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Registration number: 10793167

Fatica Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Fatica Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Fatica Ltd

Company Information

Directors

RP Fatica

MT Fatica

Registered office

104 Estcourt Road
Gloucester
Gloucestershire
GL1 3LH

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Fatica Ltd

(Registration number: 10793167)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,028,299

1,028,299

Current assets

 

Debtors

5

1,694

91,790

Cash at bank and in hand

 

15,598

16,980

 

17,292

108,770

Creditors: Amounts falling due within one year

6

(281,740)

(274,987)

Net current liabilities

 

(264,448)

(166,217)

Total assets less current liabilities

 

763,851

862,082

Creditors: Amounts falling due after more than one year

6

(803,317)

(808,635)

Provisions for liabilities

(12,487)

(12,487)

Net (liabilities)/assets

 

(51,953)

40,960

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(52,053)

40,860

Shareholders' (deficit)/funds

 

(51,953)

40,960

 

Fatica Ltd

(Registration number: 10793167)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
RP Fatica
Director

 

Fatica Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
104 Estcourt Road
Gloucester
Gloucestershire
GL1 3LH
 

These financial statements were authorised for issue by the Board on 20 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Total liabilities exceed current assets at the balance sheet date. The directors consider, however that the company has sufficient liquid assets, to meet its liabilities as and when they fall due, and that the company has sufficient support from its creditors. Accordingly the director considers that it is appropriate to prepare the accounts on a going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also recognised
directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the
financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the
reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is shown at the most recent valuation, which the directors deem to be its fair value. Any agregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

 

Fatica Ltd

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 January

1,028,299

At 31 December

1,028,299

5

Debtors

Current

2023
£

2022
£

Prepayments

1,394

1,790

Other debtors

300

90,000

 

Fatica Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

5,478

5,291

Accruals and deferred income

 

1,680

1,680

Other creditors

 

274,582

268,016

 

281,740

274,987

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

803,317

808,635

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

763,317

768,635

Other borrowings

40,000

40,000

803,317

808,635

 

Fatica Ltd

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

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,438

5,291

Bank overdrafts

40

-

5,478

5,291

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

RP Fatica

Director's loan account

(67,240)

9,311

-

(57,929)

         
       

MT Fatica

Director's loan account

(87,450)

-

(5,000)

(92,450)

         
       

 

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

RP Fatica

Director's loan account

(65,483)

(2,134)

377

(67,240)

         
       

MT Fatica

Director's loan account

(42,450)

(45,000)

-

(87,450)