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REGISTERED NUMBER: 12025042 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

FATE IN MOTION LIMITED

FATE IN MOTION LIMITED (REGISTERED NUMBER: 12025042)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FATE IN MOTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTOR: Mr C J Arscott





REGISTERED OFFICE: Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD





REGISTERED NUMBER: 12025042 (England and Wales)






FATE IN MOTION LIMITED (REGISTERED NUMBER: 12025042)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 10,808 12,153

CURRENT ASSETS
Stocks 400 400
Debtors 6 17,355 4,272
Cash at bank 2,067 9,665
19,822 14,337
CREDITORS
Amounts falling due within one year 7 25,427 10,948
NET CURRENT (LIABILITIES)/ASSETS (5,605 ) 3,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,203

15,542

CREDITORS
Amounts falling due after more than one year 8 (2,854 ) (9,117 )

PROVISIONS FOR LIABILITIES (1,967 ) (950 )
NET ASSETS 382 5,475

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 372 5,465
SHAREHOLDERS' FUNDS 382 5,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 5th September 2024 and were signed by:





Mr C J Arscott - Director


FATE IN MOTION LIMITED (REGISTERED NUMBER: 12025042)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024


1. STATUTORY INFORMATION

Fate In Motion 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% straight line
Computer equipment - 33% straight line

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

FATE IN MOTION LIMITED (REGISTERED NUMBER: 12025042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


3. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and Computer
equipment equipment Totals
£    £    £   
COST
At 1st June 2023 15,885 385 16,270
Additions 2,011 617 2,628
Disposals (300 ) - (300 )
At 31st May 2024 17,596 1,002 18,598
DEPRECIATION
At 1st June 2023 3,732 385 4,117
Charge for year 3,769 204 3,973
Eliminated on disposal (300 ) - (300 )
At 31st May 2024 7,201 589 7,790
NET BOOK VALUE
At 31st May 2024 10,395 413 10,808
At 31st May 2023 12,153 - 12,153

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 125 2,832
Other debtors 17,230 1,440
17,355 4,272

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,600 1,600
Hire purchase contracts 4,663 4,099
Trade creditors 135 -
Taxation and social security 4,968 4,403
Other creditors 14,061 846
25,427 10,948

FATE IN MOTION LIMITED (REGISTERED NUMBER: 12025042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,600 3,200
Hire purchase contracts 1,254 5,917
2,854 9,117

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 5,917 10,016

The hire purchase liability is secured against the assets under finance.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

11. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £4,680.

This amount is in relation to operating lease commitments which are payable within the next year.

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

2024 2023
£    £   
Mr C J Arscott
Balance outstanding at start of year - -
Amounts advanced 15,904 8,854
Amounts repaid (4,870 ) (8,854 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,034 -

This advance to the director was unsecured with interest charged at HMRC approved rates and will be repaid within nine months of the year end.