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REGISTERED NUMBER: 07804572 (England and Wales)


















Fade Out Limited

Unaudited Financial Statements for the Year Ended 31st March 2023






Fade Out Limited (Registered number: 07804572)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fade Out Limited

Company Information
for the year ended 31st March 2023







DIRECTORS: G Lynch-Staunton
S A Lynch-Staunton
G M Percy





SECRETARY: L R Hill





REGISTERED OFFICE: Newbury House
Aintree Avenue
White Horse Business Park
Trowbridge
Wiltshire
BA14 0XB





REGISTERED NUMBER: 07804572 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Fade Out Limited (Registered number: 07804572)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 222,250 266,700
Tangible assets 5 3,000 4,500
225,250 271,200

CURRENT ASSETS
Stocks 300,400 124,220
Debtors 6 71,982 96,648
372,382 220,868
CREDITORS
Amounts falling due within one year 7 573,133 538,421
NET CURRENT LIABILITIES (200,751 ) (317,553 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,499

(46,353

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 24,498 (46,354 )
SHAREHOLDERS' FUNDS 24,499 (46,353 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th November 2023 and were signed on its behalf by:




G Lynch-Staunton - Director


Fade Out Limited (Registered number: 07804572)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Fade Out Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Sale of goods:
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery- 10%

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Fade Out Limited (Registered number: 07804572)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Brands and licences
Brands and licences are initially measured at cost and amortised in equal annual instalments over 20 years based on the directors' estimate of their useful economic life. They are tested for impairment whenever events give rise to concerns over their carrying value and are assessed by comparing the carrying value of the assets to the higher of net realisable value and value in use.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2022
and 31st March 2023 889,000
AMORTISATION
At 1st April 2022 622,300
Charge for year 44,450
At 31st March 2023 666,750
NET BOOK VALUE
At 31st March 2023 222,250
At 31st March 2022 266,700

Fade Out Limited (Registered number: 07804572)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2022
and 31st March 2023 7,500
DEPRECIATION
At 1st April 2022 3,000
Charge for year 1,500
At 31st March 2023 4,500
NET BOOK VALUE
At 31st March 2023 3,000
At 31st March 2022 4,500

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed by group undertakings 71,982 96,648

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 573,133 481,891
Other creditors - 56,530
573,133 538,421