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Company registration number: 04144664







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024


4 FIBRE LIMITED






































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4 FIBRE LIMITED
 


 
COMPANY INFORMATION


Directors
P Dellow 
D J Fogelman 
R Wickings 




Registered number
04144664



Registered office
The Pavilion
Botleigh Grange Business Park

Hedge End

Southampton

SO30 2AF




Trading Address
Piper House
14 West Place

Harlow

Essex

CM20 2GY






Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


4 FIBRE LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 6


 


4 FIBRE LIMITED
REGISTERED NUMBER:04144664



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
4,081,180
1,393,032

Debtors: amounts falling due within one year
 5 
346,759
1,119,199

Cash at bank and in hand
  
17,317
11,724

  
4,445,256
2,523,955

Creditors: amounts falling due within one year
 6 
(4,208,253)
(879,678)

Net current assets
  
 
 
237,003
 
 
1,644,277

Total assets less current liabilities
  
237,003
1,644,277

Creditors: amounts falling due after more than one year
 7 
-
(1,600,000)

  

Net assets
  
237,003
44,277


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
237,002
44,276

  
237,003
44,277


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Dellow
Director

Date: 25 February 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 


4 FIBRE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

4 Fibre Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Pavillion, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the
buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 2

 


4 FIBRE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Stocks

Stock relates to fibre which has been installed but not yet been sold. The carrying value is estimated by management as being the cost attributable to the unsold fibre at each location. It is recognised by the company at cost at the point that the fibre has been installed at each relevant location and is available for sale. Each unit of fibre has four lines which can be sold separately. As each line is sold, part of the installation cost is released to costs of sales, the ratios being 50%, 30%, 20% and 0% of the installation costs being released at the point of sale of lines one to four respectively. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 3

 


4 FIBRE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Stock is recognised by the company at cost at the point that the fibre has been installed at each relevant
location and is available for sale. Each unit of fibre has four lines which can be sold separately. As each line is
sold, part of the installation cost is released to costs of sales, the ratios being 50%, 30%, 20% and 0% of the
installation costs being released at the point of sale of lines one to four respectively. This reflects
management's best estimate of how cost should be attributed. As the company is in start up phase,
management has no objective method for determining whether the net realisable value of partially sold fibre is
lower than the value shown in the accounts.


4.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration (2023 - £NIL).

Page 4

 


4 FIBRE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
635,634

Amounts owed by group undertakings
-
243,156

Other debtors
193,464
92,901

Prepayments and accrued income
153,295
147,508

346,759
1,119,199



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
200,000

Trade creditors
18,881
24,446

Amounts owed to group undertakings
3,682,592
-

Other creditors
506,780
655,232

4,208,253
879,678



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
1,600,000

-
1,600,000



8.Other financial commitments

Loans included within entities of the group that the Company is a part are secured by fixed and floating charges over the assets of the Company and the group. At the year end the loans amounted to £66,833,106 (2023: £Nil).


9.


Controlling party

The parent undertaking of the smallest group in which consolidated financial statements are prepared, which include this company, is SCCI Group Limited. The company's registered address is The Pavilion, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF.

Page 5

 


4 FIBRE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 May 2024 was unqualified.

The audit report was signed on 25 February 2025 by Robin Hopkins FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6