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Registration number: 13749391

Fast Track Bio Ltd

Unaudited Financial Statements

for the Period from 1 December 2022 to 31 March 2024

 

Fast Track Bio Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Fast Track Bio Ltd

Company Information

Directors

Mr H Singh

Ms Harbinder Kaur Bhogal

Registered office

7-9 Macon Court
Crewe
Cheshire
CW1 6EA

Accountants

Alextra Group Limited
Chartered Certified Accountants
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

 

Fast Track Bio Ltd

(Registration number: 13749391)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Current assets

 

Debtors

4

431,015

23,502

Cash at bank and in hand

 

1,690

310,782

 

432,705

334,284

Creditors: Amounts falling due within one year

5

(82,395)

(136,418)

Net assets

 

350,310

197,866

Capital and reserves

 

Called up share capital

110

1

Retained earnings

350,200

197,865

Shareholders' funds

 

350,310

197,866

For the financial period ending 31 March 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 November 2024 and signed on its behalf by:
 

.........................................
Mr H Singh
Director

 

Fast Track Bio Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except
that a change attributable to an item of income or expense recognised as other comprehensive income is also
recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Fast Track Bio Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1 (2022 - 1).

4

Debtors

Current

2024
£

2022
£

Trade debtors

19,540

23,502

Other debtors

411,475

-

 

431,015

23,502

5

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Taxation and social security

80,895

102,026

Other creditors

1,500

34,392

82,395

136,418