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Registration number: 12318190

FC Construction Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

FC Construction Group Ltd

(Registration number: 12318190)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,111

8,907

Current assets

 

Stocks

5

129,600

244,087

Debtors

6

233,313

147,854

Cash at bank and in hand

 

23,156

-

 

386,069

391,941

Creditors: Amounts falling due within one year

7

(802,974)

(644,699)

Net current liabilities

 

(416,905)

(252,758)

Total assets less current liabilities

 

(411,794)

(243,851)

Creditors: Amounts falling due after more than one year

7

(31,116)

(36,320)

Net liabilities

 

(442,910)

(280,171)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(443,010)

(280,271)

Shareholders' deficit

 

(442,910)

(280,171)

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 May 2025
 

 

FC Construction Group Ltd

(Registration number: 12318190)
Balance Sheet as at 30 April 2024

.........................................
Mr Sean Elliott
Director

 

FC Construction Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Egerton House
Towers Business Park
Wilmslow Road
Manchester
M20 2DX
England

These financial statements were authorised for issue by the director on 29 May 2025.

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 received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

 

FC Construction Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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

Plant and machinery

25% to 33% reducing balance

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 merchandise sold or 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

FC Construction Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 5).

 

FC Construction Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

15,272

15,272

Additions

2,332

2,332

At 30 April 2024

17,604

17,604

Depreciation

At 1 May 2023

6,365

6,365

Charge for the year

6,128

6,128

At 30 April 2024

12,493

12,493

Carrying amount

At 30 April 2024

5,111

5,111

At 30 April 2023

8,907

8,907

5

Stocks

2024
£

2023
£

Work in progress

129,600

244,087

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

27,425

7,339

Amounts owed by related parties

11

55,547

-

Prepayments

 

130,325

52,874

Other debtors

 

20,016

87,641

   

233,313

147,854

 

FC Construction Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,671

27,129

Trade creditors

 

236,560

144,906

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

66,217

399,783

Taxation and social security

 

127,302

51,324

Accruals and deferred income

 

227,635

1,250

Other creditors

 

139,589

20,307

 

802,974

644,699

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

31,116

36,320

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

FC Construction Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

31,116

36,320

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,671

5,998

Bank overdrafts

-

21,131

5,671

27,129

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £3,604 (2023 - £37,314). These are the total future minimum payments under non-cancellable operating leases.

11

Related party transactions

Included in creditors at the balance sheet date are the following amounts owed by the company to companies under the control of the director:
Friday Club Developments Ltd £18,413 (2023: £116,363)
FCD One Ltd £47,804 (2023: £15,365)

Included in debtors at the balance sheet date are the following amounts owed by companies under the control of the director:
FCD Two Ltd £8,400 (2023: included in other creditors £191,055)
FCD Three Ltd £47,147 (2023: included in other creditors £77,000)

All loans are interest free and repayable on demand.

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Directors loan account

56,193

64,309

(254,001)

(133,499)

 

 

FC Construction Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Directors loan account

76,310

16,500

(36,617)

56,193

 

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

90,000

105,000