Fast Forward Speakers Limited
Fast Forward Speakers Limited
Registered number: 09816245
Unaudited Financial Statements
For The Year Ended 31 October 2023
Fast Forward Speakers Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Fast Forward Speakers Limited
Balance Sheet
As At
31 October 2023
Balance Sheet
Registered number:
09816245
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 164,935 | 172,434 | |||
Fast Forward Speakers Limited
Balance Sheet (continued)
As At
31 October 2023
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Fast Forward Speakers Limited
Notes to the Financial Statements
For The Year Ended 31 October 2023
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
1.5.
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.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
Fast Forward Speakers Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2023
3.
Tangible Assets
| Motor Vehicles | |
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| £ | |
| Cost | |
| As at 1 November 2022 |
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| As at 31 October 2023 |
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| Depreciation | |
| As at 1 November 2022 |
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| Provided during the period |
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| As at 31 October 2023 |
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| Net Book Value | |
| As at 31 October 2023 |
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| As at 1 November 2022 |
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4.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other taxes and social security |
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5.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| VAT |
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| Accruals and deferred income |
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| Director's loan account |
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Fast Forward Speakers Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2023
7.
Dividends
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| Final dividend paid | - |
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| 45,388 | 223,615 | ||
8.
Related Party Transactions
At the balance sheet date, included within creditors due within one year, is an amount of £1,414 (2022 - £1,574) owed to the director L C Birkinshaw. This loan is interest free, of no fixed term and repayable on demand.
During the year dividends of £9,000 (2022: £151,000) were paid to the director by virtue of her shareholding.
The controlling party is the company director by virtue of her shareholding.
9.
General Information
Fast Forward Speakers Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
09816245
. The registered office is Bank House, 81 St Judes Road, Englefield Green, Surrey, TW20 0DF.