0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 2568555 2024-01-01 2024-12-31 2568555 2024-12-31 2568555 2023-12-31 2568555 2023-01-01 2023-12-31 2568555 2023-12-31 2568555 2022-12-31 2568555 core:FurnitureFittings 2024-01-01 2024-12-31 2568555 bus:Director1 2024-01-01 2024-12-31 2568555 core:LandBuildings core:LongLeaseholdAssets 2024-12-31 2568555 core:FurnitureFittings 2024-12-31 2568555 core:WithinOneYear 2024-12-31 2568555 core:WithinOneYear 2023-12-31 2568555 core:AfterOneYear 2024-12-31 2568555 core:AfterOneYear 2023-12-31 2568555 core:ShareCapital 2024-12-31 2568555 core:ShareCapital 2023-12-31 2568555 core:RetainedEarningsAccumulatedLosses 2024-12-31 2568555 core:RetainedEarningsAccumulatedLosses 2023-12-31 2568555 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 2568555 bus:SmallEntities 2024-01-01 2024-12-31 2568555 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 2568555 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 2568555 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 2568555 bus:FullAccounts 2024-01-01 2024-12-31 2568555 core:OfficeEquipment 2024-01-01 2024-12-31 2568555 core:OfficeEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 2568555
FIBRELINE COMMUNICATIONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2024
FIBRELINE COMMUNICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
4
500,000
500,000
CURRENT ASSETS
Debtors
5
1,369
1,659
Cash at bank and in hand
10,877
12,918
--------
--------
12,246
14,577
CREDITORS: amounts falling due within one year
6
133,776
136,737
---------
---------
NET CURRENT LIABILITIES
121,530
122,160
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
378,470
377,840
CREDITORS: amounts falling due after more than one year
7
21,500
46,450
---------
---------
NET ASSETS
356,970
331,390
---------
---------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
356,968
331,388
---------
---------
SHAREHOLDERS FUNDS
356,970
331,390
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FIBRELINE COMMUNICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 24 February 2025 , and are signed on behalf of the board by:
G Holden
Director
Company registration number: 2568555
FIBRELINE COMMUNICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1a Cooper Road, Thornbury, Bristol, BS35 3UW.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25% reducing balance
Equipment
-
25% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. TANGIBLE ASSETS
Long leasehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2024 and 31 December 2024
500,000
21,741
50,205
571,946
---------
--------
--------
---------
Depreciation
At 1 January 2024 and 31 December 2024
21,741
50,205
71,946
---------
--------
--------
---------
Carrying amount
At 31 December 2024
500,000
500,000
---------
--------
--------
---------
At 31 December 2023
500,000
500,000
---------
--------
--------
---------
The investment property has been valued by the director at its estimated open market value at the balance sheet date.
5. DEBTORS
2024
2023
£
£
Other debtors
1,369
1,659
-------
-------
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
22,293
22,500
Corporation tax
6,000
4,408
Social security and other taxes
46
Other creditors
34,087
34,086
Other creditors
71,350
75,743
---------
---------
133,776
136,737
---------
---------
Bank borrowings are secured by a debenture dated March 27, 1995 and a legal charge dated October 21, 2005.
7. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
24,950
Other creditors
21,500
21,500
--------
--------
21,500
46,450
--------
--------