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Registration number: 03763935

Fareshape Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Fareshape Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Fareshape Limited

Company Information

Directors

R J Acreman

S N G Barratt

N J B Gravell

P K Ison

T P Lewis

C J Newman

R H Warren

Company secretary

C J Newman

Registered office

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Fareshape Limited

(Registration number: 03763935)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,959,291

2,959,291

Capital and reserves

 

Called up share capital

5

2,000

2,000

Retained earnings

2,957,291

2,957,291

Shareholders' funds

 

2,959,291

2,959,291

For the financial year ending 31 December 2023 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; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2024 and signed on its behalf by:
 

.........................................
C J Newman
Company secretary and director

 

Fareshape Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

2,000

2,957,291

2,959,291

Profit for the year

-

250,000

250,000

Dividends

-

(250,000)

(250,000)

At 31 December 2023

2,000

2,957,291

2,959,291

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

2,000

2,957,291

2,959,291

Profit for the year

-

250,000

250,000

Dividends

-

(250,000)

(250,000)

At 31 December 2022

2,000

2,957,291

2,959,291

 

Fareshape Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

These financial statements were authorised for issue by the Board on 22 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£). All monetary amounts are rounded to the nearest Pound (£).

Group accounts not prepared

In accordance with Section 399 of the Companies Act 2006, exemption has been taken from preparing group accounts on the grounds that the company qualifies as the parent of a small group.

 

Fareshape Limited

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

2

Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

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

 

Fareshape Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,959,291

2,959,291

Subsidiaries

£

Cost or valuation

At 1 January 2023

2,959,291

Carrying amount

At 31 December 2023

2,959,291

At 31 December 2022

2,959,291

 

Fareshape Limited

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

4

Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Rayglow Securities Limited

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

100%

100%

 

England and Wales

     

Subsidiary undertakings

Rayglow Securities Limited

The principal activity of Rayglow Securities Limited is property investment / letting. The loss for the financial period of Rayglow Securities Limited was £15,144 and the aggregate amount of capital and reserves at the end of the period was £5,944,606.

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £0.10 each

10,000

1,000.00

10,000

1,000.00

Ordinary B of £0.10 each

10,000

1,000.00

10,000

1,000.00

 

20,000

2,000

20,000

2,000

 

Fareshape Limited

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

6

Dividends

Final dividends paid

 

2023
£

2022
£

Final dividend of £12.50 per each Ordinary A share

125,000

125,000

Final dividend of £12.50 per each Ordinary B share

125,000

125,000

 

250,000

250,000