Fuse Management Ltd - Accounts to registrar (filleted) - small 18.2
Fuse Management Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31st July 2019 |
| for |
| Fuse Management Ltd |
| Fuse Management Ltd (Registered number: 08411939) |
| Contents of the Financial Statements |
| for the Year Ended 31st July 2019 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Fuse Management Ltd |
| Company Information |
| for the Year Ended 31st July 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Thorneloe House |
| 25 Barbourne Road |
| Worcester |
| Worcestershire |
| WR1 1RU |
| Fuse Management Ltd (Registered number: 08411939) |
| Abridged Balance Sheet |
| 31st July 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Undistributable reserve | 7 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Fuse Management Ltd (Registered number: 08411939) |
| Abridged Balance Sheet - continued |
| 31st July 2019 |
| 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 signed on its behalf by: |
| Fuse Management Ltd (Registered number: 08411939) |
| Notes to the Financial Statements |
| for the Year Ended 31st July 2019 |
| 1. | STATUTORY INFORMATION |
| Fuse Management Ltd is a |
| 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 |
| TURNOVER |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| INVESTMENT PROPERTY |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| fair value is recognised in profit or loss. |
| TAXATION |
| Taxation for the year 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2018 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1st August 2018 |
| and 31st July 2019 | 15,312 |
| NET BOOK VALUE |
| At 31st July 2019 | 15,312 |
| At 31st July 2018 | 15,312 |
| Fuse Management Ltd (Registered number: 08411939) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st July 2019 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st August 2018 |
| Revaluations | (15,000 | ) |
| At 31st July 2019 |
| NET BOOK VALUE |
| At 31st July 2019 |
| At 31st July 2018 |
| If the investment property had not been revalued it would have been included at the following historical cost:- |
| Year ended 31 July 2019 £166,464 |
| Year ended 31 July 2018 £166,464 |
| The Investment properly was valued on an open market basis by the Directors at £210,000. |
| The Directors have provided their best estimate of the open market value of the property at the year end. |
| 6. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| All company bank loans are secured by a personal guarantee from the directors. |
| 7. | RESERVES |
| Undistributable |
| reserve |
| £ |
| At 1st August 2018 |
| Revaluation | (15,000 | ) |
| Deferred tax | 2,850 |
| At 31st July 2019 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31st July 2019 and |
| 31st July 2018: |
| 2019 | 2018 |
| £ | £ |
| J G Broadway |
| Balance outstanding at start of year | 403 | 1,267 |
| Amounts advanced | - | 403 |
| Amounts repaid | (711 | ) | (1,267 | ) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | (308 | ) | 403 |
| Fuse Management Ltd (Registered number: 08411939) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st July 2019 |
| 9. | GOING CONCERN |
| The Balance sheet shows net liabilities at 31 July 2019 of £26,680. The directors have agreed to support the |
| company for the foreseeable future. |