Fascias Etc Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 12808946 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

for

Fascias Etc Ltd

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J Solomons

S J Solomons

M D Shah

REGISTERED OFFICE:

Electra House

1a Gilberd Road

Colchester

Essex

CO2 7LR

REGISTERED NUMBER:

12808946 (England and Wales)

ACCOUNTANTS:

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fascias Etc Ltd for the year ended 31 July 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Fascias Etc Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fascias Etc Ltd and state those matters that we have agreed to state to the Board of Directors of Fascias Etc Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fascias Etc Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fascias Etc Ltd. You consider that Fascias Etc Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fascias Etc Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

15 March 2023

FIXED ASSETS

Tangible assets

4

85,548

49,727

CURRENT ASSETS

Stocks

155,026

118,801

Debtors

5

211,256

107,140

Cash at bank and in hand

68,357

29,319

434,639

255,260

CREDITORS

Amounts falling due within one year

6

509,855

243,393

NET CURRENT (LIABILITIES)/ASSETS

(75,216

)

11,867

TOTAL ASSETS LESS CURRENT LIABILITIES

10,332

61,594

PROVISIONS FOR LIABILITIES

9,933

7,294

NET ASSETS

399

54,300

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

395

54,296

399

54,300

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 15 March 2023 and were signed on its behalf by:

J Solomons - Director

1.	STATUTORY INFORMATION

Fascias Etc Ltd 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.

Equipment

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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 5 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2021

59,869

Additions

64,314

Disposals

(5,000

)

At 31 July 2022

119,183

DEPRECIATION

At 1 August 2021

10,142

Charge for year

23,493

At 31 July 2022

33,635

NET BOOK VALUE

At 31 July 2022

85,548

At 31 July 2021

49,727

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

152,623

97,138

Other debtors

58,633

10,002

211,256

107,140

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade creditors

155,275

111,429

Amounts owed to participating interests

264,379

107,145

Taxation and social security

88,263

23,569

Other creditors

1,938

1,250

509,855

243,393

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 July 2022 and the period ended 31 July 2021:

31.7.22

31.7.21

£

£

M D Shah

Balance outstanding at start of year

2,472

-

Amounts advanced

24,576

2,472

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

27,048

2,472

The loan to the director is repayable on demand. Interest is charged at the beneficial loan rate as set by HM Revenue and Customs (2021: the loan was interest-free). The interest charged for the year was in the sum of £205 (2021: £nil).