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Registered Number: 11517415
England and Wales

 

 

 

FASTSPEED LTD



Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Thieme and Company
31 August 2024



Thieme and Company

18 Thorne Road
Doncaster
DN1 2HS
22 May 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 19,749    2,361 
19,749    2,361 
Current assets      
Debtors 51,517    43,391 
Cash at bank and in hand 55,365    58,943 
106,882    102,334 
Creditors: amount falling due within one year (29,547)   (37,717)
Net current assets 77,335    64,617 
 
Total assets less current liabilities 97,084    66,978 
Creditors: amount falling due after more than one year (51,104)   (14,453)
Accruals and deferred income (33,150)   (51,300)
Net assets 12,830    1,225 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 12,730    1,125 
Shareholders' funds 12,830    1,225 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 May 2025 and were signed on its behalf by:


-------------------------------
Nigel Antwis
Director
2
General Information
Fastspeed Ltd is a private company, limited by shares, registered in England and Wales, registration number 11517415, registration address 18 Thorne Road, Doncaster, South Yorkshire, DN1 2HS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 September 2023   4,727    5,060    9,787 
Additions 13,500    1,700    7,152    22,352 
Disposals      
At 31 August 2024 13,500    6,427    12,212    32,139 
Depreciation
At 01 September 2023   2,617    4,809    7,426 
Charge for year 3,209    734    1,021    4,964 
On disposals      
At 31 August 2024 3,209    3,351    5,830    12,390 
Net book values
Closing balance as at 31 August 2024 10,291    3,076    6,382    19,749 
Opening balance as at 01 September 2023   2,110    251    2,361 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3