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Registered number: 02575953
Fibre Technologies Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Elsburys Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02575953
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 843,736 869,627
Investments 6 41,716 41,716
885,452 911,343
CURRENT ASSETS
Stocks 7 290,865 250,163
Debtors 8 4,950,968 4,917,034
Cash at bank and in hand 84,023 343,383
5,325,856 5,510,580
Creditors: Amounts Falling Due Within One Year 9 (902,612 ) (1,013,396 )
NET CURRENT ASSETS (LIABILITIES) 4,423,244 4,497,184
TOTAL ASSETS LESS CURRENT LIABILITIES 5,308,696 5,408,527
Creditors: Amounts Falling Due After More Than One Year 10 (217,272 ) (324,789 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (4,256 )
NET ASSETS 5,091,424 5,079,482
CAPITAL AND RESERVES
Called up share capital 12 65 65
Revaluation reserve 13 317,811 317,811
Other reserves 35 35
Profit and Loss Account 4,773,513 4,761,571
SHAREHOLDERS' FUNDS 5,091,424 5,079,482
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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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
Mrs S Nurmohamed
Director
06/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fibre Technologies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02575953 . The registered office is 29 Wellington Business Park, Dukes Ride, Crowthorne, Berkshire, RG45 6LS.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. 
2.6. 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.
Freehold on 2% straight line
Plant & Machinery on 33% straight line
Motor Vehicles on 25% straight line
Fixtures & Fittings on 25% straight line
Computer Equipment on 33% straight line
2.7. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.8. 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.
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. 
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.10. Investments in subsidiaries
Investments in subsidary undertakings are recognised at cost. 
2.11. Factoring of debt
The company uses a sales ledger financing facility for most of the company's debts. All customers have a pre-arranged credit limit prior to assignment and advances are received against these debts which are secured on the assigned sales ledger balances. All interest and other charges are charged to the profit and loss account when they occur.
2.12. Registrar Filing Requirements
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidaries within the group. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 20,349
As at 31 May 2024 20,349
Amortisation
As at 1 June 2023 20,349
As at 31 May 2024 20,349
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 954,794 95,551 169,937 109,111 1,329,393
Additions - 8,995 - 2,337 11,332
Disposals - (5,490 ) - - (5,490 )
As at 31 May 2024 954,794 99,056 169,937 111,448 1,335,235
Depreciation
As at 1 June 2023 143,731 72,355 135,913 107,767 459,766
Provided during the period 10,577 13,618 9,313 1,999 35,507
Disposals - (3,774 ) - - (3,774 )
As at 31 May 2024 154,308 82,199 145,226 109,766 491,499
Net Book Value
As at 31 May 2024 800,486 16,857 24,711 1,682 843,736
As at 1 June 2023 811,063 23,196 34,024 1,344 869,627
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Included in the cost of land and property is freehold land of £400,000 (2023 - £400,000) which is not depreciated.
If the land and property had not been revalued they would have been included at the following:
- Historical cost - £621,150.
- Agrregate depreciation would be presented as - £219,552.
The property was last valued on 31st May 2018 by the directors and more recently for a mortgage review. The value of the land and property has not materially changed since this date.
6. Investments
Subsidiaries
£
Cost
As at 1 June 2023 41,716
As at 31 May 2024 41,716
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 41,716
As at 1 June 2023 41,716
The company's investments at the balance sheet date in the share capital of companies include the following:
Stat Systems Ltd
Registered office: 29 Wellington Business Park, Crowthorne, Berkshire, RG45 6LS
Nature of business: Other telecommunications activities
Class of shares: Ordinary
Holding:100%
Aggregate capital and reserves at at 31st May 2024: £9,762 (2023: £10,036) 
7. Stocks
2024 2023
£ £
Stock 290,865 250,163
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 228,497 195,177
Other debtors 42,007 43,360
270,504 238,537
Due after more than one year
Amounts owed by group undertakings 4,678,497 4,678,497
Other debtors 1,967 -
4,680,464 4,678,497
4,950,968 4,917,034
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9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,769 18,030
Trade creditors 299,671 508,102
Bank loans and overdrafts 136,071 136,071
Amounts owed to group undertakings - 11,000
Other creditors 352,702 235,718
Taxation and social security 99,399 104,475
902,612 1,013,396
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,470 9,828
Bank loans 214,802 314,961
217,272 324,789
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,769 18,030
Later than one year and not later than five years 2,470 9,828
17,239 27,858
17,239 27,858
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 65 65
13. Reserves
Revaluation Reserve
£
As at 1 June 2023 317,811
As at 31 May 2024 317,811
14. Related Party Transactions
During the year companies held by related parties invoice £67,890 for consultancy, operations, logistics, HR and compliance services related costs.
15. Ultimate Controlling Party
The company's ultimate controlling party is Fibre Technologies Distribution Ltd by virtue of his ownership of 100% of the issued share capital in the company.
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