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REGISTERED NUMBER: 09597146 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Fawks Ltd

Fawks Ltd (Registered number: 09597146)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Fawks Ltd (Registered number: 09597146)

Abridged Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,465 23,269
Investments 5 12,479,740 12,243,758
12,498,205 12,267,027

CURRENT ASSETS
Debtors 655,051 832,045
Investments 148,427 148,427
Cash at bank 210,264 802,202
1,013,742 1,782,674
CREDITORS
Amounts falling due within one year 116,688 289,543
NET CURRENT ASSETS 897,054 1,493,131
TOTAL ASSETS LESS CURRENT LIABILITIES 13,395,259 13,760,158

PROVISIONS FOR LIABILITIES 238,861 275,208
NET ASSETS 13,156,398 13,484,950

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 13,156,298 13,484,850
SHAREHOLDER FUNDS 13,156,398 13,484,950

Fawks Ltd (Registered number: 09597146)

Abridged Balance Sheet - continued
31 May 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2024 and were signed on its behalf by:





Miss D J I Ridley - Director


Fawks Ltd (Registered number: 09597146)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

Fawks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09597146

Registered office: St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN

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 provision of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include certain assets at fair value.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on reducing balance

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors
Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable.

Trade creditors
Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year.

Equity instruments
Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Fawks Ltd (Registered number: 09597146)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Current and fixed asset investments
Current and fixed asset investments are shown at the current market value. Adjustments to the market value are credited or charged to the profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 38,862
DEPRECIATION
At 1 June 2022 15,593
Charge for year 4,804
At 31 May 2023 20,397
NET BOOK VALUE
At 31 May 2023 18,465
At 31 May 2022 23,269

Fawks Ltd (Registered number: 09597146)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals
£
COST
At 1 June 2022 12,243,758
Additions 4,738,287
Disposals (4,084,036 )
Fair value adjustment (487,531 )
Exchange differences 69,262
At 31 May 2023 12,479,740
NET BOOK VALUE
At 31 May 2023 12,479,740
At 31 May 2022 12,243,758





6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Miss D J I Ridley
Balance outstanding at start of year 502,633 652,519
Amounts advanced 207,549 406,054
Amounts repaid (294,893 ) (555,940 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 415,289 502,633

The above represents the highest balance during the year. Interest has been charged on the loan at the HMRC official rate of interest. The loan has been provided with no fixed repayment terms and with no security.