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REGISTERED NUMBER: 12154447 (England and Wales)












FAS HOLDINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






FAS HOLDINGS LTD (REGISTERED NUMBER: 12154447)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAS HOLDINGS LTD

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: C L Secrett
J B Secrett
N Laundy
G Secrett





REGISTERED OFFICE: Wey Court West
Union Road
Farnham
Surrey
GU9 7PT





REGISTERED NUMBER: 12154447 (England and Wales)





ACCOUNTANTS: Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT

FAS HOLDINGS LTD (REGISTERED NUMBER: 12154447)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 2,283,255 2,283,255

CURRENT ASSETS
Debtors 5 951 951

CREDITORS
Amounts falling due within one year 6 (545,647 ) (545,647 )
NET CURRENT LIABILITIES (544,696 ) (544,696 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,738,559

1,738,559

CREDITORS
Amounts falling due after more than
one year

7

(1,735,578

)

(1,735,578

)
NET ASSETS 2,981 2,981

CAPITAL AND RESERVES
Called up share capital 2,981 2,981
2,981 2,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

FAS HOLDINGS LTD (REGISTERED NUMBER: 12154447)

BALANCE SHEET - continued
31 December 2023


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 Board of Directors and authorised for issue on 14 September 2024 and were signed on its behalf by:





G Secrett - Director


FAS HOLDINGS LTD (REGISTERED NUMBER: 12154447)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Fas Holdings Ltd 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Fas Holdings Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

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.


FAS HOLDINGS LTD (REGISTERED NUMBER: 12154447)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 2,283,255
NET BOOK VALUE
At 31 December 2023 2,283,255
At 31 December 2022 2,283,255

FAS Holdings Ltd owns 100% of the shares of F.A. Secrett Ltd, a company incorporated in the UK.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 951 951

FAS HOLDINGS LTD (REGISTERED NUMBER: 12154447)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 545,647 545,647

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Loan notes 2026 1,735,578 1,735,578

The Loan Notes 2026 are unsecured and interest free. They are repayable in full on 31 December 2026 to the extent that they have not been repaid in prior years. Provisions exist for part repayment of the loan notes on an annual basis linked to the performance of the group. Any unpaid performance related amounts are reflected within Current Liabilities.

8. ULTIMATE CONTROLLING PARTY

The controlling party is C L Secrett.