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

REGISTERED NUMBER: 05103486 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

FIDGENS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Berridge

Mr S C Berridge

SECRETARY:

Mrs L A Berridge

REGISTERED OFFICE:

139-141 Watling Street

Gillingham

Kent

ME7 2YY

REGISTERED NUMBER:

05103486 (England and Wales)

ACCOUNTANTS:

Stephen Hill Partnership Limited

139-141 Watling Street

Gillingham

Kent

ME7 2YY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

21,833

28,905

21,833

28,905

CURRENT ASSETS

Debtors

6

367,233

282,612

Cash at bank

27,702

13,885

394,935

296,497

CREDITORS

Amounts falling due within one year

7

111,546

144,380

NET CURRENT ASSETS

283,389

152,117

TOTAL ASSETS LESS CURRENT LIABILITIES

305,222

181,022

CREDITORS

Amounts falling due after more than one year

8

69,333

-

NET ASSETS

235,889

181,022

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

235,886

181,019

SHAREHOLDERS' FUNDS

235,889

181,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 13 August 2021 and were signed on its behalf by:

Mr J Berridge - Director

1.	STATUTORY INFORMATION

Fidgens 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 and value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Office furniture

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.

Government grants

Government grants received in support of the coronavirus pandemic are recognised only when there is reasonable assurance that the entity will comply with any conditions attached to the grant and that the grant will be received.

The grant is recognised as income over the period necessary to match them with the related costs, for which they are intended to compensate.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Taxation

Taxation for the year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2020

and 30 April 2021

1,000,000

AMORTISATION

At 1 May 2020

and 30 April 2021

1,000,000

NET BOOK VALUE

At 30 April 2021

-

At 30 April 2020

-

5.	TANGIBLE FIXED ASSETS

Office

Motor

Computer

furniture

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2020

398

44,534

8,152

53,084

Additions

-

-

3,825

3,825

At 30 April 2021

398

44,534

11,977

56,909

DEPRECIATION

At 1 May 2020

398

15,629

8,152

24,179

Charge for year

-

9,635

1,262

10,897

At 30 April 2021

398

25,264

9,414

35,076

NET BOOK VALUE

At 30 April 2021

-

19,270

2,563

21,833

At 30 April 2020

-

28,905

-

28,905

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

48,118

29,900

Other debtors

319,115

252,712

367,233

282,612

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

12,024

14,643

Hire purchase contracts

4,059

29,693

Taxation and social security

82,457

47,828

Other creditors

13,006

52,216

111,546

144,380

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

46,033

-

Hire purchase contracts

23,300

-

69,333

-

9.	RELATED PARTY DISCLOSURES

During the year the company loaned Marbleacre Designer Homes Limited the amount of £252,712 (2020 £251,713) which is still due as at the year end. This company is owned by Mr J Berridge and Mr S C Berridge.