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Registration number: 06894009

Fencabs Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

image-name
 

Fencabs Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Unaudited Financial Statements

6 to 9

 

Fencabs Limited

Company Information

Directors

Mr Shaun Lee

Mr Richard Lee

Mrs Debbie Ann Lee

Mr Andrew Lee Mitchell

Registered office

56 Market Street
Ely
Cambs
CB7 4LS

Accountants

ProEdge Associates Limited Unit 1H Grovemere House
Lancaster Way Business Park
Ely
Cambridgeshire
CB6 3NW

 

Fencabs Limited

Directors' Report for the Year Ended 31 May 2024

The directors present their report and the financial statements for the year ended 31 May 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Richard Lee

Mrs Debbie Ann Lee

The following directors were appointed after the year end:

Mr Shaun Lee (appointed 9 September 2024)

Mr Andrew Lee Mitchell (appointed 9 September 2024)

Principal activity

The principal activity of the company is The provision of taxi services

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 6 February 2025 and signed on its behalf by:
 

.........................................
Mr Richard Lee
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fencabs Limited
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fencabs Limited for the year ended 31 May 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Fencabs Limited, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fencabs Limited and state those matters that we have agreed to state to the Board of Directors of Fencabs Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fencabs Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fencabs Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fencabs Limited. You consider that Fencabs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Fencabs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

ProEdge Associates Limited
Unit 1H Grovemere House
Lancaster Way Business Park
Ely
Cambridgeshire
CB6 3NW

7 February 2025

 

Fencabs Limited

Profit and Loss Account for the Year Ended 31 May 2024

Note

2024
£

2023
£

Turnover

 

1,361,580

1,198,295

Cost of sales

 

(990,459)

(804,750)

Gross profit

 

371,121

393,545

Administrative expenses

 

(166,696)

(180,749)

Operating profit

 

204,425

212,796

Profit before tax

4

204,425

212,796

Tax on profit

 

(32,375)

(34,934)

Profit for the financial year

 

172,050

177,862

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Fencabs Limited

(Registration number: 06894009)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

251,915

220,140

Current assets

 

Cash at bank and in hand

 

884,617

755,796

Creditors: Amounts falling due within one year

6

(482,572)

(474,025)

Net current assets

 

402,045

281,771

Net assets

 

653,960

501,911

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

653,860

501,811

Shareholders' funds

 

653,960

501,911

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 6 February 2025 and signed on its behalf by:
 

.........................................
Mr Richard Lee
Director

 

Fencabs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
56 Market Street
Ely
Cambs
CB7 4LS

These financial statements were authorised for issue by the Board on 6 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Fencabs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Reducing Balance 25%

Motor Vehicles

Reducing Balance 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 14).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

83,971

73,378

 

Fencabs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

13,965

686,604

700,569

Additions

-

121,092

121,092

Disposals

-

(5,346)

(5,346)

At 31 May 2024

13,965

802,350

816,315

Depreciation

At 1 June 2023

11,040

469,389

480,429

Charge for the year

731

83,240

83,971

At 31 May 2024

11,771

552,629

564,400

Carrying amount

At 31 May 2024

2,194

249,721

251,915

At 31 May 2023

2,925

217,215

220,140

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

98,322

114,770

Accruals and deferred income

2,500

2,500

Other creditors

381,750

356,755

482,572

474,025

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Fencabs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Dividends

2024

2023

£

£