Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312024-01-01falseNo description of principal activity192truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12158240 2024-01-01 2024-01-31 12158240 2023-01-01 2023-12-31 12158240 2024-01-31 12158240 2023-12-31 12158240 c:Director1 2024-01-01 2024-01-31 12158240 d:CurrentFinancialInstruments 2024-01-31 12158240 d:CurrentFinancialInstruments 2023-12-31 12158240 d:Non-currentFinancialInstruments 2024-01-31 12158240 d:Non-currentFinancialInstruments 2023-12-31 12158240 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12158240 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12158240 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 12158240 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12158240 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 12158240 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 12158240 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 12158240 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 12158240 d:ShareCapital 2024-01-31 12158240 d:ShareCapital 2023-12-31 12158240 d:RetainedEarningsAccumulatedLosses 2024-01-31 12158240 d:RetainedEarningsAccumulatedLosses 2023-12-31 12158240 c:OrdinaryShareClass1 2024-01-01 2024-01-31 12158240 c:OrdinaryShareClass1 2024-01-31 12158240 c:OrdinaryShareClass1 2023-12-31 12158240 c:FRS102 2024-01-01 2024-01-31 12158240 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-01-31 12158240 c:FullAccounts 2024-01-01 2024-01-31 12158240 c:PrivateLimitedCompanyLtd 2024-01-01 2024-01-31 12158240 7 2024-01-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 12158240












FAME (DEV) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

 

FAME (DEV) LIMITED

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8



 
REGISTERED NUMBER:12158240
FAME (DEV) LIMITED

BALANCE SHEET
AS AT 31 JANUARY 2024

31 January
31 December
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
356,330
241,738

Cash at bank and in hand
  
161,913
94,574

  
518,243
336,312

Creditors: amounts falling due within one year
 5 
(383,009)
(258,310)

Net current assets
  
 
 
135,234
 
 
78,002

Total assets less current liabilities
  
135,234
78,002

Creditors: amounts falling due after more than one year
 6 
(51,092)
(51,351)

  

Net assets
  
84,142
26,651


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
84,141
26,650

Total equity
  
84,142
26,651


Page 1


 
REGISTERED NUMBER:12158240
FAME (DEV) LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S J Taylor
Director

Date: 5 March 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 

FAME (DEV) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

1.


General information

Fame (Dev) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements are presented for a period of one month to 31 January 2024.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, she continues to adopt the going concern basis in preparing the financial statements.

 
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.

Page 3

 

FAME (DEV) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, and bank loans, are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Page 4

 

FAME (DEV) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)





Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.6

Share capital

Ordinary shares are classified as equity.

 
2.7

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is Sterling (£).

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 5

 

FAME (DEV) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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.



3.


Employees

The average monthly number of employees, including directors, during the period was 19 (2023 - 2).


4.


Debtors

31 January
31 December
2024
2023
£
£


Trade debtors
47,619
-

Other debtors
308,711
241,738

356,330
241,738


Page 6

 

FAME (DEV) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

5.


Creditors: Amounts falling due within one year

31 January
31 December
2024
2023
£
£

Bank loans
3,126
3,126

Trade creditors
10,454
14,930

Other creditors
315,180
225,954

Accruals
54,249
14,300

383,009
258,310



6.


Creditors: Amounts falling due after more than one year

31 January
31 December
2024
2023
£
£

Bank loans
16,487
16,746

Other creditors
34,605
34,605

51,092
51,351



7.


Loans


Analysis of the maturity of loans is given below:


31 January
31 December
2024
2023
£
£

Amounts falling due within one year

Bank loans
3,126
3,126


Amounts falling due 2-5 years

Bank loans
13,315
13,315

Amounts falling due after more than 5 years

Bank loans
3,172
3,431

19,613
19,872


The loan bears an interest charge of 2.5% per annum and includes a repayment holiday for a period of 12 months from the date on which the loan is drawn. No interest is payable by the company during this repayment holiday period as the interest charge is paid by the UK government per the terms of the agreement. 

Page 7

 

FAME (DEV) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

8.


Share capital

31 January
31 December
2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



9.


Related party transactions

At the balance sheet date, included within other creditors is an amount of £29,611 (2023: £29,279) owed to the director of the company. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.

 
Page 8