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Company Registration No. 10849706 (England and Wales)
Fab1Direct Limited Unaudited accounts for the year ended 31 July 2024
Fab1Direct Limited Unaudited accounts Contents
Page
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Fab1Direct Limited Company Information for the year ended 31 July 2024
Director
Justin Barber
Company Number
10849706 (England and Wales)
Registered Office
15 Arundel Gardens 15 Arundel Gardens Winklebury Basingstoke Hampshire RG23 8HQ England
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Fab1Direct Limited Accountants' report
Accountants' report to the director of Fab1Direct Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fab1Direct Limited for the year ended 31 July 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Fab1Direct Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Fab1Direct Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fab1Direct Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fab1Direct Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fab1Direct Limited. You consider that Fab1Direct Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Fab1Direct Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 27 August 2024
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Fab1Direct Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
3,000 
4,000 
Tangible assets
612 
816 
3,612 
4,816 
Current assets
Inventories
28,333 
28,333 
Cash at bank and in hand
14,035 
14,146 
42,368 
42,479 
Creditors: amounts falling due within one year
(16,408)
(21,125)
Net current assets
25,960 
21,354 
Total assets less current liabilities
29,572 
26,170 
Creditors: amounts falling due after more than one year
(14,450)
(14,719)
Net assets
15,122 
11,451 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
15,121 
11,450 
Shareholders' funds
15,122 
11,451 
For the year ending 31 July 2024 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 27 August 2024 and were signed on its behalf by
Justin Barber Director Company Registration No. 10849706
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Fab1Direct Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Fab1Direct Limited is a private company, limited by shares, registered in England and Wales, registration number 10849706. The registered office is 15 Arundel Gardens 15 Arundel Gardens, Winklebury, Basingstoke, Hampshire, RG23 8HQ, 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.
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:
Motor vehicles
25% Reducing balance method
Computer equipment
25% Reducing balance method
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
10,000 
At 31 July 2024
10,000 
Amortisation
At 1 August 2023
6,000 
Charge for the year
1,000 
At 31 July 2024
7,000 
Net book value
At 31 July 2024
3,000 
At 31 July 2023
4,000 
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Fab1Direct Limited Notes to the Accounts for the year ended 31 July 2024
5
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2023
2,000 
1,091 
3,091 
At 31 July 2024
2,000 
1,091 
3,091 
Depreciation
At 1 August 2023
1,644 
631 
2,275 
Charge for the year
89 
115 
204 
At 31 July 2024
1,733 
746 
2,479 
Net book value
At 31 July 2024
267 
345 
612 
At 31 July 2023
356 
460 
816 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
7,645 
5,525 
Taxes and social security
1,054 
- 
Loans from directors
6,186 
13,662 
Accruals
1,523 
1,938 
16,408 
21,125 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
14,450 
14,719 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Justin Barber
Directors Loan Account
(13,662)
(94,512)
(101,988)
(6,186)
(13,662)
(94,512)
(101,988)
(6,186)
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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