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

REGISTERED NUMBER: 01824648 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2020

FOR

FIDGET LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N G Allen

Mr P M Andrews

SECRETARY:

Mr P I Powell

REGISTERED OFFICE:

Unit 6

Network 4 Cressex Industrial Estate

Lincoln Road

High Wycombe

Bucks

HP12 3RF

REGISTERED NUMBER:

01824648 (England and Wales)

ACCOUNTANTS:

Richardson Jones

Chartered Accountants

Mercury House

19-21 Chapel Street

Marlow

Buckinghamshire

SL7 3HN

FIXED ASSETS

Tangible assets

4

19,868

26,661

CURRENT ASSETS

Stocks

12,600

10,891

Debtors

5

105,893

81,950

Cash at bank and in hand

4,552

102

123,045

92,943

CREDITORS

Amounts falling due within one year

6

96,289

76,960

NET CURRENT ASSETS

26,756

15,983

TOTAL ASSETS LESS CURRENT LIABILITIES

46,624

42,644

CREDITORS

Amounts falling due after more than one year

7

5,570

36,215

NET ASSETS

41,054

6,429

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

8

40,934

6,309

SHAREHOLDERS' FUNDS

41,054

6,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 3rd March 2021 and were signed on its behalf by:

Mr N G Allen - Director

1.	STATUTORY INFORMATION

Fidget 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 represents the net invoiced value of goods and services supplied by the company, excluding value added tax.

Tangible fixed assets

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

Improvements to property

-

in accordance with the lease

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% 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.

Pension costs and other post-retirement benefits

Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1st June 2019

19,251

66,556

17,392

27,403

130,602

Additions

-

4,952

1,850

-

6,802

At 31st May 2020

19,251

71,508

19,242

27,403

137,404

DEPRECIATION

At 1st June 2019

7,701

57,677

13,005

25,558

103,941

Charge for year

3,850

6,217

2,606

922

13,595

At 31st May 2020

11,551

63,894

15,611

26,480

117,536

NET BOOK VALUE

At 31st May 2020

7,700

7,614

3,631

923

19,868

At 31st May 2019

11,550

8,879

4,387

1,845

26,661

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

90,783

70,300

Other debtors

10,523

7,522

Prepayments

4,587

4,128

105,893

81,950

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans and overdrafts

-

22,952

Finance leases

-

1,365

Trade creditors

42,327

27,514

Corporation tax

8,751

-

Social security and wages

3,050

3,266

Pension control

513

599

VAT

33,823

11,443

Other creditors

6,325

8,321

Accrued expenses

1,500

1,500

96,289

76,960

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Directors loan

5,570

36,215

8.

RESERVES

Retained

earnings

£

At 1st June 2019

6,309

Profit for the year

34,625

At 31st May 2020

40,934

9.	RELATED PARTY DISCLOSURES

During the year, the company entered into the following transactions with PSV Glass & Glazing Limited, a company of which P M Andrews is a director and a shareholder:

Sales to related party £319,707 (2019: £301,227), balance due from related party at 31 May 2019 £26,250 (2098: £31,407).