Fitts Ltd

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 10882160

		2018
	Notes	£	£
FIXED ASSETS
Tangible Assets	3		8,112

			8,112
CURRENT ASSETS
Debtors	4	269,432
Cash at bank and in hand		216,937

		486,369
Creditors: Amounts Falling Due Within One Year	5	(283,363 )

NET CURRENT ASSETS (LIABILITIES)			203,006

TOTAL ASSETS LESS CURRENT LIABILITIES			211,118

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,541 )

NET ASSETS			209,577

CAPITAL AND RESERVES
Called up share capital			300
Profit and Loss Account			209,277

SHAREHOLDERS' FUNDS			209,577

Page 1

Fitts Ltd

Balance Sheet (continued)

As at 31 July 2018

For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr James Haworth

18/10/2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% Straight line

1.4. Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

1.5. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.

2. Average Number of Employees

Average number of employees, including directors, during the period was as follows:

	2018
Office and administration	3

	3

3. Tangible Assets


	Computer Equipment
	£
Cost
As at 25 July 2017	-
Additions	10,816

As at 31 July 2018	10,816

Depreciation
As at 25 July 2017	-
Provided during the period	2,704

As at 31 July 2018	2,704

Net Book Value
As at 31 July 2018	8,112

As at 25 July 2017	-

Page 3

Fitts Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2018

4. Debtors

	2018
	£
Due within one year
Trade debtors	259,132
Other debtors	300
Directors' loan accounts	10,000

	269,432

5. Creditors: Amounts Falling Due Within One Year

	2018
	£
Trade creditors	175,205
Corporation tax	55,425
VAT	52,733

	283,363

6. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 25 July 2017	Amounts advanced	Amounts repaid	Amounts written off	As at 31 July 2018
	£	£	£	£	£
Mr Simon Todd	-	10,000	-	-	10,000

The above loan is unsecured, interest free and repayable on demand.

7. Related Party Transactions

During the period the company paid £79,697 to Wessex Gate Servces Limited for sub contract services and received £1,007,217 for sales made to Wessex Gate Services Limited.

The transactions were completed on an arms length basis and the amount outstanding to Fitts Ltd at the year end was £231,896.

Mr James Haworth is a director with a controlling interest in both Fitts Ltd and Wessex Gate Services Limited.

8. General Information

Fitts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10882160. The registered office is 20-22 Wenlock Road , London, N1 7GU.

The presentation currency is £sterling.