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Registered number: 08056873
Fittran Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08056873
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,697 33,849
26,697 33,849
CURRENT ASSETS
Debtors 5 2,747 3,146
Cash at bank and in hand 3,796 2,090
6,543 5,236
Creditors: Amounts Falling Due Within One Year 6 (51,097 ) (48,807 )
NET CURRENT ASSETS (LIABILITIES) (44,554 ) (43,571 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,857 ) (9,722 )
Creditors: Amounts Falling Due After More Than One Year 7 (5,733 ) (11,894 )
NET LIABILITIES (23,590 ) (21,616 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Income Statement (23,592 ) (21,618 )
SHAREHOLDERS' FUNDS (23,590) (21,616)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
S A Smith
Director
22nd October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fittran Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08056873 . The registered office is c/o Lancasters, Manor Courtyard, Aston Sandford, Buckinghamshire, HP17 8JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 17,377 43,208 60,585
Disposals (3,555 ) - (3,555 )
As at 31 May 2024 13,822 43,208 57,030
Depreciation
As at 1 June 2023 14,050 12,686 26,736
Provided during the period 570 6,105 6,675
Disposals (3,078 ) - (3,078 )
As at 31 May 2024 11,542 18,791 30,333
Net Book Value
As at 31 May 2024 2,280 24,417 26,697
As at 1 June 2023 3,327 30,522 33,849
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,747 2,217
Other debtors - 929
2,747 3,146
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,821 2,821
Trade creditors 1,630 1,884
Bank loans and overdrafts 3,340 3,340
Other creditors 41,202 40,762
Taxation and social security 2,104 -
51,097 48,807
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,115 4,936
Bank loans 3,618 6,958
5,733 11,894
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,821 2,821
Later than one year and not later than five years 2,115 4,936
4,936 7,757
4,936 7,757
9. Share Capital
2024 2023
Allotted, called up but not fully paid £ £
1 Ordinary A shares of £ 1.00 each 1 1
1 Ordinary B shares of £ 1.00 each 1 1
2 2
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