Company Registration No. 12771504 (England and Wales)
Fareham.com Limited
Unaudited accounts
for the year ended 31 July 2024
Fareham.com Limited
Unaudited accounts
Contents
Fareham.com Limited
Company Information
for the year ended 31 July 2024
Company Number
12771504 (England and Wales)
Registered Office
137
Gosport Road
Fareham
Hampshire
England
PO16 0PZ
United Kingdom
Accountants
Pure Accounts
3 Cutlers Lane
Stubbington
Fareham
Hants
PO14 2JN
Fareham.com Limited
Statement of financial position
as at 31 July 2024
Tangible assets
4,938
6,109
Investment property
805,614
805,614
Cash at bank and in hand
10,061
8,392
Creditors: amounts falling due within one year
(833,714)
(834,164)
Net current liabilities
(823,653)
(825,772)
Net liabilities
(13,101)
(14,049)
Called up share capital
1
1
Profit and loss account
(13,102)
(14,050)
Shareholders' funds
(13,101)
(14,049)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 October 2024 and were signed on its behalf by
Lee Hemington
Director
Company Registration No. 12771504
Fareham.com Limited
Notes to the Accounts
for the year ended 31 July 2024
Fareham.com Limited is a private company, limited by shares, registered in England and Wales, registration number 12771504. The registered office is 137, Gosport Road, Fareham, Hampshire, England, PO16 0PZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant and machinery, Furniture & Fixtures etc - 25% on reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.
All properties are held for their investment potential and are not depreciated. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation is only one amongst many factors reflected in the valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view
The financial statements for the year ended 31st July 2023 have been prepared on a going concern basis. In making this going concern assessment, all available information about the foreseeable future has been taken into account. The company has the support of it's associated company. Included within other creditors is a balance of £832,820 owed to a company owned by the same director.
Fareham.com Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 August 2023
8,145
-
8,145
At 31 July 2024
8,145
475
8,620
At 1 August 2023
2,036
-
2,036
Charge for the year
1,527
119
1,646
At 31 July 2024
3,563
119
3,682
At 31 July 2024
4,582
356
4,938
At 31 July 2023
6,109
-
6,109
Fair value at 1 August 2023
805,614
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
832,820
832,820
Loans from directors
144
144
Other Creditors - Benosey Loan
Other Creditors - Benosey Loan includes the amount of £ 8,32,820 at the year end. There is no Repayment of Interest or Principal during the year. Please confirm the same.
Accruals
There is Accruals of £ 750 for the year end.
Director's Current Account
The credit balance of Directors Current account is £ 144 as with no movement during the current year.
Corporation Tax
Corporation Tax payble comes to £ Nil as computed after adjusting brought forward Property loss of £ 2594. There is Carried Forward Property Loss of £ 9,420 and Trading Loss of £ 1,813 at the year end.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).