FC Architectural Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09211088

FC ARCHITECTURAL LIMITED

Unaudited Financial Statements for the Year Ended 30 April 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Little

Mr H Woodlock

Mr J R Rollinson

Mr P D Berry

Mr D G T Rathnapala

REGISTERED OFFICE:

Vincent Court

Hubert Street

Birmingham

England

B6 4BA

REGISTERED NUMBER:

09211088

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Intangible assets

3

25,250

-

Tangible assets

4

77,358

101,209

102,608

101,209

CURRENT ASSETS

Stocks

5

219,086

172,217

Debtors

6

1,372,249

1,106,835

Cash at bank

13,477

124,715

1,604,812

1,403,767

CREDITORS

Amounts falling due within one year

7

1,293,356

1,101,916

NET CURRENT ASSETS

311,456

301,851

TOTAL ASSETS LESS CURRENT LIABILITIES

414,064

403,060

CREDITORS

Amounts falling due after more than one year

8

(102,390

)

(166,667

)

PROVISIONS FOR LIABILITIES

(22,011

)

(15,843

)

NET ASSETS

289,663

220,550

CAPITAL AND RESERVES

Called up share capital

504

504

Share premium

127,746

127,746

Retained earnings

161,413

92,300

289,663

220,550

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 1 November 2023 and were signed on its behalf by:

Mr H Woodlock - Director

1.	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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2022 - 46 ) .

3.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 May 2022

4,042

-

4,042

Additions

-

27,000

27,000

At 30 April 2023

4,042

27,000

31,042

AMORTISATION

At 1 May 2022

4,042

-

4,042

Amortisation for year

-

1,750

1,750

At 30 April 2023

4,042

1,750

5,792

NET BOOK VALUE

At 30 April 2023

-

25,250

25,250

At 30 April 2022

-

-

-

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 May 2022

12,455

30,323

16,707

Additions

-

8,444

-

Disposals

-

(12,621

)

-

At 30 April 2023

12,455

26,146

16,707

DEPRECIATION

At 1 May 2022

7,473

6,505

10,429

Charge for year

2,491

3,452

1,856

Eliminated on disposal

-

(1,479

)

-

At 30 April 2023

9,964

8,478

12,285

NET BOOK VALUE

At 30 April 2023

2,491

17,668

4,422

At 30 April 2022

4,982

23,818

6,278

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2022

128,081

7,902

195,468

Additions

8,000

-

16,444

Disposals

-

(1,951

)

(14,572

)

At 30 April 2023

136,081

5,951

197,340

DEPRECIATION

At 1 May 2022

64,754

5,098

94,259

Charge for year

19,494

977

28,270

Eliminated on disposal

-

(1,068

)

(2,547

)

At 30 April 2023

84,248

5,007

119,982

NET BOOK VALUE

At 30 April 2023

51,833

944

77,358

At 30 April 2022

63,327

2,804

101,209

The net book value of tangible fixed assets includes £NIL (2022 - £ 23,270 ) in respect of assets held under hire purchase contracts.

5.

STOCKS

2023

2022

£

£

Stocks

77,981

67,731

Work-in-progress

141,105

104,486

219,086

172,217

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,281,167

1,007,961

Other debtors

91,082

98,874

1,372,249

1,106,835

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts (see note 9)

55,556

56,371

Hire purchase contracts (see note 10)

-

417

Trade creditors

758,866

816,552

Taxation and social security

157,684

191,189

Other creditors

321,250

37,387

1,293,356

1,101,916

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans (see note 9)

102,390

166,667

9.

LOANS

An analysis of the maturity of loans is given below:

2023

2022

£

£

Amounts falling due within one year or on demand:

Bank loans

55,556

56,371

Amounts falling due between one and two years:

Bank loans - 1-2 years

55,556

55,556

Amounts falling due between two and five years:

Bank loans - 2-5 years

46,834

111,111

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

-

417

Non-cancellable operating

leases

2023

2022

£

£

Within one year

118,965

105,176

Between one and five years

138,165

199,530

257,130

304,706