Company Registration No. 08820180 (England and Wales)
Fuel Ventures Limited
Unaudited accounts
for the year ended 31 December 2018
Fuel Ventures Limited
Unaudited accounts
Contents
Fuel Ventures Limited
Company Information
for the year ended 31 December 2018
Director
Mark Alan Pearson
Company Number
08820180 (England and Wales)
Registered Office
Unit 2.05
12-18 Hoxton Street
London
N1 6NG
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Fuel Ventures Limited
Statement of financial position
as at
31 December 2018
Tangible assets
2,157
308
Cash at bank and in hand
143,065
51,242
Creditors: amounts falling due within one year
(548,125)
(352,953)
Net current liabilities
(383,096)
(99,246)
Total assets less current liabilities
(380,939)
(98,938)
Creditors: amounts falling due after more than one year
(344,064)
(204,665)
Net liabilities
(725,003)
(303,603)
Called up share capital
43
43
Profit and loss account
(725,046)
(303,646)
Shareholders' funds
(725,003)
(303,603)
For the year ending 31 December 2018 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.
Approved by the Board on 28 August 2019.
Mark Alan Pearson
Director
Company Registration No. 08820180
Fuel Ventures Limited
Notes to the Accounts
for the year ended 31 December 2018
Fuel Ventures Limited is a private company, limited by shares, registered in England and Wales, registration number 08820180. The registered office is Unit 2.05, 12-18 Hoxton Street, London, N1 6NG, United Kingdom.
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.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
33.33% Straight Line
Computer equipment
33.33% Straight Line
Prior year comparatives have been amended to recognise accounting errors made in the presentation of income in the statements. The impact of the adjustment is to increase Income in Advance by £226,743 and reduce Turnover by £226,743
Fuel Ventures Limited
Notes to the Accounts
for the year ended 31 December 2018
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2018
-
317
317
Additions
958
1,334
2,292
At 31 December 2018
958
1,651
2,609
Charge for the year
266
177
443
At 31 December 2018
266
186
452
At 31 December 2018
692
1,465
2,157
At 31 December 2017
-
308
308
Accrued income and prepayments
3,550
3,733
Other debtors
18,414
84,738
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Creditors: amounts falling due within one year
2018
2017
Trade creditors
35,058
25,464
Taxes and social security
24,434
54,579
Other creditors
488,633
272,910
7
Creditors: amounts falling due after more than one year
2018
2017
Other creditors
344,064
204,665
8
Average number of employees
During the year the average number of employees was 5 (2017: 4).