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REGISTERED NUMBER: 11500239 (England and Wales)















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: J A Heinrich
C R Nichol



REGISTERED OFFICE: 27 Old Gloucester Street
London
United Kingdom
WC1N 3AX



REGISTERED NUMBER: 11500239 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Melissa Bowers FCCA



AUDITORS: Harts Limited
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 2,585,425 2,834,386

CURRENT ASSETS
Debtors 6 60,946 41,190
Cash at bank 48,810 31,124
109,756 72,314
CREDITORS
Amounts falling due within one year 7 3,760,616 3,316,540
NET CURRENT LIABILITIES (3,650,860 ) (3,244,226 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,065,435

)

(409,840

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (1,065,535 ) (409,940 )
SHAREHOLDERS' FUNDS (1,065,435 ) (409,840 )

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

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 7 February 2024 and were signed on its behalf by:





C R Nichol - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 2,834,386
Additions 47,001
Impairments (295,962 )
At 31 December 2022 2,585,425
NET BOOK VALUE
At 31 December 2022 2,585,425
At 31 December 2021 2,834,386

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 31,944 -
Other debtors 29,002 41,190
60,946 41,190

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 76,974 33,260
Amounts owed to associates 1,558,975 1,273,355
Taxation and social security - 123
Other creditors 2,124,667 2,009,802
3,760,616 3,316,540

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: £    £   
100 Ordinary £1 100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Melissa Bowers FCCA (Senior Statutory Auditor)
for and on behalf of Harts Limited

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.