| Fascom Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Fascom Limited for the year ended 31 May 2025 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fascom Limited for the year ended 31 May 2025 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance |
| This report is made solely to the Board of Directors of Fascom Limited, as a body, in accordance with the terms of our engagement letter dated 15 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of Fascom Limited and state those matters that we have agreed to state to the Board of Directors of Fascom Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fascom Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Fascom Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Fascom Limited. You consider that Fascom Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of Fascom Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
|
| MAH, Chartered Accountants |
| 2nd Floor |
| 154 Bishopsgate |
| London |
| EC2M 4LN |
|
| 23 September 2025 |
|
| Fascom Limited |
| Notes to the Accounts |
| for the year ended 31 May 2025 |
|
|
| 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 platform fees and commission fees earned from the rendering of market research consultancy services.
Turnover from the rendering of services is recognised by reference to the period over which the services are performed.
Purchased goodwill represents the excess of the cost of acquisition over the company's interest in the fair value of the identifiable assets and liabilities of a business acquired at the date of acquisition.
Purchased goodwill is recognized as an asset, reviewed for impairment at least annually and carried at cost less accumulated impairment losses. Any impairment is recognised immediately in profit or loss and is not subsequently reversed.Purchased goodwill is deemed to have an indefinite useful life due to the expectation of the acquired business to operate in perpetuity, so is not amortised. |
|
| 2 |
Operating profit and loss |
2025 |
|
2024 |
| £ |
£ |
|
This is stated after charging: |
|
|
Directors' remuneration |
(1,820) |
|
24,500 |
|
|
|
|
|
|
(1,820) |
|
24,500 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 June 2024 |
- |
|
Additions |
1,178 |
|
At 31 May 2025 |
1,178 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2024 |
- |
|
Charge for the year |
393 |
|
At 31 May 2025 |
393 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2025 |
785 |
|
At 31 May 2024 |
- |
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
38,928 |
|
35,941 |
|
Other debtors |
14,844 |
|
16,708 |
|
|
|
|
|
|
53,772 |
|
52,649 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
19,823 |
|
19,823 |
|
Taxation and social security costs |
917 |
|
917 |
|
Other creditors |
1,699 |
|
1,699 |
|
Accruals and deferred income |
1,500 |
|
6,420 |
|
|
|
|
|
|
23,939 |
|
28,859 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Share capital |
Nominal |
Number |
2025 |
|
2024 |
|
|
value |
of share |
£ |
£ |
|
Ordinary shares |
£1 each |
100 |
|
100 |
|
100 |
|
|
|
|
|
|
100 |
|
100 |
|
| 8 |
Profit and loss account |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 June 2024 |
55,025 |
|
59,452 |
|
(Loss)/profit for the financial year |
(9,740) |
|
(4,427) |
|
|
At 31 May 2025 |
45,285 |
|
55,025 |
|
| 9 |
Controlling party |
|
|
Mr Federico Seghizzi controls the company by virtue of his 100% share. |
|
| 10 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
| 11 |
Other information |
|
Fascom Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Flat 11, Sussex Court |
|
31 Spring Street |
|
London |
|
W2 1JF |