REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
Fabarch2 Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
Fabarch2 Ltd |
Fabarch2 Ltd (Registered number: 12570245) |
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 |
Fabarch2 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 |
Fabarch2 Ltd (Registered number: 12570245) |
Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
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 |
Fabarch2 Ltd (Registered number: 12570245) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Fabarch2 Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
Principal place of business is 15 Rathbone Street, London, W1T 1NB. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
680 |
1,500 |
Fabarch2 Ltd (Registered number: 12570245) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
The above asset relates to an option fee paid in order to purchase a property on 6 August 2024. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to associates | 3,346,439 | 2,992,689 |
Taxation and social security |
Other creditors |
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 |
Fabarch2 Ltd (Registered number: 12570245) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
10. | POST BALANCE SHEET EVENTS |
On 31 January 2024, the loan included within these financial statements under creditors falling due within one year, of £3,485,837 was converted into equity of 100 ordinary shares with the nominal value of £100. Any excess paid over the cost of the shares will be recognised in the share premium account. |
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. |