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REGISTERED NUMBER: 13132609 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024

FOR

FAB GROUP LTD

FAB GROUP LTD (REGISTERED NUMBER: 13132609)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAB GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: N E J Griffiths
Mrs W Griffiths





REGISTERED OFFICE: 128 City Road
London
EC1V 2NX





REGISTERED NUMBER: 13132609 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
Chartered Accountants
Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP

FAB GROUP LTD (REGISTERED NUMBER: 13132609)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 5 10 10
Investment property 6 650,000 662,905
650,010 662,915

CURRENT ASSETS
Debtors 7 151,150 163,033
Cash at bank 1,679 4,984
152,829 168,017
CREDITORS
Amounts falling due within one year 8 550,358 559,723
NET CURRENT LIABILITIES (397,529 ) (391,706 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

252,481

271,209

CREDITORS
Amounts falling due after more than one
year

9

449,060

449,112
NET LIABILITIES (196,579 ) (177,903 )

CAPITAL AND RESERVES
Called up share capital 13 23 23
Fair value reserve 14 (148,951 ) (129,991 )
Retained earnings (47,651 ) (47,935 )
SHAREHOLDERS' FUNDS (196,579 ) (177,903 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

FAB GROUP LTD (REGISTERED NUMBER: 13132609)

BALANCE SHEET - continued
31 JANUARY 2024


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 Board of Directors and authorised for issue on 27 September 2024 and were signed on its behalf by:




N E J Griffiths - Director



Mrs W Griffiths - Director


FAB GROUP LTD (REGISTERED NUMBER: 13132609)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Fab Group 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. 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FAB GROUP LTD (REGISTERED NUMBER: 13132609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments 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 and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


FAB GROUP LTD (REGISTERED NUMBER: 13132609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


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.

Going concern
The accounts have been prepared on a going concern basis not withstanding the excess of current liabilities over current assets. The directors have confirmed their intention to continue their support to the company for the foreseeable future.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 February 2023
and 31 January 2024 10
NET BOOK VALUE
At 31 January 2024 10
At 31 January 2023 10

FAB GROUP LTD (REGISTERED NUMBER: 13132609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 662,905
Additions 12,376
Revaluations (25,281 )
At 31 January 2024 650,000
NET BOOK VALUE
At 31 January 2024 650,000
At 31 January 2023 662,905

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2023 (173,321 )
Valuation in 2024 (12,905 )
Cost 836,226
650,000

The property valuation has been provided by the members based on current market conditions.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 95,525 100,025
Other debtors - 12,376
Deferred tax asset 55,625 50,632
151,150 163,033

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 19,241 19,188
Trade creditors - 1,294
Other creditors 12,400 18,000
Directors' current accounts 517,428 520,041
Accruals and deferred income 1,289 1,200
550,358 559,723

FAB GROUP LTD (REGISTERED NUMBER: 13132609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 449,060 449,112

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 372,097 372,360

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 19,241 19,188

Amounts falling due between one and two years:
Bank loans - 1-2 years 19,241 19,188

Amounts falling due between two and five years:
Bank loans - 2-5 years 57,722 57,564

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 372,097 372,360

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage loan 468,300 468,300

The bank loan is secured on the company's investment property.

FAB GROUP LTD (REGISTERED NUMBER: 13132609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


12. DEFERRED TAX
£   
Balance at 1 February 2023 (50,632 )
Provided during year (4,993 )
Balance at 31 January 2024 (55,625 )

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
23 Ordinary £1 23 23

14. RESERVES
Fair
value
reserve
£   
At 1 February 2023 (129,991 )
Transfer (18,960 )

At 31 January 2024 (148,951 )

15. RELATED PARTY DISCLOSURES

Debtors include a loan of £95,525 (2023: £100,025) made to 63 High Street Ltd, a subsidiary of the company. The loan is interest-free and repayable on demand.

Creditors include a loan of £12,400 (2023: £18,000) from Fab Short Stays Ltd, with whom the company has some directors in common. The loan is interest-free and repayable on demand.