Fast Action Services Holding Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13813913 (England and Wales)

Fast Action Services Holding Limited

Unaudited Financial Statements

for the period

22 December 2021 to 31 March 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

P E Hillman

Registered office:

27 Hercules Way

Aero Park

Farnborough

Hampshire

GU14 6UU

Registered number:

13813913 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

250 Fowler Avenue

Farnborough

Hampshire

GU14 7JP

Fixed assets

Investments

4

-

Investment property

5

843,615

843,615

Current assets

Debtors

6

1,476,885

Cash at bank

37,808

1,514,693

Creditors

Amounts falling due within one year

7

215,639

Net current assets

1,299,054

Total assets less current liabilities

2,142,669

Capital and reserves

Called up share capital

8

1,250,000

Retained earnings

9

892,669

Shareholders' funds

2,142,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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 2 August 2023 and were signed by:

P E Hillman - Director

1.	Statutory information

Fast Action Services Holding 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pounds.

The financial statements have been prepared under the historical cost convention. The accounting polices adopted are set out below.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Hence, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of rents receivable net of VAT.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade debtors, other debtors and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised at transaction price.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the period 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 period 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.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction cost.

3.	Employees and directors

The average number of employees during the period was 1 .

4.	Fixed asset investments

Shares in

group

undertakings

£

Cost

Additions

1,859,246

Disposals

(1,859,246

)

At 31 March 2023

-

Net book value

At 31 March 2023

-

5.	Investment property

Total

£

Fair value

Additions

843,615

At 31 March 2023

843,615

Net book value

At 31 March 2023

843,615

6.

Debtors

£

Amounts falling due within one year:

Trade debtors

1,755

Other debtors

225,131

226,886

Amounts falling due after more than one year:

Other debtors

1,249,999

Aggregate amounts

1,476,885

7.

Creditors: amounts falling due within one year

£

Bank loans and overdrafts

196,391

Trade creditors

1,255

Taxation and social security

11,807

Other creditors

6,186

215,639

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1,250,000

Ordinary B

£1

1,250,000

9.

Reserves

Retained

earnings

£

Profit for the period

892,669

At 31 March 2023

892,669

10.	Related party disclosures

Included within other debtors due within one year is an amount of £211,748 owed by a company, connected by the director. Interest of £8,472 has been accrued.

Included within debtors due over one year is an amount of £1,249,999 owed by a company, connected by the director.

Included within other creditors due within one year is an amount of £3,186 due to a company , connected by the director.is an amount owed

Dividends totalling £843,615 were received in respect of shares formally held by the company.

11.	Ultimate controlling party

The controlling party is P E Hillman.