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Registration number: 12065111

FCD One Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

FCD One Ltd

(Registration number: 12065111)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,378,525

870,805

Current assets

 

Debtors

5

238,536

19,865

Cash at bank and in hand

 

2,050

2,318

 

240,586

22,183

Creditors: Amounts falling due within one year

6

(191,475)

(161,917)

Net current assets/(liabilities)

 

49,111

(139,734)

Total assets less current liabilities

 

1,427,636

731,071

Creditors: Amounts falling due after more than one year

6

(951,763)

(586,747)

Provisions for liabilities

(60,469)

(39,093)

Net assets

 

415,404

105,231

Capital and reserves

 

Called up share capital

7

105

100

Share premium reserve

259,995

-

Other reserves

257,792

166,662

Retained earnings

(102,488)

(61,531)

Shareholders' funds

 

415,404

105,231

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

 

FCD One Ltd

(Registration number: 12065111)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 28 May 2025
 

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

 

FCD One 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 28 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.

 

FCD One 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

Over 4 years

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.

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.

 

FCD One Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 1).

 

FCD One Ltd

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

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

870,000

1,089

871,089

Revaluations

112,506

-

112,506

Additions

392,494

3,251

395,745

At 30 April 2024

1,375,000

4,340

1,379,340

Depreciation

At 1 May 2023

-

283

283

Charge for the year

-

532

532

At 30 April 2024

-

815

815

Carrying amount

At 30 April 2024

1,375,000

3,525

1,378,525

At 30 April 2023

870,000

805

870,805

Included within the net book value of land and buildings above is £1,375,000 (2023 - £870,000) in respect of long leasehold land and buildings.
 

Revaluation

The fair value of the company's Land and buildings was revalued on 30 April 2024. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,056,739 (2023 - £664,245).

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

5,183

-

Amounts owed by related parties

9

154,711

15,365

Prepayments

 

78,590

-

Other debtors

 

52

4,500

   

238,536

19,865

 

FCD One Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

9,984

5,486

Trade creditors

 

7,842

5,238

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

9

121,600

111,200

Taxation and social security

 

23,244

20,965

Accruals and deferred income

 

13,600

1,570

Other creditors

 

15,205

17,458

 

191,475

161,917

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £4360 (2023 - £0).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

951,763

586,747

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £918,740 (2023 - £548,100).

Creditors include bank loans repayable by instalments of £9,070 (2023 - £15,285) due after more than five years.

Creditors include bank loans not repayable by instalments of £835,122 (2023 - £548,100) due after more than five years.

 

FCD One Ltd

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

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

A Ordinary shares of £1 (2023 - £0) each

4

4

-

-

B Ordinary shares of £1 (2023 - £0) each

1

1

-

-

105

105

100

100

 

FCD One Ltd

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

951,763

586,747

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,984

5,486

9

Related party transactions

At the balance sheet date the company owed £121,600 (2023: £111,200) to Friday Club Developments Ltd. The company is a wholly owned subsidary of Friday Club Developments Ltd. The loan is interest free and repayable on demand.

Included in other debtors at the balance sheet date are amounts owed by companies with common directors and under the control of the parent company shareholder:
FC Construction Group Ltd £47,804 (2023: £15,365)
FCD Two Ltd £106,307 (2023: included in other creditors £1,800)
Focus Town Planning Ltd £600 (2023: £0)
The loans are interest free and repayable on demand.

Included in other creditors at the balance sheet date are amounts owed to companies with common directors and under the control of the parent company shareholder:
FCD Two Ltd, included in other debtors (2023: £1,800)
Aligned Property Services Ltd £0 (2023: £793)
The 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
£

Mr Sean Elliott

Directors loan

4,500

3,616

(8,064)

52