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Registered number: 12396620
FULL THRUST LIMITED
Unaudited Financial Statements
For The Year Ended 31 January 2024
FOSDYKE ACCOUNTANCY SERVICES LIMITED
THE OLD VICARAGE
1 BELL LANE
FOSDYKE BOSTON
LINCS
PE20 2BS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12396620
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 120,241 126,848
120,241 126,848
CURRENT ASSETS
Debtors 5 37,005 36,993
Cash at bank and in hand 403 641
37,408 37,634
Creditors: Amounts Falling Due Within One Year 6 (141,749 ) (125,835 )
NET CURRENT ASSETS (LIABILITIES) (104,341 ) (88,201 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,900 38,647
Creditors: Amounts Falling Due After More Than One Year 7 (50,809 ) (64,220 )
NET LIABILITIES (34,909 ) (25,573 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (35,009 ) (25,673 )
SHAREHOLDERS' FUNDS (34,909) (25,573)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr PAUL KILLINGSWORTH
Director
29/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
FULL THRUST LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 12396620 . The registered office is NANTGLYN, VICTORIA STREET WRAGBY, MARKET RASEN, LINCS, LN8 5PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5/15%
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 February 2023 149,042
As at 31 January 2024 149,042
Depreciation
As at 1 February 2023 22,194
Provided during the period 6,607
As at 31 January 2024 28,801
Net Book Value
As at 31 January 2024 120,241
As at 1 February 2023 126,848
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 284 272
Loan - Lincoln Training Academy Limited 36,721 36,721
37,005 36,993
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 5,039 5,039
Accruals and deferred income 672 639
Directors' loan accounts 136,038 120,157
141,749 125,835
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 50,809 55,848
Accruals and deferred income - 2
Directors loan account - 8,370
50,809 64,220
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4