Registered number
04340777
FCL LIMITED
Filleted Accounts
31 December 2024
FCL LIMITED
Registered number: 04340777
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 19,729 21,839
Current assets
Stocks 5,878 17,216
Debtors 4 4,746 8,582
Cash at bank and in hand 96,343 64,297
106,967 90,095
Creditors: amounts falling due within one year 5 (48,467) (26,695)
Net current assets 58,500 63,400
Net assets 78,229 85,239
Capital and reserves
Called up share capital 100 100
Profit and loss account 78,129 85,139
Shareholder's funds 78,229 85,239
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.
I L Davis
Director
Approved by the board on 3 July 2025
FCL LIMITED
Notes to the Accounts
for the year ended 31 December 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 and machinery 20% straight line
Motor vehicles 25% reducing balance
Computer equipment 25% 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.
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 1 1
3 Tangible fixed assets
Leasehold property Plant and machinery and computer equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 2,398 23,390 26,837 52,625
Additions - 1,501 - 1,501
Disposals - - (5,730) (5,730)
At 31 December 2024 2,398 24,891 21,107 48,396
Depreciation
At 1 January 2024 - 19,905 10,881 30,786
Charge for the year - 1,053 2,557 3,610
On disposals - - (5,729) (5,729)
At 31 December 2024 - 20,958 7,709 28,667
Net book value
At 31 December 2024 2,398 3,933 13,398 19,729
At 31 December 2023 2,398 3,485 15,956 21,839
4 Debtors 2024 2023
£ £
Trade debtors 4,446 8,282
Other debtors 300 300
4,746 8,582
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 40,531 12,777
Corporation tax 3,073 6,926
Other taxes and social security costs 1,623 1,643
Director's loan account 1,250 3,252
Other creditors 1,990 2,097
48,467 26,695
6 Other information
FCL Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
7 Related party disclosures
The company was under the control of its directors and shareholders throughout the year.
The directors provided working capital to the company throughout the year by way of their current accounts.
2024 2023
£ £
Balance at 31 December 2024 1,250 3,252
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