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FFNW LIMITED

Registered Number
11028219
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

FFNW LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

FALLON, Anthony Liam
NEWELL, Joseph
WALKER, Ross

Registered Address

17 Wigginton Road
Tamworth
B79 8RH

Registered Number

11028219 (England and Wales)
FFNW LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3255,000258,451
255,000258,451
Current assets
Debtors837605
Cash at bank and on hand11,303271
12,140876
Creditors amounts falling due within one year(97,737)(90,498)
Net current assets (liabilities)(85,597)(89,622)
Total assets less current liabilities169,403168,829
Creditors amounts falling due after one year4(178,360)(178,360)
Provisions for liabilities(1,060)(1,716)
Net assets(10,017)(11,247)
Capital and reserves
Called up share capital100100
Revaluation reserve4,5197,314
Profit and loss account(14,636)(18,661)
Shareholders' funds(10,017)(11,247)
The financial statements were approved and authorised for issue by the Board of Directors on 10 February 2024, and are signed on its behalf by:
FALLON, Anthony Liam
Director
Registered Company No. 11028219
FFNW LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Rental income is recognised in the period to which it relates.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 22258,451
Additions(3,451)
At 31 October 23255,000
Net book value
At 31 October 23255,000
At 31 October 22258,451
The value of the properties is considered by the directors to be an accurate representation of the fair value at 31 October 2023.
4.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts178,360178,360
Total178,360178,360
The bank loans are secured by fixed charges over the properties owned by the company.