Fimex (International) Ltd - Accounts to registrar (filleted) - small 23.2

FIMEX (INTERNATIONAL) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms M Icel

REGISTERED OFFICE:

3c Cockersdale Works

Whitehall Road

Drighlington

West Yorkshire

BD11 1NQ

REGISTERED NUMBER:

12644927 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Moors House

11 South Hawksworth Street

Ilkley

West Yorkshire

LS29 9DX

FIXED ASSETS

Tangible assets

5

22,669

8,556

CURRENT ASSETS

Stocks

151,000

198,060

Debtors

6

241,230

1,381,605

Cash at bank and in hand

370,729

30,247

762,959

1,609,912

CREDITORS

Amounts falling due within one year

7

899,484

1,710,990

NET CURRENT LIABILITIES

(136,525

)

(101,078

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(113,856

)

(92,522

)

CAPITAL AND RESERVES

Called up share capital

8

300

300

Retained earnings

(114,156

)

(92,822

)

SHAREHOLDERS' FUNDS

(113,856

)

(92,522

)

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

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

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2023 and were signed by:

Ms M Icel - Director

1.	STATUTORY INFORMATION

Fimex (International) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis, on the understanding that the director will support the company financially for a period of 12 months after the approval of the accounts.

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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Income and Retained Earnings over the estimated expected useful life of the asset concerned.

Other grants are credited to the Statement of Income and Retained Earnings either when received or, if appropriate, on a performance basis when the relevant expenditure is incurred or any specific qualifying obligations completed.

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 Statement of Income and Retained Earnings, 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.

4.

EMPLOYEES

The average number of employees during the year was 6 (2021 - 10 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2022

4,218

7,420

11,638

Additions

17,140

3,831

20,971

At 31 December 2022

21,358

11,251

32,609

DEPRECIATION

At 1 January 2022

633

2,449

3,082

Charge for year

3,108

3,750

6,858

At 31 December 2022

3,741

6,199

9,940

NET BOOK VALUE

At 31 December 2022

17,617

5,052

22,669

At 31 December 2021

3,585

4,971

8,556

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

123,433

1,350,649

Other debtors

112,952

18,881

Prepayments

4,845

12,075

241,230

1,381,605

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

471,375

1,297,220

Tax

381

-

VAT

47,291

2,656

Other creditors

370,437

402,114

Accrued expenses

10,000

9,000

899,484

1,710,990

Loans to directors are interest free and repayable on demand.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

300

Ordinary

1

300

300