Company Registration No. 07262388 (England and Wales)
Full Production Limited
Unaudited accounts
for the year ended 31 May 2025
Full Production Limited
Unaudited accounts
Contents
Full Production Limited
Statement of financial position
as at 31 May 2025
Tangible assets
82,385
99,907
Inventories
61,293
124,714
Cash at bank and in hand
85,489
98,974
Creditors: amounts falling due within one year
(163,117)
(186,190)
Net current assets
126,752
122,386
Total assets less current liabilities
209,137
222,293
Creditors: amounts falling due after more than one year
-
(10,958)
Provisions for liabilities
Deferred tax
(14,911)
(19,556)
Net assets
194,226
191,779
Called up share capital
100
100
Profit and loss account
194,126
191,679
Shareholders' funds
194,226
191,779
For the year ending 31 May 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2025 and were signed on its behalf by
Steven Richardson
Director
Company Registration No. 07262388
Full Production Limited
Notes to the Accounts
for the year ended 31 May 2025
Full Production Limited is a private company, limited by shares, registered in England and Wales, registration number 07262388. The registered office is Unit 9, Castle End, Ruscombe, Berkshire, RG10 9XQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
20% straight line
Motor vehicles
25% on the reducing balance
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Full Production Limited
Notes to the Accounts
for the year ended 31 May 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 June 2024
26,537
56,359
15,792
34,851
36,579
170,118
Additions
-
4,493
-
3,754
3,452
11,699
Disposals
-
-
-
-
(2,348)
(2,348)
At 31 May 2025
26,537
60,852
15,792
38,605
37,683
179,469
At 1 June 2024
2,654
21,607
9,130
11,707
25,113
70,211
Charge for the year
531
12,766
1,666
6,778
6,948
28,689
On disposals
-
-
-
-
(1,816)
(1,816)
At 31 May 2025
3,185
34,373
10,796
18,485
30,245
97,084
At 31 May 2025
23,352
26,479
4,996
20,120
7,438
82,385
At 31 May 2024
23,883
34,752
6,662
23,144
11,466
99,907
Finished goods
61,293
120,914
Full Production Limited
Notes to the Accounts
for the year ended 31 May 2025
Amounts falling due within one year
Trade debtors
102,528
38,267
Accrued income and prepayments
30,359
31,169
Other debtors
10,200
15,452
8
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
10,959
10,010
Trade creditors
27,728
115,092
Taxes and social security
9,924
16,163
Other creditors
7,137
3,601
9
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
-
10,958
10
Deferred taxation
2025
2024
Accelerated capital allowances
14,911
19,556
Provision at start of year
19,556
10,375
(Credited)/charged to the profit and loss account
(4,645)
9,181
Provision at end of year
14,911
19,556
11
Operating lease commitments
2025
2024
At 31 May 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
35,594
34,000
Later than one year and not later than five years
149,595
147,189
Later than five years
7,704
45,704
Full Production Limited
Notes to the Accounts
for the year ended 31 May 2025
12
Average number of employees
During the year the average number of employees was 9 (2024: 7).