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Registered number: 14292542









THE FANATICS GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2023

 
THE FANATICS GROUP LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE FANATICS GROUP LIMITED
FOR THE PERIOD ENDED 31 AUGUST 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Fanatics Group Limited for the period ended 31 August 2023 which comprise  the Balance sheet, the Statement of changes in equity and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of The Fanatics Group Limited, as a body, in accordance with the terms of our engagement letter dated 1st August 2023Our work has been undertaken solely to prepare for your approval the financial statements of The Fanatics Group Limited and state those matters that we have agreed to state to the Board of directors of The Fanatics Group Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Fanatics Group Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that The Fanatics Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Fanatics Group Limited. You consider that The Fanatics Group Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of The Fanatics Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Chartered Accountants & Statutory Auditors
  
30 Orange Street
London
United Kingdom
WC2H 7HF
12 August 2024
Page 1

 
THE FANATICS GROUP LIMITED
REGISTERED NUMBER: 14292542

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
Note
£

Fixed assets
  

Tangible assets
  
58,270

  
58,270

Current assets
  

Stocks
  
5,906

Debtors: amounts falling due within one year
 5 
12,903

Cash at bank and in hand
 6 
670

  
19,479

Creditors: amounts falling due within one year
 7 
(199,352)

Net current (liabilities)/assets
  
 
 
(179,873)

Total assets less current liabilities
  
(121,603)

  

Net (liabilities)/assets
  
(121,603)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(121,703)

  
(121,603)


Page 2

 
THE FANATICS GROUP LIMITED
REGISTERED NUMBER: 14292542
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 August 2024.




Clive Hugh Norgaard Morton
Director

The notes on pages 5 to 7 form part of these financial statements.

Page 3

 
THE FANATICS GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 AUGUST 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period

-
(121,703)
(121,703)


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
(121,703)
(121,703)


Contributions by and distributions to owners

Shares issued during the period
100
-
100


Total transactions with owners
100
-
100


At 31 August 2023
100
(121,703)
(121,603)

The notes on pages 5 to 7 form part of these financial statements.

Page 4

 
THE FANATICS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.


General information

The Fanatics Group Limited is a private company limited by share capital, incorporated in England & Wales, registration number 14292542. The address of the registered office is c/o Calder & Co, 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
THE FANATICS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 4.


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
58,270



At 31 August 2023

58,270






Net book value



At 31 August 2023
58,270

Page 6

 
THE FANATICS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

5.


Debtors

2023
£


Other debtors
12,903

12,903


Other debtors include £12,903 receivable to Directors.


6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
670

670



7.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
87,633

Other taxation and social security
719

Other creditors
111,000

199,352


Amounts included in other creditors consist of £111,000 due to a director.

 
Page 7