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Registered number: 10333589
FUSE DESIGN & DEVELOP LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2018
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FUSE DESIGN & DEVELOP LIMITED
REGISTERED NUMBER: 10333589
BALANCE SHEET
AS AT 31 AUGUST 2018
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2019.
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FUSE DESIGN & DEVELOP LIMITED
REGISTERED NUMBER: 10333589
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2018
The notes on pages 5 to 8 form part of these financial statements.
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FUSE DESIGN & DEVELOP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2018
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 5 to 8 form part of these financial statements.
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Page 3
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FUSE DESIGN & DEVELOP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2017
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Comprehensive income for the period
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Other comprehensive income for the period
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Total comprehensive income for the period
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Shares issued during the period
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Total transactions with owners
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The notes on pages 5 to 8 form part of these financial statements.
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Page 4
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FUSE DESIGN & DEVELOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018
The entity is a private limited company incorporated in England & Wales.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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The average monthly number of employees, including directors, during the year was 6 (2017 - 6).
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FUSE DESIGN & DEVELOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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Fuse Design & Develop 33 Limited
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Fuse Design & Develop 89 Limited
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The aggregate of the share capital and reserves as at 31 August 2018 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Fuse Design & Develop 33 Limited
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Fuse Design & Develop 89 Limited
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Page 6
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FUSE DESIGN & DEVELOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018
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Amounts owed by group undertakings
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Financial assets measured at fair value through profit or loss
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Financial assets measured at fair value through profit or loss comprise cash at bank.
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Page 7
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FUSE DESIGN & DEVELOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018
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Related party transactions
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The company is the 100% parent company of Fuse Design & Develop 33 Limited and Fuse Design & Develop 89 Limited. FRS 102 does not require disclosure of transactions between group members and the company has taken advantage of this exemption. At period end the company owed Fuse Design & Build Limited £nil (2017 - £32,292). This company was owned jointly by Mr & Mrs Heath who are directors and shareholders of Fuse Design & Develop Limited.
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The company was owned by six individuals, all of whom had equal shareholdings during the period. Therefore no one individual had overall control of the company.
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