Registered number
SC459270
Fbousis Ltd
Filleted Accounts
30 September 2024
Fbousis Ltd
Registered number: SC459270
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 396,000 462,000
Tangible assets 4 1,164,403 1,197,518
1,560,403 1,659,518
Current assets
Stocks 4,000 20,000
Debtors 5 159,403 504,452
Cash at bank and in hand 633,277 280,444
796,680 804,896
Creditors: amounts falling due within one year 6 (444,781) (207,192)
Net current assets 351,899 597,704
Total assets less current liabilities 1,912,302 2,257,222
Creditors: amounts falling due after more than one year 7 (668,191) (1,139,276)
Provisions for liabilities (67,738) (212,521)
Net assets 1,176,373 905,425
Capital and reserves
Called up share capital 100 1
Profit and loss account 1,176,273 905,424
Shareholder's funds 1,176,373 905,425
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr F Bousis
Director
Approved by the board on 15 May 2025
Fbousis Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 50 years
Fixtures, fittings, leasehold & equipment 20% reducing balance
Motor vehicle 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 26 28
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 660,000
At 30 September 2024 660,000
Amortisation
At 1 October 2023 198,000
Provided during the year 66,000
At 30 September 2024 264,000
Net book value
At 30 September 2024 396,000
At 30 September 2023 462,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Fixtures, fittings, leasehold & equipment Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 827,092 395,539 79,895 1,302,526
Additions - 64,244 - 64,244
At 30 September 2024 827,092 459,783 79,895 1,366,770
Depreciation
At 1 October 2023 - 85,034 19,974 105,008
Charge for the year - 81,380 15,979 97,359
At 30 September 2024 - 166,414 35,953 202,367
Net book value
At 30 September 2024 827,092 293,369 43,942 1,164,403
At 30 September 2023 827,092 310,505 59,921 1,197,518
5 Debtors 2024 2023
£ £
Trade debtors 156,192 119,208
Other debtors 3,211 385,244
159,403 504,452
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 214,788 -
Obligations under finance lease and hire purchase contracts 9,561 -
Trade creditors 106,731 91,040
Accruals 960 2,205
Taxation and social security costs 108,948 110,846
Other creditors 3,793 3,101
444,781 207,192
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 663,411 1,115,374
Obligations under finance lease and hire purchase contracts 4,780 23,902
668,191 1,139,276
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 892,540 1,139,276
9 Controlling party
The director, Dr Fotis Bousis, holds a beneficial interest in the share capital of the company.
10 Other information
Fbousis Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
Newkirkgate Shopping Centre
2 Great Junction Street
Edinburgh
EH6 5LA
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