Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31false2022-02-01provision of urban landscape architectural services5055truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04583067 2022-02-01 2023-01-31 04583067 2021-02-01 2022-01-31 04583067 2023-01-31 04583067 2022-01-31 04583067 c:Director2 2022-02-01 2023-01-31 04583067 d:Buildings d:LongLeaseholdAssets 2022-02-01 2023-01-31 04583067 d:Buildings d:LongLeaseholdAssets 2023-01-31 04583067 d:Buildings d:LongLeaseholdAssets 2022-01-31 04583067 d:FurnitureFittings 2022-02-01 2023-01-31 04583067 d:FurnitureFittings 2023-01-31 04583067 d:FurnitureFittings 2022-01-31 04583067 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04583067 d:OfficeEquipment 2022-02-01 2023-01-31 04583067 d:OfficeEquipment 2023-01-31 04583067 d:OfficeEquipment 2022-01-31 04583067 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04583067 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04583067 d:Goodwill 2022-02-01 2023-01-31 04583067 d:Goodwill 2023-01-31 04583067 d:Goodwill 2022-01-31 04583067 d:CurrentFinancialInstruments 2023-01-31 04583067 d:CurrentFinancialInstruments 2022-01-31 04583067 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 04583067 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 04583067 d:ShareCapital 2023-01-31 04583067 d:ShareCapital 2022-01-31 04583067 d:RetainedEarningsAccumulatedLosses 2023-01-31 04583067 d:RetainedEarningsAccumulatedLosses 2022-01-31 04583067 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 04583067 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-01-31 04583067 c:OrdinaryShareClass1 2022-02-01 2023-01-31 04583067 c:OrdinaryShareClass1 2022-01-31 04583067 c:OrdinaryShareClass2 2022-02-01 2023-01-31 04583067 c:OrdinaryShareClass2 2022-01-31 04583067 c:OrdinaryShareClass3 2022-02-01 2023-01-31 04583067 c:OrdinaryShareClass3 2022-01-31 04583067 c:OrdinaryShareClass4 2022-02-01 2023-01-31 04583067 c:OrdinaryShareClass4 2023-01-31 04583067 c:FRS102 2022-02-01 2023-01-31 04583067 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 04583067 c:FullAccounts 2022-02-01 2023-01-31 04583067 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 04583067 2 2022-02-01 2023-01-31 04583067 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 04583067 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 04583067 d:Goodwill d:OwnedIntangibleAssets 2022-02-01 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04583067










FABRIK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
FABRIK LIMITED
REGISTERED NUMBER: 04583067

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
36,000
40,000

Tangible assets
 5 
119,360
137,296

  
155,360
177,296

Current assets
  

Work in progress
  
13,780
82,901

Debtors: amounts falling due within one year
 6 
1,091,988
1,033,998

Cash at bank and in hand
 7 
401,094
169,481

  
1,506,862
1,286,380

Creditors: amounts falling due within one year
 8 
(435,871)
(459,268)

Net current assets
  
 
 
1,070,991
 
 
827,112

Total assets less current liabilities
  
1,226,351
1,004,408

Provisions for liabilities
  

Deferred tax
 10 
(26,477)
(22,986)

  
 
 
(26,477)
 
 
(22,986)

Net assets
  
1,199,874
981,422


Capital and reserves
  

Called up share capital 
  
106
106

Profit and loss account
  
1,199,768
981,316

  
1,199,874
981,422


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
FABRIK LIMITED
REGISTERED NUMBER: 04583067
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 October 2023.




Mr. A. Smith
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

The entity is a private limited company, incorporated in England and Wales. The Registered Office is located at Lenten House, 16 Lenten Street, Alton, Hampshire, GU34 1HG. The principal activities are that of landscape and urban design.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and the reducing balance basis.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
10 years straight line
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 50 (2022 - 55).

Page 7

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2022
90,000



At 31 January 2023

90,000



Amortisation


At 1 February 2022
50,000


Charge for the year on owned assets
4,000



At 31 January 2023

54,000



Net book value



At 31 January 2023
36,000



At 31 January 2022
40,000



Page 8

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Tangible fixed assets





L/Term Leasehold Property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2022
24,280
93,464
181,032
298,776


Additions
-
3,960
25,923
29,883



At 31 January 2023

24,280
97,424
206,955
328,659



Depreciation


At 1 February 2022
10,407
70,480
80,593
161,480


Charge for the year on owned assets
2,428
6,323
39,068
47,819



At 31 January 2023

12,835
76,803
119,661
209,299



Net book value



At 31 January 2023
11,445
20,621
87,294
119,360



At 31 January 2022
13,873
22,984
100,439
137,296


6.


Debtors

2023
2022
£
£


Trade debtors
739,583
675,837

Amounts owed by group undertakings
259,823
20,000

Other debtors
53,305
282,084

Prepayments and accrued income
39,277
56,077

1,091,988
1,033,998


Page 9

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
401,094
169,481

401,094
169,481



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
31,666
71,735

Corporation tax
58,326
21,777

Other taxation and social security
256,513
228,192

Other creditors
55,119
109,138

Accruals and deferred income
34,247
28,426

435,871
459,268



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
401,094
169,481




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


10.


Deferred taxation




2023


£






At beginning of year
(22,986)


Charged to profit or loss
(3,491)



At end of year
(26,477)

Page 10

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(26,477)
(22,986)

(26,477)
(22,986)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



Nil (2022 - 100) Ordinary 'A' shares of £1.00 each
-
100
Nil (2022 - 4) Ordinary 'B' shares of £1.00 each
-
4
Nil (2022 - 2) Ordinary 'C' shares of £1.00 each
-
2
106 (2022 - Nil) Ordinary shares of £1.00 each
106
-

106

106

The previous categories of Ordinary 'A', 'B', and 'C' shares were all exchanged for Ordinary shares during the year as part of the acquisition agreement. 



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £138,552 (2022 - £170,379). Contributions totalling £17,552 (2022 - £18,119) were payable to the fund at the balance sheet date.


13.


Related party transactions

At year end Fabrik Limited was owed £259,823 (2022 £20,000) by it's immediate parent company, Fabrik Holdings Limited.  This balance is to be cleared after year end. 


14.


Controlling party

The ultimate parent company is Fabrik Trustees Limited, which is owned entirely by a trust, which is known as 'the fabrik Employee Ownership Trust'. This company has the same Registered Office address as Fabrik Limited. 

 
Page 11