Fuse 8 Group Limited Filleted accounts for Companies House (small and micro)

FUSE 8 GROUP LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07891999

Fuse 8 Group Limited

Filleted financial statements

31 March 2023

Fuse 8 Group Limited

Statement of financial position

31 March 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Investments	4		–		160,000

Current assets

Debtors	5	–		1,086,998
Cash at bank and in hand		–		320
		----		-----------
		–		1,087,318
		----		-----------
Net current assets			–		1,087,318
			----		-----------
Total assets less current liabilities			–		1,247,318
			----		-----------

Capital and reserves

Called up share capital	–	121
Share premium account	–	1,086,963
Capital redemption reserve	–	15
Profit and loss account	–	160,219
	----	-----------
Shareholders funds	–	1,247,318
	----	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 22 December 2023 , and are signed on behalf of the board by:

Mr A M Saigar

Director

Company registration number: 07891999

Fuse 8 Group Limited

Notes to the financial statements

year ended 31st March 2023

1. General information

The principal activity of the company during the year was that of a holding company . The company is a private company limited by shares registered in England and Wales (no 07891999 ). The address of the registered office is Grafton House, 2-3 Golden Square, London W1F 9HR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Investments

	Shares in group undertakings
	£

Cost
At 1st April 2022	250,000
Disposals	( 250,000)
	---------
At 31st March 2023	–
	---------
Impairment
At 1st April 2022	90,000
Disposals	( 90,000)
	---------
At 31st March 2023	–
	---------

Carrying amount
At 31st March 2023	–
	---------
At 31st March 2022	160,000
	---------

5. Debtors

	2023	2022
	£	£

Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	1,086,998
	----	-----------

6. Contingencies

TC Loans Limited hold fixed and floating charges over all present and future interests of the company.

7. Summary audit opinion

The auditor's report for the year dated 22 December 2023 was unqualified .

The senior statutory auditor was James Hunt BA (Hons) MA FCA CTA , for and on behalf of Sagars Accountants Ltd .

8. Controlling party

The company's immediate parent undertaking is UNRVLD Holdings Limited, a company incorporated in England and Wales. Copies of the consolidated financial statements can be obtained from 2-3 Golden Square, London, England, W1F 9HR. There is no single ultimate controlling party.