Company registration number 08037501 (England and Wales)
FBV CONSULTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
FBV CONSULTING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
FBV CONSULTING LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FBV CONSULTING LIMITED FOR THE YEAR ENDED 30 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FBV Consulting Limited for the year ended 30 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of FBV Consulting Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of FBV Consulting Limited and state those matters that we have agreed to state to the Board of Directors of FBV Consulting Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FBV Consulting Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that FBV Consulting 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 FBV Consulting Limited. You consider that FBV Consulting 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 FBV Consulting 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.
Kirk Rice LLP
17 October 2024
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
FBV CONSULTING LIMITED
BALANCE SHEET
AS AT
30 MARCH 2024
30 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
6,882
5,130
Debtors
3
814
22,906
Cash at bank and in hand
5,593
61
13,289
28,097
Creditors: amounts falling due within one year
4
(8,025)
(31,652)
Net current assets/(liabilities)
5,264
(3,555)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
5,064
(3,755)
Total equity
5,264
(3,555)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 17 October 2024 and are signed on its behalf by:
Mr J S Hayhurst
Director
Company Registration No. 08037501
FBV CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
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1
Accounting policies
Company information
FBV Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
Debtors
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Creditors
Creditors are not interest bearing and are included at their nominal value.
FBV CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
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1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
514
1,062
Amounts owed by group undertakings
1,641
Other debtors
300
20,203
814
22,906
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
23,625
Trade creditors
3,256
1,741
Taxation and social security
1,026
Other creditors
4,769
5,260
8,025
31,652
FBV CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
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5
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
The director's loan is free of interest and is repayable on demand.
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Director's Loan
-
20,203
(20,203)
-
20,203
(20,203)
-