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REGISTERED NUMBER: 09822815 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

5 FATHOMS LIMITED

5 FATHOMS LIMITED (REGISTERED NUMBER: 09822815)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


5 FATHOMS LIMITED

COMPANY INFORMATION
for the year ended 31 October 2023







DIRECTORS: S Batchelar
B L Davis





REGISTERED OFFICE: Rume2 Sussex House
Crane Street
Chichester
West Sussex
PO19 1LJ





REGISTERED NUMBER: 09822815 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

5 FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,905 6,310

CURRENT ASSETS
Debtors 5 4,872 34,130
Cash at bank 64,803 64,703
69,675 98,833
CREDITORS
Amounts falling due within one year 6 (40,779 ) (62,557 )
NET CURRENT ASSETS 28,896 36,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,801

42,586

CREDITORS
Amounts falling due after more than one
year

7

(14,455

)

(22,715

)

PROVISIONS FOR LIABILITIES 8 (1,122 ) (1,325 )
NET ASSETS 19,224 18,546

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 19,124 18,446
SHAREHOLDERS' FUNDS 19,224 18,546

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

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

5 FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

BALANCE SHEET - continued
31 October 2023


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 3 April 2024 and were signed on its behalf by:




S Batchelar - Director



B L Davis - Director


5 FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2023

1. STATUTORY INFORMATION

5 Fathoms Limited 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 (£).


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 represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue is recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment-Straight line over 4 years
Fixtures & fittings-Straight line over 4 years

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

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.

5 FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in 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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022 1,137 12,062 13,199
Additions - 3,980 3,980
Disposals - (3,770 ) (3,770 )
At 31 October 2023 1,137 12,272 13,409
DEPRECIATION
At 1 November 2022 477 6,412 6,889
Charge for year 284 1,892 2,176
Eliminated on disposal - (1,561 ) (1,561 )
At 31 October 2023 761 6,743 7,504
NET BOOK VALUE
At 31 October 2023 376 5,529 5,905
At 31 October 2022 660 5,650 6,310

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 2,082 2,561
Other debtors 2,790 31,569
4,872 34,130

5 FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 8,260 8,260
Trade creditors 2,856 1,099
Taxation and social security 23,016 14,183
Other creditors 6,647 39,015
40,779 62,557

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 14,455 22,715

8. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 1,122 1,325

Deferred
tax
£   
Balance at 1 November 2022 1,325
Movement in year (203 )
Balance at 31 October 2023 1,122

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
B L Davis
Balance outstanding at start of year 13,651 9,475
Amounts advanced - 30,192
Amounts repaid (13,651 ) (26,016 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 13,651

5 FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Batchelar
Balance outstanding at start of year 13,591 -
Amounts advanced - 39,994
Amounts repaid (13,591 ) (26,403 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 13,591

Director's loan is repayable on demand and interest has been charged at 2% per annum.