Registered Number
:
05987714
|
For the year ended 31 December 2017
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2017
FIBRE 7 UK LIMITED
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
FIBRE 7 UK LIMITED
Statement of Financial Position
2016
2017
Property
,
plant and equipment
|
1,035,984
88,037
2
1,035,984
88,037
-
41,089
4
Trade and other receivables
|
262,365
77,609
5
1,619,211
Cash and cash equivalents
|
1,353,388
1,472,086
1,881,576
Trade and other payables
:
amounts falling due within one
|
year
|
(318,382)
(267,603)
6
1,563,194
1,204,483
Net current assets
Total assets less current liabilities
|
2,240,467
1,651,231
Trade and other payables
:
amounts falling due after more
|
than one year
|
(610,000)
(610,000)
7
1,630,467
Net assets
1,041,231
5,371,654
3,271,654
1,981,861
2,052,331
(5,723,048)
(4,282,754)
1,630,467
1,041,231
Shareholders' funds
For the year ended 31 December 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
|
b
)
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
|
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
|
394
and
395
and which otherwise comply with the requirements of the Companies Act
2006
relating to financial
|
statements
,
so far as applicable to the company
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
|
Hans Mann-Kern Ng Director
|
These financial statements were approved and authorised for issue by the Board on 26 April 2018 and were signed by:
|
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For the year ended 31 December 2017
FIBRE 7 UK LIMITED
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the year ended 31 December 2017
FIBRE 7 UK LIMITED
Notes to the Financial Statements
Statutory Information
FIBRE
7
UK LIMITED is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration
|
number
05987714
.
|
Unit 10 Atlantic Trading Estate
Barry
Wales
CF63 3RF
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Land and Buildings
Plant and Machinery
Computer Equipment
Furniture and Fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
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 at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
|
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
3 of 5
For the year ended 31 December 2017
FIBRE 7 UK LIMITED
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
90,678
8,182
11,584
61,417
9,495
992,972
22,292
26,452
835,623
108,605
897,040
38,036
30,474
1,083,650
118,100
Provision for depreciation and impairment
|
2,641
843
348
1,386
64
Charge for year
45,025
4,492
2,269
23,239
15,025
47,666
5,335
2,617
24,625
15,089
103,011
872,415
35,419
25,139
1,035,984
9,431
60,031
11,236
7,339
88,037
3
.
Investments held as fixed assets
|
The company held
100
%
of the issued share capital of Fortified Timber Systems
(
'
FTS
'
)
a company registered in new
|
Zealand
.
It carried out treatment of timber for re
-
sale
,
with the majority of sales to Fibre
7
UK Limited
.
The investment
|
was originally £
204
,
088
at
31
st December
2013
.
This was written off in prior years accounts as the company had
|
ongoing losses
.
|
FTS at
31
st March
2017
has been liquidated
,
therefore all any loans made to and including upto
31
st March
2017
|
have been written off in the accounts
.
|
2016
2017
41,089
-
5
.
Trade and other receivables
|
2016
2017
-
1,500
77,609
260,865
262,365
77,609
In the prior year,£53,586 was due to the company from a former Director.The directors have made full provision against this balance during the current year.
|
4 of 5
For the year ended 31 December 2017
FIBRE 7 UK LIMITED
Notes to the Financial Statements Continued
6
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
45,987
145,927
Taxation and social security
|
72,402
18,939
149,214
153,516
267,603
318,382
7
.
Trade and other payables
:
amounts falling due after more than one year
|
2016
2017
Non
-
equity preference shares
|
610,000
610,000
8
.
Guarantees and other financial commitments
|
The future aggregate minimum lease payments under non
-
cancellable operating leases are as set out below
:
|
Operating leases which expire
:
2017 2016
|
Within one year
137
,
016 130
,
148
|
Within two to five years
384
,
762 515
,
825
|
On 22 January 2018,125,000,000 A Convertible Preference Shares of 1p each were issued,at 2p per share,raising £2.5m.
|
10
.
Average number of persons employed
|
The average number of people employed during the year was 7 (2016:6)
5 of 5