Registered number
10729843
FFAVS Ltd
Abbreviated Accounts
31 May 2024
FFAVS Ltd
Registered number: 10729843
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,987 7,066
Current assets
Stocks 109,650 150,319
Debtors 4 334,371 298,348
Cash at bank and in hand 485,999 158,109
930,020 606,776
Creditors: amounts falling due within one year 5 (436,901) (312,174)
Net current assets 493,119 294,602
Total assets less current liabilities 502,106 301,668
Creditors: amounts falling due after more than one year 6 (131,893) (180,334)
Net assets 370,213 121,334
Capital and reserves
Called up share capital 204 200
Profit and loss account 370,009 121,134
Shareholder's funds 370,213 121,334
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Robert Fountain
Director
Approved by the board on 30 October 2024
FFAVS Ltd
Notes to the Accounts
for the year ended 31 May 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 21
3 Tangible fixed assets
Office equipment Computer equipment Total
£ £ £
Cost
At 1 June 2023 287 13,072 13,359
Additions - 4,916 4,916
At 31 May 2024 287 17,988 18,275
Depreciation
At 1 June 2023 72 6,221 6,293
Charge for the year 54 2,941 2,995
At 31 May 2024 126 9,162 9,288
Net book value
At 31 May 2024 161 8,826 8,987
At 31 May 2023 215 6,851 7,066
4 Debtors 2024 2023
£ £
Trade debtors 334,371 298,348
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 68,192 68,192
Trade creditors 118,273 155,997
Taxation and social security costs 247,652 86,415
Other creditors 2,784 1,570
436,901 312,174
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 131,893 180,334
7 Other information
FFAVS Ltd is a private company limited by shares and incorporated in England. Its registered office is:
6 Kings Court Newcomen Way, Severalls Industrial Park, Colchester, England, CO4 9RA
FFAVS Ltd 10729843 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Robert Fountain No description of principal activity 10729843 2022-06-01 2023-05-31 10729843 core:WithinOneYear 2023-05-31 10729843 core:AfterOneYear 2023-05-31 10729843 core:ShareCapital 2023-05-31 10729843 core:RetainedEarningsAccumulatedLosses 2023-05-31 10729843 2023-06-01 2024-05-31 10729843 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10729843 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10729843 bus:Director40 2023-06-01 2024-05-31 10729843 core:LandBuildings 2023-06-01 2024-05-31 10729843 core:PlantMachinery 2023-06-01 2024-05-31 10729843 countries:England 2023-06-01 2024-05-31 10729843 bus:FRS102 2023-06-01 2024-05-31 10729843 bus:FilletedAccounts 2023-06-01 2024-05-31 10729843 2024-05-31 10729843 core:WithinOneYear 2024-05-31 10729843 core:AfterOneYear 2024-05-31 10729843 core:ShareCapital 2024-05-31 10729843 core:RetainedEarningsAccumulatedLosses 2024-05-31 10729843 core:LandBuildings 2024-05-31 10729843 core:PlantMachinery 2024-05-31 10729843 2023-05-31 10729843 core:LandBuildings 2023-05-31 10729843 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure