REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
FOR |
FIBRE WAVE INSTALLATIONS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
FOR |
FIBRE WAVE INSTALLATIONS LIMITED |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FIBRE WAVE INSTALLATIONS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
55 Loudoun Road |
London |
NW8 0DL |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
BALANCE SHEET |
31 MAY 2024 |
31.5.24 | 31.3.23 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
BALANCE SHEET - continued |
31 MAY 2024 |
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 |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Fibre Wave Installations Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
The revenue and costs of the company's long term contracts are recognised by reference to the degree of completion of each contract, provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered. |
Where recognised turnover exceeds applicable payments on account, the balance is shown as amounts recoverable on contracts. Where payments on account exceeds recognised turnover, the balance is shown as payments on account. |
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. |
Tangible fixed assets |
Construction equipment | - |
Motor vehicles | - |
Office equipment | - |
Stock |
Stock has been valued at the lower of cost and net realisable value. Cost includes a relevant proportion of overheads according to the stage of completion. |
Taxation |
Taxation for the period 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. |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 period was |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
Additions |
At 31 May 2024 |
AMORTISATION |
Amortisation for period |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
5. | TANGIBLE FIXED ASSETS |
Construction | Motor | Office |
equipment | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 March 2023 |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
Additions |
At 31 May 2024 |
DEPRECIATION |
Charge for period |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.3.23 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.3.23 |
£ | £ |
Bank loans |
Hire purchase contracts |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.5.24 | 31.3.23 |
£ | £ |
Bank loans |
Hire purchase contracts | 41,805 | - |
The bank loan is secured under the Coronavirus Business Interruption Loan Scheme and the hire purchase liability is secured by the assets financed. |
10. | PROVISIONS FOR LIABILITIES |
31.5.24 |
£ |
Deferred tax | 10,142 |
Deferred |
tax |
£ |
Balance at 1 April 2023 | ( |
) |
Charge to Income Statement during period |
Balance at 31 May 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
12. | PENSION COMMITMENTS |
The company makes payments to a defined contribution scheme. Amounts charged to the profit and loss account for the year were £31,433 (2023: £24,766). At the year end there were employer pension contributions outstanding of £2,183 (2023: £2,183). |
FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024 |
13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 May 2024 and the year ended 31 March 2023: |
31.5.24 | 31.3.23 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |