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Registered Number: 11327684
England and Wales

 

 

 

FEARLESS YOUTH ASSOCIATION LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
  2024   2023
    £ £   £ £
Fixed assets   44,880      50,049 
Current assets 27,789      57,726   
Creditors: amount falling due within one year (10,581)     (47,837)  
Net current assets   17,208      9,889 
Total assets less current liabilities   62,088      59,938 
Provisions for liabilities   (43)     (16)
Net assets   62,045      59,922 
 

         
Capital and reserves   62,045      59,922 
 
NOTES TO THE ACCOUNTS

General Information
Fearless Youth Association Limited is a private company, limited by guarantee, registered in England and Wales, registration number 11327684, registration address Unit 11, Clarendon Chambers, 32 Clarendon Street, Nottingham, NG1 5LN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2023 11,443    1,150    34,059    46,652 
Additions 1,715    21,188      22,903 
Disposals      
At 31 March 2024 13,158    22,338    34,059    69,555 
Depreciation
At 01 April 2023 5,465        5,465 
Charge for year 1,530    1,826    15,854    19,210 
On disposals      
At 31 March 2024 6,995    1,826    15,854    24,675 
Net book values
Closing balance as at 31 March 2024 6,163    20,512    18,205    44,880 
Opening balance as at 01 April 2023 5,978    19,798    24,273    50,049 


3.

Average number of employees

Average number of employees during the year was 2 (2023 : 6).

4.

Company Limited by Guarantee

The company is limited by guarantee and therefore has no shares.

For the year ended 31 March 2024 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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 04 September 2024 and were signed on its behalf by:


--------------------------------
Angela Wathoni Gathu
Director
1