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REGISTERED NUMBER: 13035905 (England and Wales)











FW1 NEWQUAY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






FW1 NEWQUAY LIMITED (REGISTERED NUMBER: 13035905)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


FW1 NEWQUAY LIMITED (REGISTERED NUMBER: 13035905)

ABRIDGED BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 252,651 -
Investments 5 202,510 202,510
455,161 202,510

CURRENT ASSETS
Debtors 203,410 238,000
Cash at bank 642 50
204,052 238,050
CREDITORS
Amounts falling due within one year 13,577 49
NET CURRENT ASSETS 190,475 238,001
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,636

440,511

PROVISIONS FOR LIABILITIES (7,747 ) -

ACCRUALS AND DEFERRED INCOME (1,386 ) (1,284 )
NET ASSETS 636,503 439,227

CAPITAL AND RESERVES
Called up share capital 6 100 100
Revaluation reserve 7 25,925 -
Retained earnings 610,478 439,127
SHAREHOLDERS' FUNDS 636,503 439,227

FW1 NEWQUAY LIMITED (REGISTERED NUMBER: 13035905)

ABRIDGED BALANCE SHEET - continued
30 NOVEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





C P Ward - Director


FW1 NEWQUAY LIMITED (REGISTERED NUMBER: 13035905)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

FW1 Newquay Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13035905

Registered office: 3 Weekley Wood Close
Kettering
Northamptonshire
NN14 1UQ

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about FW1 Newquay Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Intangible assets
Intangible assets consist of cryptocurrency.
Cryptocurrency is initially measure at cost and are recorded at fair value at the balance sheet date.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


FW1 NEWQUAY LIMITED (REGISTERED NUMBER: 13035905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
Additions 304,591
Disposals (85,612 )
Revaluations 33,672
At 30 November 2023 252,651
NET BOOK VALUE

At 30 November 2023 252,651

Cost or valuation at 30 November 2023 is represented by:

Totals
£   
Valuation in 2023 33,672
Cost 218,979
252,651

FW1 NEWQUAY LIMITED (REGISTERED NUMBER: 13035905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 December 2022
and 30 November 2023 202,510
NET BOOK VALUE
At 30 November 2023 202,510
At 30 November 2022 202,510

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

7. RESERVES
Revaluation
reserve
£   
Revaluation in year 33,672
Deferred tax (7,747 )

At 30 November 2023 25,925