REGISTERED NUMBER: 11093553 (England and Wales)

Financial Statements for the Period 1st January 2024 to 30th June 2025

for

Fibex Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Jones

R Barnes

SECRETARIES:

A M Jones

L S Bailey

REGISTERED OFFICE:

Unit 1 Vale Industrial Estate

Stourport Road

Kidderminster

West Midlands

DY11 7QU

REGISTERED NUMBER:

11093553 (England and Wales)

ACCOUNTANTS:

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Intangible assets

4

11,655

15,235

Tangible assets

5

273,551

143,059

285,206

158,294

CURRENT ASSETS

Stocks

427,634

493,224

Debtors

2,555,292

611,601

Cash at bank and in hand

443,808

153,633

3,426,734

1,258,458

CREDITORS

Amounts falling due within one year

3,153,343

941,886

NET CURRENT ASSETS

273,391

316,572

TOTAL ASSETS LESS CURRENT LIABILITIES

558,597

474,866

CREDITORS

Amounts falling due after more than one year

(50,557

)

(60,948

)

PROVISIONS FOR LIABILITIES

(67,486

)

(27,181

)

NET ASSETS

440,554

386,737

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

440,454

386,637

440,554

386,737

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th June 2025 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.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30th June 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st May 2026 and were signed on its behalf by:

A M Jones - Director

1.	STATUTORY INFORMATION

Fibex Limited 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

Sales contracts that have been specifically negotiated for the construction of assets or installations are accounted for as construction contracts, where contract revenue and contract costs associated with the construction contract are recognised as revenue and expenses respectively by reference to the stage of completion of the contract activity at the end of the reporting period.

Sales of other goods, including accessories and spare parts, not sold as part of construction contracts are recognised when such goods have been delivered to the customer.

Sales or maintenance and other services are recognised in line with the delivery of such services to customers, using the percentage of completion method.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition.

TAXATION

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

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.

GOVERNMENT GRANTS

Income from Government Grants is recognised in the profit and loss in the same period in which the related expense is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2024

17,805

Additions

2,355

At 30th June 2025

20,160

AMORTISATION

At 1st January 2024

2,570

Amortisation for period

5,935

At 30th June 2025

8,505

NET BOOK VALUE

At 30th June 2025

11,655

At 31st December 2023

15,235

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2024

276,288

Additions

226,640

Disposals

(7,500

)

At 30th June 2025

495,428

DEPRECIATION

At 1st January 2024

133,229

Charge for period

96,148

Eliminated on disposal

(7,500

)

At 30th June 2025

221,877

NET BOOK VALUE

At 30th June 2025

273,551

At 31st December 2023

143,059

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2023

£

£

Net obligations repayable:

Within one year

14,749

-

Between one and five years

47,387

-

62,136

-

Non-cancellable

operating leases

2025

2023

£

£

Within one year

94,250

-

Between one and five years

353,437

-

447,687

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2023

£

£

Bank loans

41,168

98,201

Hire purchase contracts

62,136

-

103,304

98,201

The bank loan is secured by a fixed and floating charge over the company's assets and a negative pledge.

Hire purchase contracts are secured over the tangible fixed assets to which they relate.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30th June 2025 and the year ended 31st December 2023:

2025

2023

£

£

A M Jones

Balance outstanding at start of period

22,204

22,204

Amounts advanced

175,645

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

197,849

22,204

9.	PARENT COMPANY

The parent company is Fibex Composites Limited, whose registered office is Unit 1 Vale Industrial Estate, Stourport Road, Kidderminster, West Midlands, DY11 7QU.