Registered number
03166691
Fulcrum Design Ltd
Filleted Accounts
30 April 2024
Fulcrum Design Ltd
Registered number: 03166691
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 221,168 1,557
Current assets
Debtors 4 7,465 7,625
Cash at bank and in hand 15,318 40,517
22,783 48,142
Creditors: amounts falling due within one year 5 (220,218) (29,881)
Net current (liabilities)/assets (197,435) 18,261
Net assets 23,733 19,818
Capital and reserves
Called up share capital 40 40
Profit and loss account 23,693 19,778
Shareholders' funds 23,733 19,818
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
H Crabb
Director
Approved by the board on 16 September 2024
Fulcrum Design Ltd
Notes to the Accounts
for the year ended 30 April 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).
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 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.
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:
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 - 27,330 27,330
Additions 220,000 - 220,000
At 30 April 2024 220,000 27,330 247,330
Depreciation
At 1 May 2023 - 25,773 25,773
Charge for the year - 389 389
At 30 April 2024 - 26,162 26,162
Net book value
At 30 April 2024 220,000 1,168 221,168
At 30 April 2023 - 1,557 1,557
4 Debtors 2024 2023
£ £
Trade debtors 7,465 7,625
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 5,801
Taxation and social security costs (45,338) 6,917
Other creditors 265,556 17,163
220,218 29,881
6 Other information
Fulcrum Design Ltd is a private company limited by shares and incorporated in England. Its registered office is:
76 Park Street
Horsham
West Sussex
RH12 1BX
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