Registered number
06486015
FSC Doors Limited
Report and Accounts
30 April 2024
FSC Doors Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6
FSC Doors Limited
Company Information
Directors
M A Finney
D T Finney
T P McGuire
J W Vann
Secretary
J W Vann
Registered office
Units 6-11 Spartan Ind Centre
Brickhouse Lane
Great Bridge
West Midalnds
Registered number
06486015
FSC Doors Limited
Registered number: 06486015
Directors' Report
The directors present their report and accounts for the period ended 30 April 2024.
Principal activities
The company's principal activity during the period was that of a holding company. The company commenced trading on 1st November 2022.
Directors
The following persons served as directors during the period:
M A Finney
D T Finney
T P McGuire
J W Vann
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 17 December 2024 and signed on its behalf.
M A Finney
Director
FSC Doors Limited
Profit and Loss Account
for the period from 1 November 2022 to 30 April 2024
2024 2022
£ £
Turnover 731,475 -
Administrative expenses (12) -
Operating profit 731,463 -
Income from investments 135,000 -
Interest receivable 18,739 -
Interest payable (61,359) -
Profit before taxation 823,843 -
Tax on profit (172,210) -
Profit for the period 651,633 -
FSC Doors Limited
Registered number: 06486015
Balance Sheet
as at 30 April 2024
Notes 2024 2022
£ £
Fixed assets
Investments 3 974,531 -
Current assets
Debtors 4 533,319 -
Cash at bank and in hand 346,546 4
879,865 4
Creditors: amounts falling due within one year 5 (607,763) -
Net current assets 272,102 4
Total assets less current liabilities 1,246,633 4
Creditors: amounts falling due after more than one year 6 (135,000) -
Net assets 1,111,633 4
Capital and reserves
Called up share capital 460,000 4
Profit and loss account 651,633 -
Shareholders' funds 1,111,633 4
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.
D T Finney
Director
Approved by the board on 17 December 2024
FSC Doors Limited
Statement of Changes in Equity
for the period from 1 November 2022 to 30 April 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 November 2021 4 - - - 4
At 31 October 2022 4 - - - 4
At 1 November 2022 4 - - - 4
Profit for the period 651,633 651,633
Shares issued 459,996 - 459,996
At 30 April 2024 460,000 - - 651,633 1,111,633
FSC Doors Limited
Notes to the Accounts
for the period from 1 November 2022 to 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 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 4 4
3 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 974,531
At 30 April 2024 974,531
4 Debtors 2024 2022
£ £
Trade debtors 94,860 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 410,637 -
Other debtors 27,822 -
533,319 -
Amounts due after more than one year included above 30,000 -
5 Creditors: amounts falling due within one year 2024 2022
£ £
Taxation and social security costs 205,564 -
Other creditors 402,199 -
607,763 -
6 Creditors: amounts falling due after one year 2024 2022
£ £
Other creditors 135,000 -
7 Related party transactions
At the balance sheet date the following amounts were oustanding to the directors and Midland Building Products Ltd, who are all related parties:
2024 2022
£ £
M A Finney
Loan outstanding less amounts repaid 50,000 -
DT Finney
Loan outstanding less amounts repaid 50,000 -
T P McGuire
Loan outstanding less amounts repaid 50,000
Midland Building Products Ltd
Loan outstanding less amounts repaid 335,000 -
The above amounts are all interest bearing at 5% per annum and interest amounting to £61,359 has been paid during the period. The amounts due to M A Finney, D T Finney and T P McGuire have all ben repaid since the period end.
8 Controlling party
The company was under the control of the directors, M A Finney, DT Finney, T P McGuire and J W Vann by virtue of their ownership of the the entire issued share capital of the company.
9 Other information
FSC Doors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 6-11 Spartan Ind Centre
Brickhouse Lane
Great Bridge
West Midalnds
FSC Doors Limited 06486015 false 2022-11-01 2024-04-30 2024-04-30 VT Final Accounts July 2024 06486015 2021-11-01 2022-10-31 06486015 core:WithinOneYear 2022-10-31 06486015 core:AfterOneYear 2022-10-31 06486015 core:ShareCapital 2022-10-31 06486015 core:RetainedEarningsAccumulatedLosses 2022-10-31 06486015 2021-10-31 06486015 core:ShareCapital 2021-10-31 06486015 core:SharePremium 2021-10-31 06486015 core:OtherReservesSubtotal 2021-10-31 06486015 core:RetainedEarningsAccumulatedLosses 2021-10-31 06486015 2022-11-01 2024-04-30 06486015 bus:PrivateLimitedCompanyLtd 2022-11-01 2024-04-30 06486015 bus:AuditExempt-NoAccountantsReport 2022-11-01 2024-04-30 06486015 bus:Director1 2022-11-01 2024-04-30 06486015 bus:Director2 2022-11-01 2024-04-30 06486015 bus:Director3 2022-11-01 2024-04-30 06486015 bus:Director4 2022-11-01 2024-04-30 06486015 bus:CompanySecretary1 2022-11-01 2024-04-30 06486015 core:RetainedEarningsAccumulatedLosses 2022-11-01 2024-04-30 06486015 core:ShareCapital 2022-11-01 2024-04-30 06486015 core:SharePremium 2022-11-01 2024-04-30 06486015 1 2022-11-01 2024-04-30 06486015 2 2022-11-01 2024-04-30 06486015 countries:England 2022-11-01 2024-04-30 06486015 bus:FRS102 2022-11-01 2024-04-30 06486015 bus:FullAccounts 2022-11-01 2024-04-30 06486015 2024-04-30 06486015 core:WithinOneYear 2024-04-30 06486015 core:AfterOneYear 2024-04-30 06486015 core:ShareCapital 2024-04-30 06486015 core:RetainedEarningsAccumulatedLosses 2024-04-30 06486015 core:SharePremium 2024-04-30 06486015 core:OtherReservesSubtotal 2024-04-30 06486015 core:AdditionsToInvestments 2024-04-30 06486015 2022-10-31 06486015 core:SharePremium 2022-10-31 06486015 core:OtherReservesSubtotal 2022-10-31 iso4217:GBP xbrli:pure