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REGISTERED NUMBER: 11260733 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

F.A.M Investment Limited

F.A.M Investment Limited (Registered number: 11260733)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


F.A.M Investment Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr G Auld





REGISTERED OFFICE: 18-24 Grey street
Newcastle
Tyne and Wear
NE1 6AE





REGISTERED NUMBER: 11260733 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

F.A.M Investment Limited (Registered number: 11260733)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 18,428 -
Investment property 6 4,513,430 4,339,197
4,531,858 4,339,197

CURRENT ASSETS
Debtors 7 37,066 94,560
Cash at bank and in hand 74,886 30,830
111,952 125,390
CREDITORS
Amounts falling due within one year 8 (779,932 ) (1,732,065 )
NET CURRENT LIABILITIES (667,980 ) (1,606,675 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,863,878

2,732,522

CAPITAL AND RESERVES
Called up share capital 2,685,467 2,685,467
Share premium 1,230,533 -
Profit and loss account (52,122 ) 47,055
3,863,878 2,732,522

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Mr G Auld - Director


F.A.M Investment Limited (Registered number: 11260733)

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

1. STATUTORY INFORMATION

F.A.M Investment 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.

Last year the company shortened its financial reporting period by three months to 31 December for commercial reasons and covers a nine month accounting period and is therefore not comparable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for property rentals, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company and when specific criteria have been met for each of the company's activities described below.

Property rentals :
Turnover from property rentals are recognised in the profit and loss account on a receivable basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investment property
Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account along with the associated deferred tax.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.


F.A.M Investment Limited (Registered number: 11260733)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - NIL ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 21,786
At 31 December 2023 21,786
DEPRECIATION
Charge for year 3,358
At 31 December 2023 3,358
NET BOOK VALUE
At 31 December 2023 18,428

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 4,339,197
Additions 174,233
At 31 December 2023 4,513,430
NET BOOK VALUE
At 31 December 2023 4,513,430
At 31 December 2022 4,339,197

The fair value of the investment property at 31 December 2023 has been arrived at on the basis of a valuation carried out at that date by the directors of the company who are not professionally qualified valuers.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 36,644 28,028
Other debtors 422 66,532
37,066 94,560

F.A.M Investment Limited (Registered number: 11260733)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 51,186
Trade creditors 12,088 10,730
Taxation and social security 10,658 60
Other creditors 757,186 1,670,089
779,932 1,732,065

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 39,134
Other loans - 1,632,581
- 1,671,715

The bank and other loans are secured via a fixed and floating charge over all of the property of the company and contains a negative pledge.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2023 and the period ended 31 December 2022:

2023 2022
£    £   
Mr G Auld
Balance outstanding at start of year 59,288 (226,179 )
Amounts advanced - 435,467
Amounts repaid (59,288 ) (150,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 59,288

The above loan was interest free, repayable on demand and unsecured.