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Registered number: 01671421
Fullbrook Systems Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01671421
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 93,637 104,030
93,637 104,030
CURRENT ASSETS
Stocks 5 43,789 72,548
Debtors 6 90,400 97,717
Cash at bank and in hand 431,709 1,186,140
565,898 1,356,405
Creditors: Amounts Falling Due Within One Year 7 (164,791 ) (210,467 )
NET CURRENT ASSETS (LIABILITIES) 401,107 1,145,938
TOTAL ASSETS LESS CURRENT LIABILITIES 494,744 1,249,968
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,479 ) (6,369 )
NET ASSETS 490,265 1,243,599
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 490,165 1,243,499
SHAREHOLDERS' FUNDS 490,265 1,243,599
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Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C J Humphreys
Director
30/06/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fullbrook Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01671421 . The registered office is 18a Box Lane, Boxmoor Golf House, Hemel Hempstead, Hertfordshire, HP3 0DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold On 10 years straight line
Plant & Machinery 10% on straight line
Motor Vehicles 25% / 15% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 5)
5 5
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2024 59,308 21,274 119,430 37,646
Additions - 19,670 - -
Disposals - (21,274 ) - -
As at 31 March 2025 59,308 19,670 119,430 37,646
Depreciation
As at 1 April 2024 59,308 3,546 33,573 37,201
Provided during the period - 2,127 12,879 89
Disposals - (5,673 ) - -
As at 31 March 2025 59,308 - 46,452 37,290
...CONTINUED
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Net Book Value
As at 31 March 2025 - 19,670 72,978 356
As at 1 April 2024 - 17,728 85,857 445
Computer Equipment Total
£ £
Cost
As at 1 April 2024 17,150 254,808
Additions 781 20,451
Disposals - (21,274 )
As at 31 March 2025 17,931 253,985
Depreciation
As at 1 April 2024 17,150 150,778
Provided during the period 148 15,243
Disposals - (5,673 )
As at 31 March 2025 17,298 160,348
Net Book Value
As at 31 March 2025 633 93,637
As at 1 April 2024 - 104,030
5. Stocks
2025 2024
£ £
Stock 43,789 72,548
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 82,272 95,269
Other debtors 8,128 2,448
90,400 97,717
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 112,875 81,087
Other creditors 22,551 37,440
Taxation and social security 29,365 91,940
164,791 210,467
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 6