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REGISTERED NUMBER: 06309778 (England and Wales)















FED3 PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FED3 PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr L B Fallon
Mr J P Downey
Mr A Entwistle
Mr G H Pratt
Mr S A F Newbould





SECRETARY: Mr L B Fallon





REGISTERED OFFICE: First Floor
Shire House
Pyramid Close
Northampton
NN3 8PH





REGISTERED NUMBER: 06309778 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,041 -
Tangible assets 5 195,338 247,787
Investments 6 - -
200,379 247,787

CURRENT ASSETS
Debtors 7 1,459,549 1,910,775
Cash at bank 857,399 872,442
2,316,948 2,783,217
CREDITORS
Amounts falling due within one year 8 821,271 993,049
NET CURRENT ASSETS 1,495,677 1,790,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,696,056

2,037,955

CREDITORS
Amounts falling due after more than one
year

9

(14,766

)

(24,728

)

PROVISIONS FOR LIABILITIES (42,158 ) (56,044 )
NET ASSETS 1,639,132 1,957,183

CAPITAL AND RESERVES
Called up share capital 11 950 950
Retained earnings 12 1,638,182 1,956,233
SHAREHOLDERS' FUNDS 1,639,132 1,957,183

FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 20 January 2025 and were signed on its behalf by:




Mr A Entwistle - Director Mr J P Downey - Director




Mr L B Fallon - Director


FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Fed3 Projects Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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

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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be estimated reliably, turnover from a project is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to a standard formula that calculates the stage of completion based on start and expected completion dates.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - Straight line basis over 10 year period
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on Cost

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.


FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred taxation
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.

Debtors and creditors receivable or payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance/accrual model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 28 ) .

FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 8,385
Additions 5,500
Disposals (915 )
At 30 April 2024 12,970
AMORTISATION
At 1 May 2023 8,385
Charge for year 459
Eliminated on disposal (915 )
At 30 April 2024 7,929
NET BOOK VALUE
At 30 April 2024 5,041
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 21,030 23,721 21,323
Additions - - -
Disposals - (109 ) -
At 30 April 2024 21,030 23,612 21,323
DEPRECIATION
At 1 May 2023 18,043 14,650 9,505
Charge for year 2,987 2,377 2,158
Eliminated on disposal - (85 ) -
At 30 April 2024 21,030 16,942 11,663
NET BOOK VALUE
At 30 April 2024 - 6,670 9,660
At 30 April 2023 2,987 9,071 11,818

FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 331,811 83,891 481,776
Additions - 4,504 4,504
Disposals - (49,263 ) (49,372 )
At 30 April 2024 331,811 39,132 436,908
DEPRECIATION
At 1 May 2023 131,221 60,570 233,989
Charge for year 36,637 7,522 51,681
Eliminated on disposal - (44,015 ) (44,100 )
At 30 April 2024 167,858 24,077 241,570
NET BOOK VALUE
At 30 April 2024 163,953 15,055 195,338
At 30 April 2023 200,590 23,321 247,787

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 50,000
PROVISIONS

Impairments 50,000
At 30 April 2024 50,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 50,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 378,957 407,074
Amounts recoverable on contracts 479,260 565,607
Other debtors 545,501 839,035
Prepayments and accrued income 55,831 99,059
1,459,549 1,910,775

FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,149 10,000
Trade creditors 17,890 33,253
Tax 78,162 191,967
Social security and other taxes 29,169 35,538
VAT 79,717 105,793
Other creditors 426,983 415,426
Directors' current accounts 11,214 9,450
Accruals and deferred income 167,987 191,622
821,271 993,049

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-5 years 14,766 24,728

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 104,345 108,134
Between one and five years 62,581 88,872
166,926 197,006

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
900 Ordinary shares 100p 900 900
100 Ordinary 'B' shares 50p 50 50
950 950

12. RESERVES
Retained
earnings
£   

At 1 May 2023 1,956,233
Profit for the year 79,907
Dividends (397,958 )
At 30 April 2024 1,638,182

FED3 PROJECTS LIMITED (REGISTERED NUMBER: 06309778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. RELATED PARTY DISCLOSURES

FED3 Projects (Commercial) Limited
During the year the company provided loans to FED3 Projects (Commercial) Limited, a company in which Mr A Entwistle and Mr J P Downey are also directors. The total loan due to FED3 Projects (Commercial) Limited at the balance sheet date amounted to £542,285 (2022 - £838,219).

FED3 Projects Limited Share Protection Trust
As at the year to 30 April 2024, the company is holding monies of £408,822 from a crystalized insurance policy. The monies received is due to the FED3 Projects Limited Share Protection Trust. This balance does not attract interest and is included within "Other creditors"

14. ULTIMATE CONTROLLING PARTY

The operational control of the company is with Mr L B Fallon, Mr J P Downey and Mr A Entwistle. There is not considered to be an ultimate controlling party.