Company registration number 11559844 (England and Wales)
FOURFIVE GROUP LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FOURFIVE GROUP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
FOURFIVE GROUP LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7
92
Tangible assets
4
2,420
3,898
Investments
5
169,858
159,858
172,285
163,848
Current assets
Debtors falling due within one year
7
3,622
1,382,711
Cash at bank and in hand
275,113
34,152
278,735
1,416,863
Creditors: amounts falling due within one year
8
(40,660)
(48,793)
Net current assets
238,075
1,368,070
Total assets less current liabilities
410,360
1,531,918
Debtors falling due after more than one year
7
1,811,742
-
0
Creditors: amounts falling due after more than one year
9
(450,132)
(461,264)
Net assets
1,771,970
1,070,654
Capital and reserves
Called up share capital
10
89,572
81,455
Share premium account
2,455,213
1,528,131
Profit and loss reserves
(772,815)
(538,932)
Total equity
1,771,970
1,070,654

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 year ended 30 September 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 year 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 24 April 2024 and are signed on its behalf by:
Mr G E J Kruis
Director
Company registration number 11559844 (England and Wales)
FOURFIVE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information

FourFive Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 63/66 Hatton Garden, Fifth Floor, Suite 23, London, EC1N 8LE.

1.1
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.

1.2
Intangible fixed assets other than goodwill

Intangible assets relate to trademark and website development acquired separately from the business and are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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

Intangibles
2 years straight line
1.3
Tangible fixed assets

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

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

Fixtures and fittings
20% straight line
Computer equipment
20% straight line
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

FOURFIVE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

 

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.

1.6
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.

2
Employees

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

2023
2022
Number
Number
Total
8
8
3
Intangible fixed assets
Intangibles
£
Cost
At 1 October 2022 and 30 September 2023
16,588
Amortisation and impairment
At 1 October 2022
16,496
Amortisation charged for the year
85
At 30 September 2023
16,581
Carrying amount
At 30 September 2023
7
At 30 September 2022
92
FOURFIVE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 October 2022 and 30 September 2023
21,063
2,277
23,340
Depreciation and impairment
At 1 October 2022
18,415
1,027
19,442
Depreciation charged in the year
1,026
452
1,478
At 30 September 2023
19,441
1,479
20,920
Carrying amount
At 30 September 2023
1,622
798
2,420
At 30 September 2022
2,648
1,250
3,898
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
169,858
159,858
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 October 2022
159,858
Additions
10,000
At 30 September 2023
169,858
Carrying amount
At 30 September 2023
169,858
At 30 September 2022
159,858
FOURFIVE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
6
Subsidiaries

Details of the company's subsidiaries at 30 September 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Four Five Health Limited
2 Victoria Square, Victoria Street, St. Albans, United Kingdom, AL1 3TF
Ordinary Shares
100.00
Four Five Supplements Limited
2 Victoria Square, Victoria Street, St. Albans, United Kingdom, AL1 3TF
Ordinary Shares
100.00
FourFiveCBD SA (PTY) Ltd
5 Coventry Road, Bryanston, Johannesburg, South Africa, 2191
Ordinary Shares
65.00
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
3,622
1,382,711
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
1,811,742
-
0
Total debtors
1,815,364
1,382,711
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
11,132
11,132
Trade creditors
11,304
18,623
Taxation and social security
9,387
11,968
Other creditors
6,902
5,460
Accruals and deferred income
1,935
1,610
40,660
48,793
FOURFIVE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
9
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
18,554
29,686
Other borrowings
224,237
224,237
Other creditors
207,341
207,341
450,132
461,264
10
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
89,572
81,455
89,572
81,455

During the period 8,117 Ordinary shares of £1 were issued and fully paid.

11
Related party transactions

During the year, the company received a loan from GEJK Limited, a related party. At the year end, the amount of £207,341 (2022 - £207,341) was due to the related party and is included in creditors; amounts falling due after more than one year.

 

FourFive Group Limited and GEJK Limited are related due to having a common director.

12
Directors' transactions

The directors operate a loan account with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn directors' fees. At the year end the amount outstanding to the directors was £224,237 (2022 - £224,237); this amounts being included in creditors: amounts falling due after more than one year.

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