Registered number
08693121
F N Solutions Limited
Unaudited Filleted Accounts
30 September 2024
F N Solutions Limited
Registered number: 08693121
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 39,634 67,921
Investments 4 862,924 862,948
902,558 930,869
Current assets
Stocks 1,278,509 1,450,350
Debtors 5 730,250 706,472
Cash at bank and in hand 53,794 12,916
2,062,553 2,169,738
Creditors: amounts falling due within one year 6 (261,285) (429,540)
Net current assets 1,801,268 1,740,198
Total assets less current liabilities 2,703,826 2,671,067
Creditors: amounts falling due after more than one year 7 (1,506,667) (1,525,202)
Net assets 1,197,159 1,145,865
Capital and reserves
Called up share capital 2 2
Revaluation reserve 8 1,789,008 1,789,008
Profit and loss account (591,851) (643,145)
Shareholders' funds 1,197,159 1,145,865
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
M D W Frost
Director
Approved by the board on 20 June 2025
F N Solutions Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
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:
Plant, machinery and equipment 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant, machinery & equipment
£
Cost
At 1 October 2023 84,857
At 30 September 2024 84,857
Depreciation
At 1 October 2023 16,936
Charge for the year 28,287
At 30 September 2024 45,223
Net book value
At 30 September 2024 39,634
At 30 September 2023 67,921
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost or valuation
At 1 October 2023 1 862,947 862,948
Disposals - (24) (24)
At 30 September 2024 1 862,923 862,924
5 Debtors 2024 2023
£ £
Trade debtors 8,033 2,251
Amounts owed by group undertakings and undertakings in which the company has a participating interest 663,451 663,451
Loans 22,400 40,159
Other debtors 36,366 611
730,250 706,472
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 18,535 20,229
Other loans - 54,947
Trade creditors 90,942 62,556
Directors loan accounts 148,558 288,558
Accruals 3,250 3,250
261,285 429,540
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,667 25,202
Directors' loan accounts 1,500,000 1,500,000
1,506,667 1,525,202
8 Revaluation reserve 2024 2023
£ £
At 1 October 2023 1,789,008 1,000,000
Gain on revaluation - 789,008
At 30 September 2024 1,789,008 1,789,008
9 Other information
F N Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Church Mews
Churchill Way
Macclesfield
Cheshire
SK11 6AY
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