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REGISTERED NUMBER: 07755706 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

FENAX DEVELOPMENTS LTD

FENAX DEVELOPMENTS LTD (REGISTERED NUMBER: 07755706)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

FENAX DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: L S Walker
M J Barrett





SECRETARY: T W Walker





REGISTERED OFFICE: Heame House
23 Bilston Street
Sedgley
Dudley
West Midlands
DY3 1JA





REGISTERED NUMBER: 07755706 (England and Wales)





ACCOUNTANTS: Bytheway & Co Accountants Ltd
Chartered Certified Accountants
Heame House, 23 Bilston Street
Sedgley
Dudley
West Midlands
DY3 1JA

FENAX DEVELOPMENTS LTD (REGISTERED NUMBER: 07755706)

BALANCE SHEET
28 FEBRUARY 2024

28/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 164,471 166,630

CURRENT ASSETS
Stocks 168,000 411,450
Debtors 5 774,613 357,333
Prepayments and accrued income 55,909 31,340
Cash at bank and in hand 74,275 66,841
1,072,797 866,964
CREDITORS
Amounts falling due within one year 6 627,668 473,220
NET CURRENT ASSETS 445,129 393,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

609,600

560,374

CREDITORS
Amounts falling due after more than one
year

7

(62,729

)

(102,232

)

PROVISIONS FOR LIABILITIES 8 (39,877 ) (41,658 )
NET ASSETS 506,994 416,484

CAPITAL AND RESERVES
Called up share capital 50,100 50,100
Retained earnings 456,894 366,384
506,994 416,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FENAX DEVELOPMENTS LTD (REGISTERED NUMBER: 07755706)

BALANCE SHEET - continued
28 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:




L S Walker - Director



M J Barrett - Director


FENAX DEVELOPMENTS LTD (REGISTERED NUMBER: 07755706)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1. STATUTORY INFORMATION

Fenax Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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.

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 year 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.

Hire purchase and leasing commitments
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.

FENAX DEVELOPMENTS LTD (REGISTERED NUMBER: 07755706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 223,599
Additions 39,482
At 28 February 2024 263,081
DEPRECIATION
At 1 March 2023 56,969
Charge for year 41,641
At 28 February 2024 98,610
NET BOOK VALUE
At 28 February 2024 164,471
At 28 February 2023 166,630

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/24 28/2/23
£    £   
Trade debtors 773,213 340,385
Other debtors 1,400 16,948
774,613 357,333

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/24 28/2/23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 58,272 62,007
Trade creditors 246,889 197,215
Taxation and social security 274,027 163,450
Other creditors 38,480 40,548
627,668 473,220

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28/2/24 28/2/23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts 50,229 79,732
62,729 102,232

FENAX DEVELOPMENTS LTD (REGISTERED NUMBER: 07755706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

8. PROVISIONS FOR LIABILITIES
28/2/24 28/2/23
£    £   
Deferred tax 39,877 41,658

Deferred
tax
£   
Balance at 1 March 2023 41,658
Provided during year (1,781 )
Balance at 28 February 2024 39,877

FENAX DEVELOPMENTS LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
FENAX DEVELOPMENTS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28 February 2024 set out on pages one to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Bytheway & Co Accountants Ltd
Chartered Certified Accountants
Heame House, 23 Bilston Street
Sedgley
Dudley
West Midlands
DY3 1JA


27 November 2024