Company Registration No. 14495934 (England and Wales)
Fast Fetch Ltd
Unaudited accounts
for the period from 21 November 2022 to 30 November 2023
Fast Fetch Ltd
Unaudited accounts
Contents
Fast Fetch Ltd
Company Information
for the period from 21 November 2022 to 30 November 2023
Directors
Samah Izzeddin
Dareen Amer
Company Number
14495934 (England and Wales)
Registered Office
164 New Cavendish Street
London
London
W1W 6YT
England
Fast Fetch Ltd
Statement of financial position
as at 30 November 2023
Creditors: amounts falling due within one year
(2,476)
Net current liabilities
(2,476)
Called up share capital
100
Profit and loss account
(2,243)
Shareholders' funds
(2,143)
For the period 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 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 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 of Directors and authorised for issue on 17 July 2024 and were signed on its behalf by
Dareen Amer
Director
Company Registration No. 14495934
Fast Fetch Ltd
Notes to the Accounts
for the period from 21 November 2022 to 30 November 2023
Fast Fetch Ltd is a private company, limited by shares, registered in England and Wales, registration number 14495934. The registered office is 164 New Cavendish Street, London, London, W1W 6YT, England.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Computer equipment
33.33% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
As the company is in development stage, no turnover derived for the accounting period.
Expenditure on research and development is written off in the year in which it is incurred.
The directors have considered the period ahead and anticipate reduction in losses in the coming years. The directors believe that with support from the shareholder and creditors continued funding will be provided to support the company whilst it moves towards profitability and to enable it to meet its day-to-day commitments from cashflows. As a consequence, the directors believe that the company is well placed to manage its business risks successfully. As such, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Fast Fetch Ltd
Notes to the Accounts
for the period from 21 November 2022 to 30 November 2023
4
Tangible fixed assets
Computer equipment
5
Creditors: amounts falling due within one year
2023
Loans from directors
2,056
Allotted, called up and fully paid:
100 Ordinary Shares of £1 each
100
Shares issued during the period:
100 Ordinary Shares of £1 each
100
7
Transactions with related parties
Included in other creditors are the amounts of £1,028 and £1,028 owed to S Izzeddin and Ms D Amer respectively.
Both directors are regarding as controlling parties and as such there is no single controlling party.
9
Average number of employees
During the period the average number of employees was 0.