FSG (Kara) Projects Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11857845 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

FSG (Kara) Projects Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Stocks

4,667,089

1,617,034

Debtors

4

197,263

3,716

Cash at bank

1,791,163

465

6,655,515

1,621,215

CREDITORS

Amounts falling due within one year

5

6,624,232

1,624,951

NET CURRENT ASSETS/(LIABILITIES)

31,283

(3,736

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,283

(3,736

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

31,183

(3,836

)

31,283

(3,736

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2023 and were signed by:

H S Dhaliwal - Director

1.	STATUTORY INFORMATION

FSG (Kara) Projects Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11857845

Registered office:

Unit 4 Royal Mills

17 Redhill Street

Ancoats

Greater Manchester

M4 5BA

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Government grants

Government grants are recognised where there is reasonable assurance that the grant will be received and the company will comply with all attached conditions.

Work in progress

Property in the course of development and completed units are valued at the lower cost and net realisable value. Direct costs comprises the cost of land, raw materials and development costs but excludes indirect overheads. Provision is made, where appropriate, to reduce the value of inventories and work in progress to their net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

2,316

-

Other debtors

194,947

3,716

197,263

3,716

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

533,936

138,034

Taxation and social security

6,062

-

Other creditors

6,084,234

1,486,917

6,624,232

1,624,951