1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 23,496 15,771 39,267 13,774 3,369 17,143 22,124 9,722 xbrli:pure xbrli:shares iso4217:GBP NI045106 2022-02-01 2023-01-31 NI045106 2023-01-31 NI045106 2022-01-31 NI045106 2021-02-01 2022-01-31 NI045106 2022-01-31 NI045106 2021-01-31 NI045106 core:FurnitureFittings 2022-02-01 2023-01-31 NI045106 bus:Director1 2022-02-01 2023-01-31 NI045106 core:FurnitureFittings 2022-01-31 NI045106 core:FurnitureFittings 2023-01-31 NI045106 core:WithinOneYear 2023-01-31 NI045106 core:WithinOneYear 2022-01-31 NI045106 core:ShareCapital 2023-01-31 NI045106 core:ShareCapital 2022-01-31 NI045106 core:RetainedEarningsAccumulatedLosses 2023-01-31 NI045106 core:RetainedEarningsAccumulatedLosses 2022-01-31 NI045106 core:FurnitureFittings 2022-01-31 NI045106 bus:SmallEntities 2022-02-01 2023-01-31 NI045106 bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 NI045106 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 NI045106 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 NI045106 bus:FullAccounts 2022-02-01 2023-01-31
COMPANY REGISTRATION NUMBER: NI045106
Fab Health Limited
Filleted Unaudited Financial Statements
31 January 2023
Fab Health Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
22,124
9,722
Current assets
Stocks
500
500
Cash at bank and in hand
4,032
4,134
-------
-------
4,532
4,634
Creditors: amounts falling due within one year
5
53,056
48,838
--------
--------
Net current liabilities
48,524
44,204
--------
--------
Total assets less current liabilities
( 26,400)
( 34,482)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 26,401)
( 34,483)
--------
--------
Shareholders deficit
( 26,400)
( 34,482)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
Ms P Agnew
Director
Company registration number: NI045106
Fab Health Limited
Accounting Policies
Year ended 31 January 2023
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Fab Health Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 427 Holywood Road, Belfast, BT4 2LT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
4. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 February 2022
23,496
23,496
Additions
15,771
15,771
--------
--------
At 31 January 2023
39,267
39,267
--------
--------
Depreciation
At 1 February 2022
13,774
13,774
Charge for the year
3,369
3,369
--------
--------
At 31 January 2023
17,143
17,143
--------
--------
Carrying amount
At 31 January 2023
22,124
22,124
--------
--------
At 31 January 2022
9,722
9,722
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
53,056
48,838
--------
--------
6. Going concern
The liabilities of the company exceed assets. The sole director of the company has funded the company with a directors loan. The company's going concern status is dependent on this loan remaining in place.