13 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08293308 2022-12-01 2023-11-30 08293308 2023-11-30 08293308 2022-11-30 08293308 2021-12-01 2022-11-30 08293308 2022-11-30 08293308 2021-11-30 08293308 core:PlantMachinery 2022-12-01 2023-11-30 08293308 bus:RegisteredOffice 2022-12-01 2023-11-30 08293308 bus:LeadAgentIfApplicable 2022-12-01 2023-11-30 08293308 bus:Director1 2022-12-01 2023-11-30 08293308 bus:Director2 2022-12-01 2023-11-30 08293308 core:PlantMachinery 2022-11-30 08293308 core:PlantMachinery 2023-11-30 08293308 core:WithinOneYear 2023-11-30 08293308 core:WithinOneYear 2022-11-30 08293308 core:ShareCapital 2023-11-30 08293308 core:ShareCapital 2022-11-30 08293308 core:RetainedEarningsAccumulatedLosses 2023-11-30 08293308 core:RetainedEarningsAccumulatedLosses 2022-11-30 08293308 core:BetweenOneFiveYears 2022-11-30 08293308 core:PlantMachinery 2022-11-30 08293308 bus:SmallEntities 2022-12-01 2023-11-30 08293308 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08293308 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08293308 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08293308 bus:FullAccounts 2022-12-01 2023-11-30 08293308 core:OfficeEquipment 2022-12-01 2023-11-30 08293308 core:OfficeEquipment 2022-11-30 08293308 core:OfficeEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 08293308
Fusion Targeted Nutrition Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Fusion Targeted Nutrition Limited
Financial Statements
Year ended 30 November 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Fusion Targeted Nutrition Limited
Officers and Professional Advisers
THE BOARD OF DIRECTORS
N Mouchebeuf
M A Wall
REGISTERED OFFICE
Unit 3 Sand Lane Business Park
Sand Lane
Sandy
Bedfordshire
SG19 2DQ
ACCOUNTANTS
Streets
Chartered accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedfordshire
MK44 3BZ
Fusion Targeted Nutrition Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
11,476
15,064
Current assets
Stocks
233,040
233,040
Debtors
6
614,623
729,132
Cash at bank and in hand
1,048,424
585,004
------------
------------
1,896,087
1,547,176
Creditors: amounts falling due within one year
7
555,928
477,689
------------
------------
Net current assets
1,340,159
1,069,487
------------
------------
Total assets less current liabilities
1,351,635
1,084,551
Provisions
2,871
3,767
------------
------------
Net assets
1,348,764
1,080,784
------------
------------
Capital and reserves
Called up share capital
10
10
Profit and loss account
1,348,754
1,080,774
------------
------------
Shareholders funds
1,348,764
1,080,784
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Fusion Targeted Nutrition Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
M A Wall
Director
Company registration number: 08293308
Fusion Targeted Nutrition Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Sand Lane Business Park, Sand Lane, Sandy, Bedfordshire, SG19 2DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Office equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 10 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 December 2022
93,161
8,286
101,447
Additions
1,750
1,750
--------
--------
---------
At 30 November 2023
93,161
10,036
103,197
--------
--------
---------
Depreciation
At 1 December 2022
80,694
5,689
86,383
Charge for the year
3,117
2,221
5,338
--------
--------
---------
At 30 November 2023
83,811
7,910
91,721
--------
--------
---------
Carrying amount
At 30 November 2023
9,350
2,126
11,476
--------
--------
---------
At 30 November 2022
12,467
2,597
15,064
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
131,152
175,634
Other debtors
483,471
553,498
---------
---------
614,623
729,132
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
226,277
111,919
Corporation tax
283,474
268,999
Social security and other taxes
42,741
93,022
Other creditors
3,436
3,749
---------
---------
555,928
477,689
---------
---------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
7,660
23,380
Later than 1 year and not later than 5 years
7,660
-------
--------
7,660
31,040
-------
--------
9. Directors' advances, credits and guarantees
The directors maintain loan account with the company. At the beginning of the year the company owed the directors £262 (2022: £744). During the year there were advances to the directors of £97,344 (2022: £106,392) and repayments of £97,792 (2022: £105,910). At the year end date the company owed the directors £580. During the year the was £130 of interest charged and no amounts were written off. During prior years, a one off loan of £500,000 was taken by the directors. At the beginning of the year the outstanding balance the directors owed was £413,642. Repayments during the year amounted to £100,500. At the year end date the directors owed the company £320,143. During the year interest was charged of £7,001 and no amounts have been written off. The loan is repayable on demand.