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REGISTERED NUMBER: 04153086 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Fabsec Limited

Fabsec Limited (Registered number: 04153086)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fabsec Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P M Norris
D Thompson
M Palmer
D Hanson





REGISTERED OFFICE: Unit 516 Avenue E East
Thorp Arch Estate
Wetherby
West Yorkshire
LS23 7DB





REGISTERED NUMBER: 04153086 (England and Wales)





ACCOUNTANTS: Evelyn Partners (Leeds) Limited
Accountants
3rd Floor
56 Wellington Street
Leeds
West Yorkshire
LS1 2EE

Fabsec Limited (Registered number: 04153086)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 237 578
237 578

CURRENT ASSETS
Debtors 6 936,653 868,553
Cash at bank and in hand 461,987 477,056
1,398,640 1,345,609
CREDITORS
Amounts falling due within one year 7 12,835 9,250
NET CURRENT ASSETS 1,385,805 1,336,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,386,042

1,336,937

CREDITORS
Amounts falling due after more than one
year

8

2,239,000

2,239,000
NET LIABILITIES (852,958 ) (902,063 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (853,958 ) (903,063 )
(852,958 ) (902,063 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Fabsec Limited (Registered number: 04153086)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2024 and were signed on its behalf by:





P M Norris - Director


Fabsec Limited (Registered number: 04153086)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Fabsec Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fabsec Limited (Registered number: 04153086)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 1,983,401
AMORTISATION
At 1 January 2023
and 31 December 2023 1,983,401
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 11,214
Additions 149
Disposals (2,288 )
At 31 December 2023 9,075
DEPRECIATION
At 1 January 2023 10,636
Charge for year 490
Eliminated on disposal (2,288 )
At 31 December 2023 8,838
NET BOOK VALUE
At 31 December 2023 237
At 31 December 2022 578

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 832,533 863,043
Other debtors 104,120 5,510
936,653 868,553

Fabsec Limited (Registered number: 04153086)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 11,085 5,322
Taxation and social security 1,750 3,928
12,835 9,250

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 2,239,000 2,239,000