REGISTERED NUMBER: 06382780 (England and Wales)

Fce (Wales) Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Davies

Mrs S L Davies

SECRETARY:

Mrs S L Davies

REGISTERED OFFICE:

Wern Farm

Tredunnock

Usk

Newport

Monmouthshire

NP15 1PE

REGISTERED NUMBER:

06382780 (England and Wales)

ACCOUNTANTS:

Xeinadin South Wales & West Limited

Accountants & Business Advisors

Suite 2d,

Building 1 Eastern Business Park

St Mellons

Cardiff

CF3 5EA

FIXED ASSETS

Tangible assets

4

79,042

123,248

Investment property

5

1,610,000

1,610,000

1,689,042

1,733,248

CURRENT ASSETS

Stocks

641,000

528,000

Debtors

6

471,544

578,864

Cash at bank

42

41

1,112,586

1,106,905

CREDITORS

Amounts falling due within one year

7

609,641

604,694

NET CURRENT ASSETS

502,945

502,211

TOTAL ASSETS LESS CURRENT LIABILITIES

2,191,987

2,235,459

CREDITORS

Amounts falling due after more than one year

8

(396,792

)

(431,704

)

PROVISIONS FOR LIABILITIES

(104,123

)

(108,562

)

NET ASSETS

1,691,072

1,695,193

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Non distributable reserve

10

993,679

993,679

Retained earnings

696,193

700,314

SHAREHOLDERS' FUNDS

1,691,072

1,695,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr S Davies - Director

1.	STATUTORY INFORMATION

Fce (Wales) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

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 the work performed to date to the estimated contract costs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2023

and 30 September 2024

221,326

33,315

91,460

346,101

DEPRECIATION

At 1 October 2023

160,712

31,403

30,738

222,853

Charge for year

28,405

621

15,180

44,206

At 30 September 2024

189,117

32,024

45,918

267,059

NET BOOK VALUE

At 30 September 2024

32,209

1,291

45,542

79,042

At 30 September 2023

60,614

1,912

60,722

123,248

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2023

and 30 September 2024

122,028

91,460

213,488

DEPRECIATION

At 1 October 2023

77,960

30,738

108,698

Charge for year

23,888

15,180

39,068

At 30 September 2024

101,848

45,918

147,766

NET BOOK VALUE

At 30 September 2024

20,180

45,542

65,722

At 30 September 2023

44,068

60,722

104,790

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

and 30 September 2024

1,610,000

NET BOOK VALUE

At 30 September 2024

1,610,000

At 30 September 2023

1,610,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2022

465,500

Cost

1,144,500

1,610,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade debtors

62,345

119,104

Other debtors

409,199

459,760

471,544

578,864

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans and overdrafts

183,429

215,343

Hire purchase contracts

26,716

34,362

Trade creditors

146,690

165,941

Taxation and social security

61,926

109,643

Other creditors

190,880

79,405

609,641

604,694

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans

382,416

403,574

Hire purchase contracts

14,376

28,130

396,792

431,704

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

254,943

187,996

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.24

30.9.23

£

£

Bank overdrafts

143,234

156,113

Bank loans

422,611

462,804

Hire purchase contracts

41,092

62,492

606,937

681,409

National Westminster bank hold several legal charges over the company's investment properties.

10.

RESERVES

Non

distributable

reserve

£

At 1 October 2023

and 30 September 2024

993,679