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Registered Number: 06901958
England and Wales

 

 

 


Unaudited Financial Statements


for the year ended 31 December 2024

for

F1 INVESTMENTS LIMITED

F1 Investments Limited
Contents Page
For the year ended 31 December 2024
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 274,163    276,391 
274,163    276,391 
Current assets      
Stocks 4 27,230    17,230 
Debtors 5 470    470 
Cash at bank and in hand 688    2,235 
28,388    19,935 
Creditors: amount falling due within one year 6 (99,206)   (80,311)
Net current assets (70,818)   (60,376)
 
Total assets less current liabilities 203,345    216,015 
Creditors: amount falling due after more than one year 7 (198,071)   (210,888)
Net assets 5,274    5,127 
 

Capital and reserves 		     
Called up share capital 3    3 
Profit and loss account 5,271    5,124 
Shareholders' funds 5,274    5,127 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 24 September 2025 and were signed by:


-------------------------------
Adam Jowett
Director
1
General Information
F1 Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 06901958, registration address Jws Hopper Hill Road , Eastfield, Scarborough, North Yorkshire, YO11 3YS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 12 (2023 : 10).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Improvements to property   Total
  £   £   £   £
At 01 January 2024 56,602    106,250    246,541    409,393 
Additions 3,580    -    -    3,580 
Disposals -    -    -    - 
At 31 December 2024 60,182    106,250    246,541    412,973 
Depreciation
At 01 January 2024 36,194    89,704    -    125,898 
Charge for year 5,673    7,239    -    12,912 
On disposals -    -    -    - 
At 31 December 2024 41,867    96,943    -    138,810 
Net book values
Closing balance as at 31 December 2024 18,315    9,307    246,541    274,163 
Opening balance as at 01 January 2024 17,441    12,409    246,541    276,391 


4.

Stocks

2024
£		   2023
£
Stocks 27,230    17,230 
27,230    17,230 

5.

Debtors: amounts falling due within one year

2024
£		   2023
£
Prepayments & Accrued Income 470    470 
Other Debtors 0    0 
470    470 

6.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 0    7,979 
Bank Loans & Overdrafts 15,911    15,911 
Corporation Tax 2,306    4,934 
PAYE & Social Security 4,896    2,461 
Accrued Expenses 8,818    17,818 
Other Creditors 20,724    294 
Obligations under HP/Financial Leases 0    0 
Directors' Current Accounts 45,526    24,536 
VAT 1,025    6,378 
99,206    80,311 

7.

Creditors: amount falling due after more than one year

2024
£		   2023
£
Bank Loans & Overdrafts 25,391    38,703 
Amounts Owed to Group Undertakings 127,524    127,029 
Obligations Under HP/Financial Leases 45,156    45,156 
198,071    210,888 

2