Facility Monitoring Systems Holdings Limited Filleted accounts for Companies House (small and micro)

Facility Monitoring Systems Holdings Limited Filleted accounts for Companies House (small and micro)

FACILITY MONITORING SYSTEMS HOLDINGS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 04729995
Facility Monitoring Systems Holdings Limited
Filleted Unaudited Financial Statements
31 December 2023
Facility Monitoring Systems Holdings Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
1
1
Current assets
Debtors
5
11
11
Cash at bank and in hand
26,071
5,272
-------
------
26,082
5,283
Creditors: amounts falling due within one year
6
104
90
-------
------
Net current assets
25,978
5,193
-------
------
Total assets less current liabilities
25,979
5,194
Accruals and deferred income
640
725
-------
------
Net assets
25,339
4,469
-------
------
Capital and reserves
Called up share capital
7
2
2
Profit and loss account
25,337
4,467
-------
------
Shareholders funds
25,339
4,469
-------
------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act 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 30 April 2024 , and are signed on behalf of the board by:
S. Wake
Director
Company registration number: 04729995
Facility Monitoring Systems Holdings Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, incorporated and registered in England and Wales with company number 04729995 . The address of the registered office is Unit 5 Beauchamp Business Centre, Sparrowhawk Close, Enigma Business Park, Malvern, Worcestershire, WR14 1GL, England. During the year, on 16 May 2023, the company name was changed from Validair Holdings Limited to Facility Monitoring Systems Holdings Ltd.
2. 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 and rounded to the nearest £.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the director has had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
The company only has basic financial instruments. - Financial Assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
3. Tangible assets
Equipment
Total
£
£
Cost
At 1 January 2023 and 31 December 2023
23,665
23,665
-------
-------
Depreciation
At 1 January 2023 and 31 December 2023
23,665
23,665
-------
-------
Carrying amount
At 31 December 2023
–
–
-------
-------
At 31 December 2022
–
–
-------
-------
4. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
1
----
Impairment
At 1 January 2023 and 31 December 2023
–
----
Carrying amount
At 31 December 2023
1
----
At 31 December 2022
1
----
The company owns 100% of the issued share capital of Facility Monitoring Systems Ltd.
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
11
11
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
104
90
----
----
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 1 each
1
1
1
1
Ordinary B shares of £ 1 each
1
1
1
1
----
----
----
----
2
2
2
2
----
----
----
----
8. Controlling party
The ultimate parent company is SMY Holdings Ltd which is incorporated in England and Wales.