F2IT Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05781095 (England and Wales)

Financial Statements for the Period 1 May 2019 to 5 May 2020

for

F2IT Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Lazar

R Havard-Davies

A Mene

M Raoss

L Tonello

REGISTERED OFFICE:

164 Field End Road

Eastcote

Middlesex

HA5 1RH

REGISTERED NUMBER:

05781095 (England and Wales)

FIXED ASSETS

Tangible assets

4

26,793

33,693

CURRENT ASSETS

Debtors

5

147,741

986,900

Cash at bank and in hand

588,710

360,305

736,451

1,347,205

CREDITORS

Amounts falling due within one year

6

124,707

110,369

NET CURRENT ASSETS

611,744

1,236,836

TOTAL ASSETS LESS CURRENT
LIABILITIES

638,537

1,270,529

CAPITAL AND RESERVES

Called up share capital

142

Share premium

379,928

Retained earnings

258,467

890,459

SHAREHOLDERS' FUNDS

638,537

1,270,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 5 May 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 5 May 2020 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2020 and were
signed on its behalf by:

M Lazar - Director

1.	STATUTORY INFORMATION

F2IT 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

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.

Plant and machinery etc

-

20% on cost

Taxation

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

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 period was 10 (2019 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

86,395

Additions

3,620

At 5 May 2020

90,015

DEPRECIATION

At 1 May 2019

52,702

Charge for period

10,520

At 5 May 2020

63,222

NET BOOK VALUE

At 5 May 2020

26,793

At 30 April 2019

33,693

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.5.20

30.4.19

£

Trade debtors

147,428

160,935

Other debtors

313

825,965

147,741

986,900

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.5.20

30.4.19

£

Trade creditors

10,735

3,499

Taxation and social security

105,776

98,106

Other creditors

8,196

8,764

124,707

110,369

7.	RELATED PARTY DISCLOSURES

Included under other debtors is an amount of £NIL (2019: £820,906) due from F2IT Holdings Ltd. F2IT

Holdings Ltd is the ultimate controlling party of the company and also a company that M Lazar and R Davies are

also directors and shareholders of.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party was F2IT Holdings Ltd due to its 100% shareholding in the company.

F2IT Limited - Accounts to registrar (filleted) - small 18.2

F2IT Limited - Accounts to registrar (filleted) - small 18.2