Fusion Systems Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05598231 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st October 2022

for

Fusion Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

5

DIRECTOR:

P W M Tse

REGISTERED OFFICE:

York House

Outgang Lane

Osbaldwick

Yorkshire

YO19 5UP

REGISTERED NUMBER:

05598231 (England and Wales)

ACCOUNTANTS:

SJD Accountancy

12th Floor

30 Crown Place

London

EC2A 2AL

FIXED ASSETS

Tangible assets

4

8,850

16,607

Investments

5

33,000

33,000

41,850

49,607

CURRENT ASSETS

Debtors

6

72,495

60,708

Cash at bank

197,481

173,272

269,976

233,980

CREDITORS

Amounts falling due within one year

7

(100,597

)

(56,903

)

NET CURRENT ASSETS

169,379

177,077

TOTAL ASSETS LESS CURRENT LIABILITIES

211,229

226,684

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

211,227

226,682

SHAREHOLDERS' FUNDS

211,229

226,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 7th February 2023 and were signed by:

P W M Tse - Director

1.	STATUTORY INFORMATION

Fusion Systems 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

-

25% on cost and 25% on reducing balance

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.

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 year was 9 (2021 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st November 2021

88,224

Additions

3,411

At 31st October 2022

91,635

DEPRECIATION

At 1st November 2021

71,617

Charge for year

11,168

At 31st October 2022

82,785

NET BOOK VALUE

At 31st October 2022

8,850

At 31st October 2021

16,607

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st November 2021

and 31st October 2022

33,000

NET BOOK VALUE

At 31st October 2022

33,000

At 31st October 2021

33,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Trade debtors

72,420

60,633

Prepayments

75

75

72,495

60,708

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans and overdrafts

35,870

28,433

Trade creditors

15,779

-

Corporation tax

10,665

2,372

Social security and other taxes

-

1,778

VAT

38,283

13,957

Other creditors

-

10,357

Underpaid Salary

-

6

100,597

56,903

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st October 2022 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

SJD Accountancy

12th Floor

30 Crown Place

London

EC2A 2AL

Date: .............................................