FIF Projects Ltd 15052714 false 2023-08-07 2024-08-31 2024-08-31 The principal activity of the company is installation of smart security systems. Digita Accounts Production Advanced 6.30.9574.0 true true 15052714 2023-08-07 2024-08-31 15052714 2024-08-31 15052714 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-08-31 15052714 core:RetainedEarningsAccumulatedLosses 2024-08-31 15052714 core:ShareCapital 2024-08-31 15052714 core:CurrentFinancialInstruments 2024-08-31 15052714 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 15052714 core:MotorVehicles 2024-08-31 15052714 core:PlantMachinery 2024-08-31 15052714 bus:SmallEntities 2023-08-07 2024-08-31 15052714 bus:AuditExemptWithAccountantsReport 2023-08-07 2024-08-31 15052714 bus:FilletedAccounts 2023-08-07 2024-08-31 15052714 bus:SmallCompaniesRegimeForAccounts 2023-08-07 2024-08-31 15052714 bus:RegisteredOffice 2023-08-07 2024-08-31 15052714 bus:Director1 2023-08-07 2024-08-31 15052714 bus:Director2 2023-08-07 2024-08-31 15052714 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-08-07 2024-08-31 15052714 bus:PrivateLimitedCompanyLtd 2023-08-07 2024-08-31 15052714 core:MotorVehicles 2023-08-07 2024-08-31 15052714 core:PlantMachinery 2023-08-07 2024-08-31 15052714 countries:EnglandWales 2023-08-07 2024-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 15052714

FIF Projects Ltd

Unaudited Filleted Financial Statements

for the Period from 7 August 2023 to 31 August 2024

 

FIF Projects Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

FIF Projects Ltd

(Registration number: 15052714)
Balance Sheet as at 31 August 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

23,322

Current assets

 

Debtors

5

12,215

Cash at bank and in hand

 

14,980

 

27,195

Creditors: Amounts falling due within one year

6

(26,565)

Net current assets

 

630

Net assets

 

23,952

Capital and reserves

 

Called up share capital

7

2

Retained earnings

23,950

Shareholders' funds

 

23,952

For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 November 2024 and signed on its behalf by:
 

.........................................
Mr N W E Bonwick
Director

.........................................
Mr A J Bourne
Director

 
     
 

FIF Projects Ltd

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4G Oakland Office Park
Aerodrome Road
Gosport
Hampshire
PO13 0GY
England

These financial statements were authorised for issue by the Board on 20 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

FIF Projects Ltd

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

FIF Projects Ltd

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

21,247

4,800

26,047

At 31 August 2024

21,247

4,800

26,047

Depreciation

Charge for the period

2,125

600

2,725

At 31 August 2024

2,125

600

2,725

Carrying amount

At 31 August 2024

19,122

4,200

23,322

5

Debtors

Current

2024
£

Trade debtors

7,260

Prepayments

499

Other debtors

4,456

 

12,215

 

FIF Projects Ltd

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

198

Taxation and social security

617

Accruals and deferred income

750

Other creditors

25,000

26,565

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

2

2