Registered number
09851938
Fusion Deals Limited
Filleted Accounts
30 November 2023
Fusion Deals Limited
Registered number: 09851938
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 959 1,169
Current assets
Stocks 87,501 84,945
Debtors 4 26,355 27,504
Cash at bank and in hand 33,422 38,910
147,278 151,359
Creditors: amounts falling due within one year 5 (117,648) (98,302)
Net current assets 29,630 53,057
Total assets less current liabilities 30,589 54,226
Creditors: amounts falling due after more than one year 6 (25,833) (34,823)
Net assets 4,756 19,403
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,656 19,303
Shareholder's funds 4,756 19,403
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nayyer Yousuf Khan
Director
Approved by the board on 29 August 2024
Fusion Deals Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 4,007
At 30 November 2023 4,007
Depreciation
At 1 December 2022 2,838
Charge for the year 210
At 30 November 2023 3,048
Net book value
At 30 November 2023 959
At 30 November 2022 1,169
4 Debtors 2023 2022
£ £
Trade debtors 14,205 15,354
Other debtors 12,150 12,150
26,355 27,504
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 46,481 52,160
Taxation and social security costs 10,557 15,481
Other creditors 60,610 30,661
117,648 98,302
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 25,833 34,823
7 Other information
Fusion Deals Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 21B, Charles House
Bridge Road
Southall
Middlesex
UB2 4AE
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