| FULD & COMPANY LIMITED |
| Registered number: |
04049822 |
| Balance Sheet |
| as at 31 December 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Current assets |
| Debtors |
3 |
|
1,635 |
|
|
3,673 |
| Cash at bank and in hand |
|
|
7,636 |
|
|
9,392 |
|
|
|
9,271 |
|
|
13,065 |
|
| Creditors: amounts falling due within one year |
4 |
|
(5,520) |
|
|
(5,100) |
|
| Net current assets |
|
|
|
3,751 |
|
|
7,965 |
|
| Total assets less current liabilities |
|
|
|
3,751 |
|
|
7,965 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(86,543) |
|
|
(85,781) |
|
|
|
| Net liabilities |
|
|
|
(82,792) |
|
|
(77,816) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100,000 |
|
|
100,000 |
| Profit and loss account |
|
|
|
(182,792) |
|
|
(177,816) |
|
| Shareholders' funds |
|
|
|
(82,792) |
|
|
(77,816) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Sucharita Choudhury |
| Director |
| Approved by the board on 10 August 2021 |
|
| FULD & COMPANY LIMITED |
| Notes to the Accounts |
| for the year ended 31 December 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). In these financial statements, the company is considered to be a qualifying entity (for the purposes of FRS) and has applied the exemptions available under FRS102 in respect of the following disclosures |
|
- Reconcilaition of the number of shares outstanding from the beginning to end of the perid |
|
- Cash Flow Statement and related notes |
|
- Disclosure of related party transactions between the Company and other companies in its group |
|
|
Turnover |
|
Revenues from research, analysis and consulting arrangements are recorded as the services are performed. Provisions for estimated losses on uncompleted engagements are recognised in the period in which losses are determined. |
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Other debtors |
1,635 |
|
3,673 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Non-equity preference shares |
750 |
|
3,000 |
|
Other creditors |
4,770 |
|
2,100 |
|
|
|
|
|
|
5,520 |
|
5,100 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
86,543 |
|
85,781 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Controlling party and Group Accounts |
|
|
Fuld & Company Limited is a wholly owned subsidiary of Fuld & Company Inc. and the results of Fuld & Company Limited are included in the consolidated financial statements of the ultimate parent undertaking, Accretio Investments Pte Ltd, which are publicly available and may be obtained from 2 Kallang Avenue, 06-30 CT Hub, Singapore, 339407. Consequently the company has adopted following disclosure exemptions: |
|
- the requirement to present a statement of cash flows and related notes |
|
- financial instrument disclosures, including: |
|
categories of fiancial instruments, |
|
items of income, expenses, gains or lossess relating to financial instruments, and |
|
exposure to and management of financial risks |
|
| 7 |
Other information |
|
|
Fuld & Company Limited is incorporated in England and Wales. The registered office is |
|
7 Tenterden Gardens |
|
Croydon |
|
Surrey |
|
CR0 6NL |
