IRIS Accounts Production v24.1.4.33 05520208 director 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055202082022-12-31055202082023-12-31055202082023-01-012023-12-31055202082021-12-31055202082022-01-012022-12-31055202082022-12-3105520208ns15:EnglandWales2023-01-012023-12-3105520208ns14:PoundSterling2023-01-012023-12-3105520208ns10:Director12023-01-012023-12-3105520208ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105520208ns10:SmallEntities2023-01-012023-12-3105520208ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105520208ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105520208ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105520208ns10:FullAccounts2023-01-012023-12-310552020812023-01-012023-12-3105520208ns10:RegisteredOffice2023-01-012023-12-3105520208ns5:CurrentFinancialInstruments2023-12-3105520208ns5:CurrentFinancialInstruments2022-12-3105520208ns5:Non-currentFinancialInstruments2023-12-3105520208ns5:Non-currentFinancialInstruments2022-12-3105520208ns5:ShareCapital2023-12-3105520208ns5:ShareCapital2022-12-3105520208ns5:RetainedEarningsAccumulatedLosses2023-12-3105520208ns5:RetainedEarningsAccumulatedLosses2022-12-3105520208ns5:NetGoodwill2023-01-012023-12-3105520208ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105520208ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3105520208ns5:PlantMachinery2023-01-012023-12-3105520208ns5:NetGoodwill2022-12-3105520208ns5:IntangibleAssetsOtherThanGoodwill2022-12-3105520208ns5:NetGoodwill2023-12-3105520208ns5:IntangibleAssetsOtherThanGoodwill2023-12-3105520208ns5:NetGoodwill2022-12-3105520208ns5:IntangibleAssetsOtherThanGoodwill2022-12-3105520208ns5:LandBuildings2022-12-3105520208ns5:PlantMachinery2022-12-3105520208ns5:LandBuildings2023-01-012023-12-3105520208ns5:LandBuildings2023-12-3105520208ns5:PlantMachinery2023-12-3105520208ns5:LandBuildings2022-12-3105520208ns5:PlantMachinery2022-12-3105520208ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105520208ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 05520208 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Fastrax Conveyor Rollers Ltd

Fastrax Conveyor Rollers Ltd (Registered number: 05520208)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fastrax Conveyor Rollers Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S J Millar





REGISTERED OFFICE: 16b Princewood Road
Corby
Northamptonshire
NN17 4AP





REGISTERED NUMBER: 05520208 (England and Wales)





ACCOUNTANTS: Blythe Phillips & Co.
8/9 Earls Way
Halesowen
West Midlands
B63 3HR

Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 159,372 160,484
Tangible assets 5 794,575 734,832
953,947 895,316

CURRENT ASSETS
Stocks 105,000 176,480
Debtors 6 250,702 241,814
Cash at bank 169,336 148,329
525,038 566,623
CREDITORS
Amounts falling due within one year 7 887,793 715,496
NET CURRENT LIABILITIES (362,755 ) (148,873 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

591,192

746,443

CREDITORS
Amounts falling due after more than one
year

8

(193,355

)

(167,879

)

PROVISIONS FOR LIABILITIES (152,598 ) (141,211 )
NET ASSETS 245,239 437,353

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 244,239 436,353
SHAREHOLDERS' FUNDS 245,239 437,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Balance Sheet - continued
31 December 2023


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 31 October 2024 and were signed by:





S J Millar - Director


Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Fastrax Conveyor Rollers Ltd 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.

2. ACCOUNTING POLICIES

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on 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.

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 balance sheet date.

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.

Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 134,900 27,809 162,709
AMORTISATION
At 1 January 2023 - 2,225 2,225
Charge for year - 1,112 1,112
At 31 December 2023 - 3,337 3,337
NET BOOK VALUE
At 31 December 2023 134,900 24,472 159,372
At 31 December 2022 134,900 25,584 160,484

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 187,655 892,857 1,080,512
Additions - 175,688 175,688
At 31 December 2023 187,655 1,068,545 1,256,200
DEPRECIATION
At 1 January 2023 - 345,680 345,680
Charge for year - 115,945 115,945
At 31 December 2023 - 461,625 461,625
NET BOOK VALUE
At 31 December 2023 187,655 606,920 794,575
At 31 December 2022 187,655 547,177 734,832

Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 201,533 222,563
Other debtors 49,169 19,251
250,702 241,814

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 250,731 362,268
Trade creditors 415,039 195,664
Taxation and social security 213,476 151,864
Other creditors 8,547 5,700
887,793 715,496

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 193,355 167,879