Abbreviated Company Accounts - FUSION LABS LIMITED

FUSION LABS LIMITED - Company Information

04573251 FUSION LABS LIMITED 2015-10-31 false 2014-11-01 2015-10-31 true 04573251 2014-11-01 2015-10-31 04573251 2015-10-31 04573251 2014-10-31 04573251 uk-gaap-cd-bus:Director1 2014-11-01 2015-10-31 04573251 uk-gaap-cd-bus:Director2 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 iso4217:GBP shares

Registered Number 04573251

FUSION LABS LIMITED

Abbreviated Accounts

31 October 2015

FUSION LABS LIMITED Registered Number 04573251

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	31,764	31,764
		31,764	31,764
Current assets
Stocks		24,250	21,500
Debtors		24,544	41,019
Cash at bank and in hand		130	1,394
		48,924	63,913
Creditors: amounts falling due within one year	3	(39,143)	(45,406)
Net current assets (liabilities)		9,781	18,507
Total assets less current liabilities		41,545	50,271
Creditors: amounts falling due after more than one year	3	(19,375)	(33,087)
Total net assets (liabilities)		22,170	17,184
Capital and reserves
Called up share capital	4	78,000	78,000
Share premium account		25,000	25,000
Profit and loss account		(80,830)	(85,816)
Shareholders' funds		22,170	17,184

For the year ending 31 October 2015 the company was entitled to exemption 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 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 July 2016

And signed on their behalf by:
Martin Monnickendam, Director

FUSION LABS LIMITED Registered Number 04573251

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised on invoicing of a sale.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life.

Website development See below

Intangible assets amortisation policy
Website development costs
The company intents to amortise the cost of its retail website over a period of five years once the platform is fully developed and is in operation use. Costs of development, that meet the requirements of UITF Abstract 29 issued by the Accounting Standards Board, are included within tangible fixed assets as the costs are incurred.

Other accounting policies
Stock
Stocks are valued at the lower of cost and net realisable value.

Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

2Tangible fixed assets

	£
Cost
At 1 November 2014	31,764
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	31,764
Depreciation
At 1 November 2014	-
Charge for the year	-
On disposals	-
At 31 October 2015	-
Net book values
At 31 October 2015	31,764
At 31 October 2014	31,764

3Creditors

	2015 £	2014 £
Secured Debts	14,139	49,267

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
78,000 Ordinary shares of £78,000 each	6,084,000,000	6,084,000,000