Company Registration No. 09342054 (England and Wales)
Fastnet Europe Limited
Unaudited accounts
for the year ended 31 December 2019
Fastnet Europe Limited
Unaudited accounts
Contents
Fastnet Europe Limited
Company Information
for the year ended 31 December 2019
Company Number
09342054 (England and Wales)
Registered Office
SUNRISE EVERSLEY ROAD
ARBORFIELD CROSS
READING
RG2 9PQ
Accountants
Easy Accountants
252 High Street
Aldershot
Hampshire
GU12 4LP
Fastnet Europe Limited
Statement of financial position
as at
31 December 2019
Tangible assets
1,226
1,636
Cash at bank and in hand
34,143
58,864
Creditors: amounts falling due within one year
(26,458)
(42,143)
Net current assets
8,114
25,678
Called up share capital
10
10
Profit and loss account
9,330
27,304
Shareholders' funds
9,340
27,314
For the year ending 31 December 2019 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 June 2020 and were signed on its behalf by
R Lavelle
Director
Company Registration No. 09342054
Fastnet Europe Limited
Notes to the Accounts
for the year ended 31 December 2019
Fastnet Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 09342054. The registered office is SUNRISE EVERSLEY ROAD, ARBORFIELD CROSS, READING, RG2 9PQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2019
1,820
850
3,481
6,151
At 31 December 2019
1,820
850
3,481
6,151
At 1 January 2019
1,049
703
2,763
4,515
Charge for the year
193
37
180
410
At 31 December 2019
1,242
740
2,943
4,925
At 31 December 2019
578
110
538
1,226
At 31 December 2018
771
147
718
1,636
Amounts due from group undertakings etc.
-
8,710
Fastnet Europe Limited
Notes to the Accounts
for the year ended 31 December 2019
6
Investments held as current assets
2019
2018
Unlisted investments
50
50
7
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
105
6,097
Loans from directors
24,677
34,391
8
Average number of employees
During the year the average number of employees was 1 (2018: 1).