REGISTERED NUMBER: SC406549 (Scotland)

Financial Statements for the Year Ended 31 August 2024

for

FIS ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S E Ferguson

M S Ferguson

REGISTERED OFFICE:

Forfar Indoor Sports

Suttieside

Forfar

Angus

DD8 3NG

REGISTERED NUMBER:

SC406549 (Scotland)

ACCOUNTANTS:

Account Tax Ltd

Chartered Certified Accountants

12 Traill Drive

Montrose

Angus

DD10 8SW

FIXED ASSETS

Tangible assets

4

74,491

41,872

CURRENT ASSETS

Stocks

3,501

4,335

Debtors

5

9,371

301

Cash at bank and in hand

40,670

3,470

53,542

8,106

CREDITORS

Amounts falling due within one year

6

856,092

621,530

NET CURRENT LIABILITIES

(802,550

)

(613,424

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(728,059

)

(571,552

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(728,159

)

(571,652

)

(728,059

)

(571,552

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:

M S Ferguson - Director

1.	STATUTORY INFORMATION

FIS Enterprises Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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 Profit & Loss Account, 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 material 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2023

84,092

78,803

13,735

12,323

188,953

Additions

19,883

46,238

-

1,545

67,666

At 31 August 2024

103,975

125,041

13,735

13,868

256,619

DEPRECIATION

At 1 September 2023

73,342

53,427

13,735

6,577

147,081

Charge for year

9,452

21,335

-

4,260

35,047

At 31 August 2024

82,794

74,762

13,735

10,837

182,128

NET BOOK VALUE

At 31 August 2024

21,181

50,279

-

3,031

74,491

At 31 August 2023

10,750

25,376

-

5,746

41,872

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

51

51

Other debtors

9,320

250

9,371

301

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

56,122

27,213

Amounts owed to group undertakings

755,728

536,579

Taxation and social security

-

2,634

Other creditors

44,242

55,104

856,092

621,530

7.	RELATED PARTY DISCLOSURES

The company was under control of the directors, M S Ferguson and S E Ferguson, and the parent company, Forfar Indoor Sports Ltd who own 100% of the called up share capital throughout the current and previous year. The directors own 100% of the parent company.

Included within other creditors is a balance of £40,029 (2023 - £52,366) which is payable to the directors. No interest is payable on the balance outstanding.

A balance of £626,513 (2023 - £398,882) is outstanding to the parent company Forfar Indoor Sports Ltd.

A balance of £129,215 (2023 - £137,697) is due to The Eatery Ltd. MS Ferguson is the sole director of this company.

No dividends were paid to the directors.