REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
Fabco 1 Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
Fabco 1 Ltd |
Fabco 1 Ltd (Registered number: 11500239) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Fabco 1 Ltd |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Westminster House |
10 Westminster Road |
Macclesfield |
Cheshire |
SK10 1BX |
Fabco 1 Ltd (Registered number: 11500239) |
Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Fabco 1 Ltd (Registered number: 11500239) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Fabco 1 Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The place of business is 15 Rathbone Street, Fitzrovia, London W1T 1NB. |
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Foreign currencies |
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. |
Going concern |
After reviewing the company's financial situation, the directors have a reasonable expectation that the company has adequate resources, including the continuing financial support of its long term intra-group lender, to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | AUDITORS' REMUNERATION |
31.12.22 | 31.12.21 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
1,890 |
1,590 |
Fabco 1 Ltd (Registered number: 11500239) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2022 |
Additions |
Impairments | (295,962 | ) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
The investment property was sold in September 2023 and the Book value of the investment property reflects its fair value at the date of this sale. |
A fixed charge over the company's property assets is held to secure loans made by Park Lane Group Management. The loan is secured by a floating charge over all assets and a fixed charge over certain property assets. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Amounts owed to associates | 1,558,975 | 1,273,355 |
Taxation and social security |
Other creditors |
Fabco 1 Ltd (Registered number: 11500239) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.22 | 31.12.21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | POST BALANCE SHEET EVENTS |
Company has disposed of its investment property in September 2023. |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Argo Holding GmbH, a company incorporated in Germany, whose registered office is at Kienberger Allee 4, 12529, Schoenefeld, Germany. |