Company Registration No. 14230059 (England and Wales)
FEARLESS FULFILMENT LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2023
31 December 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
FEARLESS FULFILMENT LIMITED
CONTENTS
Page
Directors' report
1 - 2
Balance sheet
3
Notes to the financial statements
4 - 6
FEARLESS FULFILMENT LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 1 -

The directors present their annual report and financial statements for the period ended 31 December 2023.

Principal activities

The principal activity of the company is that of providing end-to-end fulfilment solutions to businesses.

Review of the business

The company is a strategic partner to Fearless Adventures Limited, to provide services to the Portfolio and external partners.

 

During the period the company incurred costs to set up its operations and has successfully navigated its way through its first period of trading. The company is now firmly positioned to expand its customer base and grow in the coming months.

 

The directors believe the company will return a profit in the next accounting period.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Mr J McAvoy
(Appointed 12 August 2022)
Mr C Yates
(Appointed 12 July 2022)
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Incorporation

The company was incorporated on 12 July 2022 and commenced trading on this day.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

FEARLESS FULFILMENT LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
On behalf of the board
Mr C Yates
Director
10 April 2024
FEARLESS FULFILMENT LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 3 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
25,681
Current assets
Stocks
500
Debtors
4
91,990
Cash at bank and in hand
975
93,465
Creditors: amounts falling due within one year
5
(209,246)
Net current liabilities
(115,781)
Net liabilities
(90,100)
Capital and reserves
Called up share capital
1
Profit and loss reserves
(90,101)
Total equity
(90,100)

The notes on pages 4 to 6 form part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 10 April 2024 and are signed on its behalf by:
Mr C Yates
Director
Company registration number 14230059 (England and Wales)
FEARLESS FULFILMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Fearless Fulfilment Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 3 First Floor, Grove Chambers, 36 Green Lane, Wilmslow, England, SK9 1LD.

1.1
Reporting period

The financial statements are presented for a period longer than one year due to being the company's first reporting period.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.3
Going concern

During the period the company met its day to day working capital requirements by the financial support of its trueshareholders and companies connected to the directors.

 

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised when a package has been delivered.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% Straight line
Computers
33% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FEARLESS FULFILMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Stocks

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost.

 

There are no stocks held for resale.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
3
FEARLESS FULFILMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 12 July 2022
-
0
-
0
-
0
Additions
30,408
1,525
31,933
At 31 December 2023
30,408
1,525
31,933
Depreciation and impairment
At 12 July 2022
-
0
-
0
-
0
Depreciation charged in the period
5,909
343
6,252
At 31 December 2023
5,909
343
6,252
Carrying amount
At 31 December 2023
24,499
1,182
25,681
4
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
78,912
Other debtors
13,078
91,990
5
Creditors: amounts falling due within one year
2023
£
Trade creditors
76,425
Taxation and social security
7,958
Other creditors
124,863
209,246
6
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
£
23,000
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