Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10762439 Mr Feras AWAD Mr Feras Nicola AWAD true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10762439 2023-05-31 10762439 2024-05-31 10762439 2023-06-01 2024-05-31 10762439 frs-core:CurrentFinancialInstruments 2024-05-31 10762439 frs-core:Non-currentFinancialInstruments 2024-05-31 10762439 frs-core:MotorVehicles 2024-05-31 10762439 frs-core:MotorVehicles 2023-06-01 2024-05-31 10762439 frs-core:MotorVehicles 2023-05-31 10762439 frs-core:PlantMachinery 2024-05-31 10762439 frs-core:PlantMachinery 2023-06-01 2024-05-31 10762439 frs-core:PlantMachinery 2023-05-31 10762439 frs-core:ShareCapital 2024-05-31 10762439 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10762439 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10762439 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10762439 frs-bus:SmallEntities 2023-06-01 2024-05-31 10762439 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10762439 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10762439 1 2023-06-01 2024-05-31 10762439 frs-bus:Director1 2023-06-01 2024-05-31 10762439 frs-bus:Director1 2023-05-31 10762439 frs-bus:Director1 2024-05-31 10762439 frs-countries:EnglandWales 2023-06-01 2024-05-31 10762439 2022-05-31 10762439 2023-05-31 10762439 2022-06-01 2023-05-31 10762439 frs-core:CurrentFinancialInstruments 2023-05-31 10762439 frs-core:Non-currentFinancialInstruments 2023-05-31 10762439 frs-core:ShareCapital 2023-05-31 10762439 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10762439
FNA ENGINEERING LIMITED
Unaudited Financial Statements
For The Year Ended 31 May 2024
A-Z Z-A COMPANIES
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Feras AWAD
Company Number 10762439
Registered Office Flat 23 Andrews Court
North End Road
Wembley
HA9 0LX
Accountants A-Z Z-A COMPANIES
Naba Abdulrazak AFA MIPA
DOOR 11
203-205 THE VALE
ACTON
LONDON
W3 7QS
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Balance Sheet
Registered number: 10762439
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,936 7,699
16,936 7,699
CURRENT ASSETS
Debtors 5 35,970 40,291
Cash at bank and in hand 2,133 56,723
38,103 97,014
Creditors: Amounts Falling Due Within One Year 6 (10,897 ) (16,874 )
NET CURRENT ASSETS (LIABILITIES) 27,206 80,140
TOTAL ASSETS LESS CURRENT LIABILITIES 44,142 87,839
Creditors: Amounts Falling Due After More Than One Year 7 (32,999 ) (44,030 )
NET ASSETS 11,143 43,809
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 11,142 43,808
SHAREHOLDERS' FUNDS 11,143 43,809
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Feras AWAD
Director
25/11/2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
FNA ENGINEERING LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 10762439 . The registered office is Flat 23 Andrews Court, North End Road, Wembley, HA9 0LX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Diminishing Balance
Motor Vehicles 20% Diminishing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 6)
8 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 10,624 - 10,624
Additions 5,414 8,058 13,472
As at 31 May 2024 16,038 8,058 24,096
Depreciation
As at 1 June 2023 2,925 - 2,925
Provided during the period 2,623 1,612 4,235
As at 31 May 2024 5,548 1,612 7,160
Net Book Value
As at 31 May 2024 10,490 6,446 16,936
As at 1 June 2023 7,699 - 7,699
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,641 11,641
Prepayments and accrued income 1,800 5,500
Director's loan account 16,529 23,150
35,970 40,291
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 574 3,428
Corporation tax 1,317 2,007
PAYE Control Account 79 192
VAT Control Account 7,999 10,488
Net wages 928 759
10,897 16,874
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 32,999 44,030
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Feras AWAD 23,150 - 6,621 - 16,529
The above loan is unsecured, interest free and repayable on demand.
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr Feras Nicola AWAD by virtue of his ownership of 100% of the issued share capital in the company.
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