For the year ended 30 April 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 06527407
Fusion 1 Limited
For the year ended 30 April 2015
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements
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For the year ended 30 April 2015
Fusion 1 Limited
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
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Tangible fixed assets, 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:
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Motor Vehicles
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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2,500
2,500
1,094
351
Charge for year
1,445
1,055
1,406
2 of 3
Notes to the Abbreviated Financial Statements
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For the year ended 30 April 2015
Fusion 1 Limited
2015
3
Creditors
:
amounts falling due within one year
|
2014
393
92
Bank loans and overdrafts (secured)
1
,
000
Ordinary shares of £
1
.
00
each
|
Allotted called up and fully paid
|
2015
2014
1
Ordinary shares of £
1
.
00
each
|
1
1
1
1
3 of 3