F SOURCE LIMITED

Company Registration Number:
08957250 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

F SOURCE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

F SOURCE LIMITED

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 5,837,645 5,625,388
Cost of sales: ( 3,834,924 ) ( 3,791,834 )
Gross profit(or loss): 2,002,721 1,833,554
Distribution costs: ( 263,837 ) ( 243,731 )
Administrative expenses: ( 528,396 ) ( 488,537 )
Operating profit(or loss): 1,210,488 1,101,286
Profit(or loss) before tax: 1,210,488 1,101,286
Tax: ( 229,992 ) ( 209,243 )
Profit(or loss) for the financial year: 980,496 892,043

F SOURCE LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 2,059,824 1,732,854
Total fixed assets: 2,059,824 1,732,854
Current assets
Stocks: 4 1,638,290 1,426,598
Debtors: 5 1,246,346 962,598
Cash at bank and in hand: 572,349 356,987
Total current assets: 3,456,985 2,746,183
Creditors: amounts falling due within one year: 6 ( 449,421 ) ( 392,145 )
Net current assets (liabilities): 3,007,564 2,354,038
Total assets less current liabilities: 5,067,388 4,086,892
Total net assets (liabilities): 5,067,388 4,086,892
Capital and reserves
Called up share capital: 500,000 500,000
Profit and loss account: 4,567,388 3,586,892
Total Shareholders' funds: 5,067,388 4,086,892

The notes form part of these financial statements

F SOURCE LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 15 November 2024
and signed on behalf of the board by:

Name: Ronglin Liu
Status: Director

The notes form part of these financial statements

F SOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Plant and Equipment 10% Furniture and Fittings 15% Motor Vehicles 20% Office Equipment 20% Land and Buildings 0%

F SOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 29 28

F SOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 1,365,000 68,515 81,258 228,596 285,862 2,029,231
Additions 0 87,884 87,795 133,741 235,235 544,655
Disposals
Revaluations
Transfers
At 31 March 2024 1,365,000 156,399 169,053 362,337 521,097 2,573,886
Depreciation
At 1 April 2023 0 25,852 37,689 97,598 135,238 296,377
Charge for year 0 15,640 25,358 72,468 104,219 217,685
On disposals
Other adjustments
At 31 March 2024 0 41,492 63,047 170,066 239,457 514,062
Net book value
At 31 March 2024 1,365,000 114,907 106,006 192,271 281,640 2,059,824
At 31 March 2023 1,365,000 42,663 43,569 130,998 150,624 1,732,854

F SOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Stocks

2024 2023
£ £
Stocks 1,638,290 1,426,598
Total 1,638,290 1,426,598

F SOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Trade debtors 1,246,346 962,598
Total 1,246,346 962,598

F SOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 343,564 293,872
Taxation and social security 105,857 98,273
Total 449,421 392,145