FACTORY 451 LTD

Company Registration Number:
11010530 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

FACTORY 451 LTD

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Additional notes
Balance sheet notes

FACTORY 451 LTD

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Current assets
Stocks: 3 1,773 2,397
Debtors: 4 50
Cash at bank and in hand: 392 516
Total current assets: 2,165 2,963
Creditors: amounts falling due within one year: 5 ( 1,163 ) ( 1,943 )
Net current assets (liabilities): 1,002 1,020
Total assets less current liabilities: 1,002 1,020
Creditors: amounts falling due after more than one year: 6 ( 11,530 ) ( 10,450 )
Total net assets (liabilities): (10,528) (9,430)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (10,628 ) (9,530 )
Total Shareholders' funds: ( 10,528 ) (9,430)

The notes form part of these financial statements

FACTORY 451 LTD

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption 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 directors acknowledge their 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 28 July 2024
and signed on behalf of the board by:

Name: Miss Fiona Davis
Status: Director

The notes form part of these financial statements

FACTORY 451 LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Other accounting policies

    2.1. Basis of Preparation of Financial StatementsThe financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.2.2. TurnoverTurnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.Sale of goodsTurnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.2.3. Stocks and Work in ProgressStocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

FACTORY 451 LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

FACTORY 451 LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Stocks

2023 2022
£ £
Stocks 1,773 2,397
Total 1,773 2,397

FACTORY 451 LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Debtors

2023 2022
£ £
Other debtors 50
Total   50
Debtors due after more than one year: 11,530 10,450

FACTORY 451 LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 32
Trade creditors 540
Accruals and deferred income 1,163 540
Other creditors 831
Total 1,163 1,943

FACTORY 451 LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Other creditors 11,530 10,450
Total 11,530 10,450