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Financial Statements |
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for the Year Ended 31 December 2017 |
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Fata Automation Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Fata Automation Limited |
Fata Automation Limited (Registered number: 01230401) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Fata Automation Limited |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Fata Automation Limited (Registered number: 01230401) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Fata Automation Limited (Registered number: 01230401) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Fata Automation Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the costs applied to contracts in the period, together with an estimate of attributable profit, |
less foreseeable losses. Attributable profit is an assessment of the overall profit earned on a contract relative to |
the stage of completion. Foreseeable loss is the estimated loss on the completed contract. |
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Tangible fixed assets |
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Office equipment | - |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs |
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. |
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Long term contracts |
Where the outcome of a long-term contract can be estimated reliably, revenue and costs are recognised by |
reference to the stage of completion of the contract activity at the balance sheet date, as measured by the |
proportion that contract costs incurred for work performed to date bear to the estimated total contract costs. |
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised |
as an expense immediately. |
Fata Automation Limited (Registered number: 01230401) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Closed contract costs |
Provision is made for the estimated costs of fulfilling any warranty obligations after the completion of any given |
contract. Provisions are based on historical and projected costs. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Office | Computer |
equipment | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
and 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 71,062 | 72,065 |
Other creditors |
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Accruals and deferred income |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Between one and five years |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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Fata Automation Limited (Registered number: 01230401) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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9. | RELATED PARTY DISCLOSURES |
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During the year the company purchased services from companies under common ownership totalling £445,066 |
(2016 - £29,638). Services were also sold to these companies totalling £939,000 (2016: £104,373). |
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The balance outstanding to FATA Automation Limited at the year end and included in trade debtors, amounted |
to £561,000 (2016: £44,492). |
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The balance outstanding from FATA Automation Limited at the year end and included in trade creditors, totalled |
£17,303. (2016: £29,638) |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is not known. |