FUZION SYSTEMS LTD


Directors	Mr Justin Peter Barber
	Mr Jamie Mark Gunn


Registered Address	Unit 16 Brooke Industrial Park
	Norwich Road Brooke
	Norwich
	NR15 1HJ


Registered Number	05887007 (England and Wales)

Notes to the Financial Statements
for the year ended 30 December 2024

1.	Accounting policies

	Statutory information
	Fuzion Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 05887007. The registered office is UNIT 16 BROOKE INDUSTRIAL PARK, NORWICH ROAD BROOKE, NORWICH, NORFOLK, NR15 1HJ.

	Statement of compliance
	The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

	Functional and presentation currency
	The accounts are presented in £ sterling.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.

	Tangible fixed assets and depreciation
	Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:


		Straight line (years)
	Plant and machinery	4
	Fixtures and fittings	5
	Office Equipment	5

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other 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.

Trade and other 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.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other 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.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 31 December 23	43,659	43,659
At 30 December 24	43,659	43,659
Amortisation and impairment
At 31 December 23	40,367	40,367
Charge for year	2,183	2,183
At 30 December 24	42,550	42,550
Net book value
At 30 December 24	1,109	1,109
At 30 December 23	3,292	3,292

5.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 31 December 23	58,233	450	1,746	60,429
At 30 December 24	58,233	450	1,746	60,429
Depreciation and impairment
At 31 December 23	58,233	180	699	59,112
Charge for year	-	91	348	439
At 30 December 24	58,233	271	1,047	59,551
Net book value
At 30 December 24	-	179	699	878
At 30 December 23	-	270	1,047	1,317

6.	Stocks

	2024	2023
	£	£
Other stocks	90,999	79,050
Total	90,999	79,050

7.	Debtors: amounts due within one year

	2024	2023
	£	£
Amounts owed by group undertakings	99,076	99,481
Other debtors	16,147	19,273
Total	115,223	118,754

8.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	127,770	138,175
Bank borrowings and overdrafts	171	196
Taxation and social security	13,957	20,212
Other creditors	99,585	98,506
Accrued liabilities and deferred income	7,129	5,830
Total	248,612	262,919

9.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	105,414	86,285
Total	105,414	86,285

10.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	378	-
Total	378	-

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	4		1,109		3,292
Tangible assets	5		878		1,317
			1,987		4,609
Current assets
Stocks	6	90,999		79,050
Debtors	7	115,223		118,754
Cash at bank and on hand		874		20,392
		207,096		218,196
Creditors amounts falling due within one year	8	(248,612)		(262,919)
Net current assets (liabilities)			(41,516)		(44,723)
Total assets less current liabilities			(39,529)		(40,114)
Creditors amounts falling due after one year	9		(105,414)		(86,285)
Provisions for liabilities	10		(378)		-
Net assets			(145,321)		(126,399)
Capital and reserves
Called up share capital			300		300
Profit and loss account			(145,621)		(126,699)
Shareholders' funds			(145,321)		(126,399)