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Company Registration No. 13048930 (England and Wales)
FAIL FORWARD (SUSSEX) LTD Unaudited accounts for the year ended 30 November 2023
FAIL FORWARD (SUSSEX) LTD Unaudited accounts Contents
Page
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FAIL FORWARD (SUSSEX) LTD Company Information for the year ended 30 November 2023
Director
Patrick Cascante
Company Number
13048930 (England and Wales)
Registered Office
23 DAWES AVENUE WORTHING WEST SUSSEX BN11 2JY UNITED KINGDOM
Accountants
KMG Accountancy Ltd The Offices 57 Newtown Road Hove BN3 7BA
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of FAIL FORWARD (SUSSEX) LTD for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FAIL FORWARD (SUSSEX) LTD for the year ended 30 November 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
KMG Accountancy Ltd Chartered Accountants The Offices 57 Newtown Road Hove BN3 7BA 1 May 2024
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FAIL FORWARD (SUSSEX) LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
4,001 
5,334 
Tangible assets
23,257 
35,496 
27,258 
40,830 
Current assets
Debtors
546 
8,615 
Cash at bank and in hand
11,582 
11,009 
12,128 
19,624 
Creditors: amounts falling due within one year
(26,959)
(35,077)
Net current liabilities
(14,831)
(15,453)
Total assets less current liabilities
12,427 
25,377 
Creditors: amounts falling due after more than one year
(23,069)
(30,042)
Net liabilities
(10,642)
(4,665)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(10,643)
(4,666)
Shareholders' funds
(10,642)
(4,665)
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 May 2024 and were signed on its behalf by
Patrick Cascante Director Company Registration No. 13048930
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FAIL FORWARD (SUSSEX) LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
FAIL FORWARD (SUSSEX) LTD is a private company, limited by shares, registered in England and Wales, registration number 13048930. The registered office is 23 DAWES AVENUE, WORTHING, WEST SUSSEX, BN11 2JY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years
Fixtures & fittings
4 years
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 December 2022
8,000 
At 30 November 2023
8,000 
Amortisation
At 1 December 2022
2,666 
Charge for the year
1,333 
At 30 November 2023
3,999 
Net book value
At 30 November 2023
4,001 
At 30 November 2022
5,334 
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FAIL FORWARD (SUSSEX) LTD Notes to the Accounts for the year ended 30 November 2023
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
142 
48,809 
48,951 
At 30 November 2023
142 
48,809 
48,951 
Depreciation
At 1 December 2022
36 
13,419 
13,455 
Charge for the year
36 
12,203 
12,239 
At 30 November 2023
72 
25,622 
25,694 
Net book value
At 30 November 2023
70 
23,187 
23,257 
At 30 November 2022
106 
35,390 
35,496 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
(1,596)
6,473 
Accrued income and prepayments
2,142 
2,142 
546 
8,615 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
(500)
2,931 
Taxes and social security
540 
58 
Other creditors
60 
- 
Loans from directors
26,209 
31,438 
Accruals
650 
650 
26,959 
35,077 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
23,069 
30,042 
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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