Registered number
11593947
Fibrescope Networks Limited
Filleted Accounts
31 August 2024
Fibrescope Networks Limited
Registered number: 11593947
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 476,265 288,555
Current assets
Debtors 4 183,441 101,776
Cash at bank and in hand 49,592 35,066
233,033 136,842
Creditors: amounts falling due within one year 5 (175,536) (187,085)
Net current assets/(liabilities) 57,497 (50,243)
Total assets less current liabilities 533,762 238,312
Creditors: amounts falling due after more than one year 6 (309,477) (126,679)
Net assets 224,285 111,633
Capital and reserves
Called up share capital 2 2
Profit and loss account 224,283 111,631
Shareholders' funds 224,285 111,633
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Adam Moore
Director
Approved by the board on 11 March 2025
Fibrescope Networks Limited
Notes to the Accounts
for the year ended 31 August 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 32 29
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 112,966 367,007 479,973
Additions 15,195 307,530 322,725
Disposals - (24,617) (24,617)
At 31 August 2024 128,161 649,920 778,081
Depreciation
At 1 September 2023 54,229 137,189 191,418
Charge for the year 23,302 99,566 122,868
On disposals - (12,470) (12,470)
At 31 August 2024 77,531 224,285 301,816
Net book value
At 31 August 2024 50,630 425,635 476,265
At 31 August 2023 58,737 229,818 288,555
4 Debtors 2024 2023
£ £
Trade debtors 160,823 51,224
Other debtors 22,618 50,552
183,441 101,776
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 19,072
Obligations under finance lease and hire purchase contracts 99,357 41,130
Trade creditors 19,604 45,911
Taxation and social security costs 43,238 66,483
Other creditors 3,337 14,489
175,536 187,085
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,163 20,098
Obligations under finance lease and hire purchase contracts 300,314 106,581
309,477 126,679
7 Related party transactions
Included within other creditors is a balance of £1,993 (Prior year £5,218), owed by the Company to a director and shareholder. No interest is charged on this balance and is repayable on demand.
Included within other creditors is a balance of £1,933 (Prior year £4,218), owed by the Company to a director and shareholder. No interest is charged on this balance and is repayable on demand.
8 Controlling party
The Company is wholly under the control of its joint directors and shareholders.
9 Other information
Fibrescope Networks Limited is a private company limited by shares and incorporated in England. Its registered office is:
Olympia House
196 Broomhill Road
Brislington
Bristol
BS4 5RG
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