Company Registration No. 03512160 (England and Wales)
FABRICON PRECISION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
FABRICON PRECISION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FABRICON PRECISION LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2022
31 August 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
4
2,601
2,601
Current assets
Debtors
5
529,356
272,629
Cash at bank and in hand
16,413
3,877
545,769
276,506
Creditors: amounts falling due within one year
6
(8,116)
(34,853)
Net current assets
537,653
241,653
Net assets
540,254
244,254
Capital and reserves
Called up share capital
83,128
83,128
Share premium account
153,698
153,698
Capital redemption reserve
3,735
3,735
Profit and loss reserves
299,693
3,693
Total equity
540,254
244,254
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 March 2023
M E Bushdyhan
Director
Company Registration No. 03512160
FABRICON PRECISION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
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.
1.6
Company information
Fabricon Precision Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Wellington Centre, Whitelands Road, Ashton-Under-Lyne, Lancashire, OL6 6UY.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
1
1
FABRICON PRECISION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 3 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2021 and 31 August 2022
890,621
Amortisation and impairment
At 1 September 2021 and 31 August 2022
890,621
Carrying amount
At 31 August 2022
At 31 August 2021
4
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
2,601
2,601
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
524,516
269,299
Other debtors
4,840
3,330
529,356
272,629
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
7,120
Amounts owed to group undertakings
33,857
Other creditors
996
996
8,116
34,853