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Company Registration No. 10433922 (England and Wales)
FAMETEX TEXTILE RECYCLING LIMITED Unaudited accounts for the year ended 31 October 2023
FAMETEX TEXTILE RECYCLING LIMITED Unaudited accounts Contents
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FAMETEX TEXTILE RECYCLING LIMITED Company Information for the year ended 31 October 2023
Director
Mohamed Anverali Waljee
Company Number
10433922 (England and Wales)
Registered Office
340 ROBIN HOOD LANE BIRMINGHAM WEST MIDLANDS B28 0EG ENGLAND
Accountants
WNR Associates Limited 63/66 Hatton Garden Fifth Floor Suite 23 London EC1N 8LE
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FAMETEX TEXTILE RECYCLING LIMITED Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,011 
11,011 
Current assets
Inventories
75,000 
75,000 
Debtors
70,440 
70,440 
Cash at bank and in hand
2,088 
2,651 
147,528 
148,091 
Creditors: amounts falling due within one year
(44,757)
(44,758)
Net current assets
102,771 
103,333 
Total assets less current liabilities
113,782 
114,344 
Creditors: amounts falling due after more than one year
(220,000)
(220,000)
Net liabilities
(106,218)
(105,656)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(106,220)
(105,658)
Shareholders' funds
(106,218)
(105,656)
For the year ending 31 October 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 director acknowledges his 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 and authorised for issue on 29 August 2024 and were signed on its behalf by
Mohamed Anverali Waljee Director Company Registration No. 10433922
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FAMETEX TEXTILE RECYCLING LIMITED Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
FAMETEX TEXTILE RECYCLING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10433922. The registered office is 340 ROBIN HOOD LANE, BIRMINGHAM, WEST MIDLANDS, B28 0EG, 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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
25% Reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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FAMETEX TEXTILE RECYCLING LIMITED Notes to the Accounts for the year ended 31 October 2023
Going concern
The company at present is showing a deficit on resources and in the Balance sheet totals. The Director has showed his intention to continue supporting the company financially until such a time as when the company can operate on its own funding. The Director has also showed his intention not to draw down on any loans made to the company until such a time when the company is able to begin repayment without adversely affecting its operations. In light of the above, the director has reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, he continues to adopt the going concern basis in preparing the accounts.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2022
65,034 
At 31 October 2023
65,034 
Depreciation
At 1 November 2022
54,023 
At 31 October 2023
54,023 
Net book value
At 31 October 2023
11,011 
At 31 October 2022
11,011 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
70,440 
70,440 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,752 
3,752 
Trade creditors
73 
73 
Loans from directors
40,932 
40,933 
44,757 
44,758 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
220,000 
220,000 
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FAMETEX TEXTILE RECYCLING LIMITED Notes to the Accounts for the year ended 31 October 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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