Company Registration No. 09342054 (England and Wales)
Fastnet Europe Limited
Unaudited accounts
for the year ended 31 December 2020
Fastnet Europe Limited
Unaudited accounts
Contents
Fastnet Europe Limited
Company Information
for the year ended 31 December 2020
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 2020
Tangible assets
1,886
1,226
Cash at bank and in hand
70,422
34,143
Creditors: amounts falling due within one year
(30,367)
(26,458)
Net current assets
40,058
8,114
Called up share capital
10
10
Profit and loss account
41,934
9,330
Shareholders' funds
41,944
9,340
For the year ending 31 December 2020 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 5 July 2021 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 2020
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 2020
1,820
850
3,481
6,151
Additions
-
-
1,287
1,287
At 31 December 2020
1,820
850
4,768
7,438
At 1 January 2020
1,242
740
2,943
4,925
Charge for the year
144
27
456
627
At 31 December 2020
1,386
767
3,399
5,552
At 31 December 2020
434
83
1,369
1,886
At 31 December 2019
578
110
538
1,226
Fastnet Europe Limited
Notes to the Accounts
for the year ended 31 December 2020
5
Debtors: amounts falling due within one year
2020
2019
Debtors: amounts falling due after more than one year
6
Investments held as current assets
2020
2019
Unlisted investments
50
50
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
73
-
Taxes and social security
10,767
105
Loans from directors
17,242
24,677
8
Average number of employees
During the year the average number of employees was 1 (2019: 1).