732 663,745

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 382,005 403,540
Retained earnings 252,627 260,105
SHAREHOLDERS' FUNDS 634,732 663,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FSI (UK) Limited (Registered number: 02099434)

Statement of Financial Position - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 October 2024 and were signed by:





C Charlesworth - Director


FSI (UK) Limited (Registered number: 02099434)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

FSI (UK) 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 (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

For investment properties measured at fair value deferred tax is measured using the tax rates and allowances that will apply on the eventual sale of the property.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

FSI (UK) Limited (Registered number: 02099434)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued

Rent receivable
Rental income from investment properties leased out under operating leases is recognised in the profit and loss account on an accruals basis over the term of the lease. The effect of rent reviews is only recognised when such reviews have been agreed with the tenants.

Current asset investments
Current asset investments are measured at fair value. Changes in fair value are recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 February 2023
and 31 January 2024 1,333
Depreciation
At 1 February 2023 668
Charge for year 333
At 31 January 2024 1,001
Net book value
At 31 January 2024 332
At 31 January 2023 665

6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 February 2023
and 31 January 2024 635,000
Net book value
At 31 January 2024 635,000
At 31 January 2023 635,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2002 31,734
Valuation in 2005 130,000
Valuation in 2009 80,000
Valuation in 2012 95,000
Valuation in 2017 128,650
Valuation in 2022 6,350
Cost 163,266
635,000

FSI (UK) Limited (Registered number: 02099434)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

31/1/24 31/1/23
£    £   
Cost 163,266 163,266

The investment property was valued on an open market basis on 31 January 2024 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Other debtors - 151

8. CURRENT ASSET INVESTMENTS
31/1/24 31/1/23
£    £   
Listed investments 94,217 100,548

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Taxation and social security 5,266 7,073
Other creditors 2,051 2,050
7,317 9,123