Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
281 | 478 | |||
Current assets | ||||
Stocks | 4 |
|
|
|
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
333,945 | 577,074 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current assets | 323,796 | 525,926 | ||
Total assets less current liabilities | 324,077 | 526,404 | ||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Profit and loss account |
|
|
||
Total shareholder's funds |
|
|
Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Fastpaq Ltd (registered number:
Mr A J Altoft
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Fastpaq Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.
Plant and machinery |
|
Fixtures and fittings |
|
Office equipment |
|
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Plant and machinery | Fixtures and fittings | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 May 2023 |
|
|
|
|
|||
At 30 April 2024 |
|
|
|
|
|||
Accumulated depreciation | |||||||
At 01 May 2023 |
|
|
|
|
|||
Charge for the financial year |
|
|
|
|
|||
At 30 April 2024 |
|
|
|
|
|||
Net book value | |||||||
At 30 April 2024 |
|
|
|
|
|||
At 30 April 2023 |
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Stocks |
|
|
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Transactions with the entity's directors
The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 May 2023, the balance owed to the director was £3,143. During the year, £77,564 was advanced to the director, and £74,752 was repaid by the director. At 30 April 2023, the balance owed to the director was £331.
At 1 May 2022, the balance owed to the director was £1,037. During the year, £66,231 was advanced to the director, and £68,337 was repaid by the director. At 30 April 2023, the balance owed to the director was £3,143.