REGISTERED NUMBER: 07440318 (England and Wales)

Financial Statements for the Year Ended 31st December 2024

for

Fulcom Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J C Fulthorpe

REGISTERED OFFICE:

14 Waterside Business Park

Cardiff

CF3 2ET

REGISTERED NUMBER:

07440318 (England and Wales)

FIXED ASSETS

Tangible assets

4

108,975

139,370

CURRENT ASSETS

Stocks

4,000

2,000

Debtors

5

228,310

222,566

Cash at bank and in hand

2,061

2,355

234,371

226,921

CREDITORS

Amounts falling due within one year

6

247,538

206,890

NET CURRENT (LIABILITIES)/ASSETS

(13,167

)

20,031

TOTAL ASSETS LESS CURRENT LIABILITIES

95,808

159,401

CREDITORS

Amounts falling due after more than one year

7

131,846

183,647

NET LIABILITIES

(36,038

)

(24,246

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(36,048

)

(24,256

)

SHAREHOLDERS' FUNDS

(36,038

)

(24,246

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and Director's Report has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th December 2025 and were signed by:

Mr J C Fulthorpe - Director

1.	STATUTORY INFORMATION

Fulcom 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

25% on reducing balance and 20% on 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement and Director's Report, 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 13 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

229,266

Additions

1,674

Disposals

(15,040

)

At 31st December 2024

215,900

DEPRECIATION

At 1st January 2024

89,896

Charge for year

27,243

Eliminated on disposal

(10,214

)

At 31st December 2024

106,925

NET BOOK VALUE

At 31st December 2024

108,975

At 31st December 2023

139,370

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

Plant and

machinery

etc

£

COST

At 1st January 2024

139,104

Transfer to ownership

(12,874

)

At 31st December 2024

126,230

DEPRECIATION

At 1st January 2024

37,196

Charge for year

20,381

Transfer to ownership

(7,188

)

At 31st December 2024

50,389

NET BOOK VALUE

At 31st December 2024

75,841

At 31st December 2023

101,908

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

203,769

210,865

Other debtors

24,541

11,701

228,310

222,566

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

13,725

13,725

Hire purchase contracts

19,418

23,008

Trade creditors

14,357

34,084

Taxation and social security

95,961

43,426

Other creditors

104,077

92,647

247,538

206,890

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

24,385

38,501

Hire purchase contracts

61,607

81,542

Other creditors

45,854

63,604

131,846

183,647

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

81,025

104,550

9.	RELATED PARTY DISCLOSURES

Mr J Fulthorpe a director and shareholder of the company has given personal guarantees for company borrowing as at the balance sheet date of £130,216 (2023: £133,580).