Registered number
10000166
FPF Services Ltd.
Filleted Accounts
31 March 2024
FPF Services Ltd.
Registered number: 10000166
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 66,279 71,377
Tangible assets 4 33,533 37,552
99,812 108,929
Current assets
Debtors 5 193 193
Creditors: amounts falling due within one year 6 (253,398) (240,485)
Net current liabilities (253,205) (240,292)
Net liabilities (153,393) (131,363)
Capital and reserves
Called up share capital 250 250
Profit and loss account (153,643) (131,613)
Shareholder's funds (153,393) (131,363)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Morley
Director
Approved by the board on 28 November 2024
FPF Services Ltd.
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
The financial statements have been prepared on the going concern basis. This is on the understanding that any losses will be borne by the company's shareholder.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 5% straight line
Plant and machinery 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 101,966
At 31 March 2024 101,966
Amortisation
At 1 April 2023 30,589
Provided during the year 5,098
At 31 March 2024 35,687
Net book value
At 31 March 2024 66,279
At 31 March 2023 71,377
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 36,769 41,153 77,922
At 31 March 2024 36,769 41,153 77,922
Depreciation
At 1 April 2023 10,129 30,241 40,370
Charge for the year 1,838 2,181 4,019
At 31 March 2024 11,967 32,422 44,389
Net book value
At 31 March 2024 24,802 8,731 33,533
At 31 March 2023 26,640 10,912 37,552
5 Debtors 2024 2023
£ £
Other debtors 193 193
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 913 1,809
Taxation and social security costs - 53,817
Other creditors 252,485 184,859
253,398 240,485
7 Other information
FPF Services Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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