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REGISTERED NUMBER: 06070459 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Fane International Limited

Fane International Limited (Registered number: 06070459)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fane International Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N A Barnes
M A Barnes
A J Barnes
M A Oldroyd





REGISTERED OFFICE: Unit 4
Ripley Close
Normanton
WF6 1TB





REGISTERED NUMBER: 06070459 (England and Wales)





ACCOUNTANTS: Lindley Adams Limited Chartered Accountants
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG

Fane International Limited (Registered number: 06070459)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 21,268 23,618
Tangible assets 5 234 1,217
21,502 24,835

CURRENT ASSETS
Stocks 78,584 115,536
Debtors 6 225,349 346,312
Cash at bank and in hand 125,646 204,415
429,579 666,263
CREDITORS
Amounts falling due within one year 7 251,429 390,533
NET CURRENT ASSETS 178,150 275,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,652

300,565

CREDITORS
Amounts falling due after more than one
year

8

(12,147

)

(43,060

)

PROVISIONS FOR LIABILITIES (58 ) (231 )
NET ASSETS 187,447 257,274

CAPITAL AND RESERVES
Called up share capital 517 408
Retained earnings 186,930 256,866
SHAREHOLDERS' FUNDS 187,447 257,274

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

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

Fane International Limited (Registered number: 06070459)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2024 and were signed on its behalf by:





M A Barnes - Director


Fane International Limited (Registered number: 06070459)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Fane International 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. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 - 15% on cost and Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Fane International Limited (Registered number: 06070459)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 171,441
Additions 7,239
At 31 March 2024 178,680
AMORTISATION
At 1 April 2023 147,823
Charge for year 9,589
At 31 March 2024 157,412
NET BOOK VALUE
At 31 March 2024 21,268
At 31 March 2023 23,618

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 26,075
DEPRECIATION
At 1 April 2023 24,858
Charge for year 983
At 31 March 2024 25,841
NET BOOK VALUE
At 31 March 2024 234
At 31 March 2023 1,217

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 56,739 105,939
Other debtors 168,610 240,373
225,349 346,312

Fane International Limited (Registered number: 06070459)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 4,792
Trade creditors 81,787 158,752
Taxation and social security 82,210 135,568
Other creditors 87,432 91,421
251,429 390,533

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 3,618
Other creditors 12,147 39,442
12,147 43,060

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M A Barnes
Balance outstanding at start of year - 12,101
Amounts advanced 61,273 75,542
Amounts repaid (70,954 ) (87,643 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,681 ) -

M A Oldroyd
Balance outstanding at start of year 172 3,106
Amounts advanced 56,957 40,887
Amounts repaid (58,375 ) (43,821 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,246 ) 172

Loans are repayable on demand and interest is charged at 2.25%.