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REGISTERED NUMBER: 08073294 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Active Fakenham Ltd

Active Fakenham Ltd (Registered number: 08073294)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


Active Fakenham Ltd (Registered number: 08073294)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £ £
Fixed assets
Tangible assets 5 7,378 6,435

Current assets
Stocks 671 1,970
Debtors 6 85 85
Cash at bank and in hand 4,261 12,721
Total assets less current liabilities 12,395 21,211

Reserves
Retained earnings 12,395 21,211
12,395 21,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 8 March 2024 and were signed on its behalf by:





Mr R G Crook - Director


Active Fakenham Ltd (Registered number: 08073294)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. Statutory information

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

Registered number: 08073294

Registered office: Harp House
Wells Road
Fakenham
Norfolk
NR21 9HJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Given the straightforward operations and financial position of the company, there are not considered to be any key sources of judgement or estimation uncertainty within these financial statements.

Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% p.a. reducing balance
Computer equipment - 15% p.a. reducing balance

Active Fakenham Ltd (Registered number: 08073294)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance related conditions on the recipient, it is recognised in income when he grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Active Fakenham Ltd (Registered number: 08073294)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Active Fakenham Ltd (Registered number: 08073294)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 July 2022 5,290 4,910 10,200
Additions - 2,103 2,103
At 30 June 2023 5,290 7,013 12,303
Depreciation
At 1 July 2022 2,241 1,524 3,765
Charge for year 457 703 1,160
At 30 June 2023 2,698 2,227 4,925
Net book value
At 30 June 2023 2,592 4,786 7,378
At 30 June 2022 3,049 3,386 6,435

Active Fakenham Ltd (Registered number: 08073294)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. Debtors: amounts falling due within one year
30.6.23 30.6.22
£ £
Other debtors 85 85

7. Related party disclosures

Crook De Lyon Ltd

A company in which Mr Crook is also a director.


In the year £3,500 (2022: £845) was paid to Crook De Lyon Ltd for delivery of services.