Company Registration No. 10654394 (England and Wales)
Fulham No.1 Limited
Unaudited accounts
for the year ended 31 March 2022
Fulham No.1 Limited
Unaudited accounts
Contents
Fulham No.1 Limited
Company Information
for the year ended 31 March 2022
Directors
P A Burroughs
A J Carey
R J Lotherington
N S Warren
Company Number
10654394 (England and Wales)
Registered Office
Jasmine House
8 Parkway
Welwyn Garden City
Hertfordshire
AL8 6HG
United Kingdom
Fulham No.1 Limited
Statement of financial position
as at 31 March 2022
Cash at bank and in hand
42,680
68,556
Creditors: amounts falling due within one year
(86,628)
(102,076)
Net current liabilities
(1,090)
(6)
Net liabilities
(1,090)
(6)
Called up share capital
4
4
Profit and loss account
(1,094)
(10)
Shareholders' funds
(1,090)
(6)
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 December 2022 and were signed on its behalf by
A J Carey
Director
Company Registration No. 10654394
Fulham No.1 Limited
Notes to the Accounts
for the year ended 31 March 2022
Fulham No.1 Limited is a private company, limited by shares, registered in England and Wales, registration number 10654394. The registered office is Jasmine House, 8 Parkway, Welwyn Garden City , Hertfordshire, AL8 6HG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company has elected to apply the provisions of section 11 ' Basic Financial Instruments' and section 12 'Other Financial
Instruments issues' of FRS 102 to all of its financial instruments.
Basic financial assets, which includes debtors, cash and bank balances, are initially measured a transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement consists a financing transaction, where the transaction is measured at the present valve of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Fulham No.1 Limited
Notes to the Accounts
for the year ended 31 March 2022
The tax expenses represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further includes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Amounts falling due within one year
Trade debtors
14,931
14,931
Other debtors
27,927
17,946
5
Creditors: amounts falling due within one year
2022
2021
Trade creditors
10,859
12,168
Non-equity preference shares
20,567
35,868
Other creditors
55,202
54,040
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
7
Average number of employees
During the year the average number of employees was 4 (2021: 4).
