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REGISTERED NUMBER: 08990466 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 30th April 2024

for

Fusion Engineering (Staffordshire) Ltd

Fusion Engineering (Staffordshire) Ltd (Registered number: 08990466)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fusion Engineering (Staffordshire) Ltd

Company Information
for the Year Ended 30th April 2024







DIRECTOR: Mr D Sheen





REGISTERED OFFICE: Unit 4A Pasturefields Enterprise Park
Great Haywood
Staffordshire
ST18 0RB





REGISTERED NUMBER: 08990466 (England and Wales)





ACCOUNTANTS: Rice & Co Limited
Chartered Accountants
14a Market Place
Uttoxeter
Staffordshire
ST14 8HP

Fusion Engineering (Staffordshire) Ltd (Registered number: 08990466)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 505,085 403,238

CURRENT ASSETS
Stocks 187,135 98,985
Debtors 5 157,412 119,752
Cash at bank - 17,115
344,547 235,852
CREDITORS
Amounts falling due within one year 6 331,212 180,680
NET CURRENT ASSETS 13,335 55,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

518,420

458,410

CREDITORS
Amounts falling due after more than one
year

7

(460,390

)

(388,119

)

PROVISIONS FOR LIABILITIES (16,821 ) (12,768 )
NET ASSETS 41,209 57,523

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 41,207 57,521
SHAREHOLDERS' FUNDS 41,209 57,523

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Fusion Engineering (Staffordshire) Ltd (Registered number: 08990466)

Balance Sheet - continued
30th April 2024


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 director and authorised for issue on 31st January 2025 and were signed by:





Mr D Sheen - Director


Fusion Engineering (Staffordshire) Ltd (Registered number: 08990466)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Fusion Engineering (Staffordshire) Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts and value added tax. Turnover is recognised when services have been provided resulting in the company obtaining the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Buildings - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Fusion Engineering (Staffordshire) Ltd (Registered number: 08990466)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 2 ) .

Fusion Engineering (Staffordshire) Ltd (Registered number: 08990466)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
Buildings machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st May 2023 - 430,258 1,917 53,192 485,367
Additions 12,700 127,000 32,842 84,000 256,542
Disposals - - - (6,000 ) (6,000 )
At 30th April 2024 12,700 557,258 34,759 131,192 735,909
DEPRECIATION
At 1st May 2023 - 73,206 262 8,661 82,129
Charge for year 1,058 128,617 4,215 16,175 150,065
Eliminated on disposal - - - (1,370 ) (1,370 )
At 30th April 2024 1,058 201,823 4,477 23,466 230,824
NET BOOK VALUE
At 30th April 2024 11,642 355,435 30,282 107,726 505,085
At 30th April 2023 - 357,052 1,655 44,531 403,238


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 157,412 62,905
Other debtors - 56,847
157,412 119,752

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,224 6,183
Hire purchase contracts (see note 8) 80,269 112,313
Trade creditors 53,753 33,877
Taxation and social security 39,632 9,257
Other creditors 141,334 19,050
331,212 180,680

Fusion Engineering (Staffordshire) Ltd (Registered number: 08990466)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 7,049 13,389
Hire purchase contracts (see note 8) 376,503 286,901
Other creditors 76,838 87,829
460,390 388,119

Amounts falling due in more than five years:

Repayable by instalments
Other loans - 18,632

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 124,362 143,801
Between one and five years 440,162 341,568
564,524 485,369

Finance charges repayable:
Within one year 44,093 31,488
Between one and five years 63,659 54,667
107,752 86,155

Net obligations repayable:
Within one year 80,269 112,313
Between one and five years 376,503 286,901
456,772 399,214

Fusion Engineering (Staffordshire) Ltd (Registered number: 08990466)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 10,900 10,900
Between one and five years 8,175 19,075
19,075 29,975

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 90,489 97,313
Hire purchase contracts 456,772 399,214
547,261 496,527

Other loans are secured by a charge over the company's assets and a personal guarantee provided by the director of the company.

Hire purchase contracts are secured by the asset to which they relate.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th April 2024 and 30th April 2023:

2024 2023
£    £   
Mr D Sheen
Balance outstanding at start of year - 22,710
Amounts advanced 16,054 25,668
Amounts repaid (16,054 ) (48,378 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

During the financial year interest of £nil (2023 - £970) has been paid to the company in respect of these advances. There were no fixed terms for repayment.