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Company registration number: NI065765
Fabrite Holdings Limited
Unaudited filleted abridged financial statements
31 March 2024
Fabrite Holdings Limited
Contents
Directors and other information
Accountant's report
Abridged statement of financial position
Notes to the financial statements
Fabrite Holdings Limited
Directors and other information
Directors Mr Kenneth McAleenon
Mr David McAleenon
Secretary Iris McAleenon
Company number NI065765
Registered office 4C Hallstown Road
Ballinderry Upper
Lisburn
Co Antrim
BT28 2NE
Accountant GDP Accountants Ltd
122A Moore Street
Aughnacloy
Co Tyrone
BT69 6AA
Bankers Danske Bank
62-66 Bow Street
Lisburn
Co Antrim
BT28 1YS
Fabrite Holdings Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Fabrite Holdings Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Fabrite Holdings Limited for the year ended 31 March 2024 as set out on pages 5 to 10 from the company's accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Fabrite Holdings Limited, as a body, in accordance with the terms of my engagement letter dated 17 February 2024. My work has been undertaken solely to prepare for your approval the financial statements of Fabrite Holdings Limited and state those matters that we have agreed to state to the board of directors of Fabrite Holdings Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Fabrite Holdings Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that Fabrite Holdings 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 profit of Fabrite Holdings Limited. You consider that Fabrite Holdings Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Fabrite Holdings Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
GDP Accountants Ltd
Chartered Certified Accountants
122A Moore Street
Aughnacloy
Co Tyrone
BT69 6AA
31 July 2024
Fabrite Holdings Limited
Abridged statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 824,557 814,660
________ ________
824,557 814,660
Current assets
Debtors 40,374 41,940
Cash at bank and in hand 497 27,074
________ ________
40,871 69,014
Creditors: amounts falling due
within one year 6 ( 251,108) ( 188,700)
________ ________
Net current liabilities ( 210,237) ( 119,686)
________ ________
Total assets less current liabilities 614,320 694,974
Creditors: amounts falling due
after more than one year ( 12,929) ( 46,650)
________ ________
Net assets 601,391 648,324
________ ________
Capital and reserves
Called up share capital 51 51
Other reserves 49 49
Profit and loss account 601,291 648,224
________ ________
Shareholders funds 601,391 648,324
________ ________
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
Mr Kenneth McAleenon
Director
Company registration number: NI065765
Fabrite Holdings Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 4C Hallstown Road, Ballinderry Upper, Lisburn, Co Antrim, BT28 2NE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
£
Cost
At 1 April 2023 972,630
Additions 12,100
________
At 31 March 2024 984,730
________
Depreciation
At 1 April 2023 157,970
Charge for the year 2,203
________
At 31 March 2024 160,173
________
Carrying amount
At 31 March 2024 824,557
________
At 31 March 2023 814,660
________
6. Creditors: amounts falling due within one year
The bank loans and overdrafts of £22,586 (2023: £67,757) are secured by a fixed and floating charge over the assets of the company.