REGISTERED NUMBER: |
FIDELITY INTEGRATED SYSTEMS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 OCTOBER 2024 |
REGISTERED NUMBER: |
FIDELITY INTEGRATED SYSTEMS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 OCTOBER 2024 |
FIDELITY INTEGRATED SYSTEMS LIMITED (REGISTERED NUMBER: 04311712) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Chartered accountants' report | 8 |
FIDELITY INTEGRATED SYSTEMS LIMITED |
COMPANY INFORMATION |
for the year ended 31 October 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Lygon House |
50 London Road |
Bromley |
Kent |
BR1 3RA |
FIDELITY INTEGRATED SYSTEMS LIMITED (REGISTERED NUMBER: 04311712) |
BALANCE SHEET |
31 October 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
FIDELITY INTEGRATED SYSTEMS LIMITED (REGISTERED NUMBER: 04311712) |
BALANCE SHEET - continued |
31 October 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
FIDELITY INTEGRATED SYSTEMS LIMITED (REGISTERED NUMBER: 04311712) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2024 |
1. | STATUTORY INFORMATION |
Fidelity Integrated Systems Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenditures during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management do not consider that there is a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period. |
Going concern |
It is the directors' opinion that the company is a going concern for the foreseeable future. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
FIDELITY INTEGRATED SYSTEMS LIMITED (REGISTERED NUMBER: 04311712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Debtors |
Short term debtors are measures at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand and deposits held at call with banks. Bank overdrafts, when applicable are shown within borrowings in current liabilities. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
FIDELITY INTEGRATED SYSTEMS LIMITED (REGISTERED NUMBER: 04311712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2023 |
Disposals | ( |
) | ( |
) |
At 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
5. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
FIDELITY INTEGRATED SYSTEMS LIMITED (REGISTERED NUMBER: 04311712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2024 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
11. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, the directors owed the company £307,842 (2023 - the company owed the directors £158). The balance was repaid within nine months of the year end. |
As at the balance sheet date, £101,000 (2023: £Nil) was owed to the company from Andralis Investments Limited, a company with directors and shareholders in common. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
FIDELITY INTEGRATED SYSTEMS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fidelity Integrated Systems Limited for the year ended 31 October 2024 which comprise the Statement of income and retained earnings, Balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Fidelity Integrated Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fidelity Integrated Systems Limited and state those matters that we have agreed to state to the Board of Directors of Fidelity Integrated Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fidelity Integrated Systems Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Fidelity Integrated Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fidelity Integrated Systems Limited. You consider that Fidelity Integrated Systems 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 financial statements of Fidelity Integrated Systems 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 financial statements. |
Chartered Accountants |
Lygon House |
50 London Road |
Bromley |
Kent |
BR1 3RA |