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Fabrik Homes Limited
Financial Statements
For The Year Ended 31 May 2024
TaxAssist Accountants
133 Station Road
Sidcup
DA15 7AA
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13381069
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 199 299
Investment Properties 5 207,724 200,415
207,923 200,714
CURRENT ASSETS
Debtors 6 744 1,146
Cash at bank and in hand 1,239 2,379
1,983 3,525
Creditors: Amounts Falling Due Within One Year 7 (146,956 ) (140,529 )
NET CURRENT ASSETS (LIABILITIES) (144,973 ) (137,004 )
TOTAL ASSETS LESS CURRENT LIABILITIES 62,950 63,710
Creditors: Amounts Falling Due After More Than One Year 8 (66,550 ) (66,535 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (38 ) (57 )
NET LIABILITIES (3,638 ) (2,882 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (3,738 ) (2,982 )
SHAREHOLDERS' FUNDS (3,638) (2,882)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohammad Ghassemi
Director
10 February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fabrik Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13381069 . The registered office is 5 Brindle Gate, Sidcup, Kent, DA15 8BU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The director has confirmed that he will continue to support the company until such time as it is profitable.
2.3. Turnover
Turnover represents amounts receivable in respect of rent charges from tenants for the period.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% straight line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.6. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 June 2023 399
As at 31 May 2024 399
Depreciation
As at 1 June 2023 100
Provided during the period 100
As at 31 May 2024 200
Net Book Value
As at 31 May 2024 199
As at 1 June 2023 299
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5. Investment Property
2024
£
Fair Value
As at 1 June 2023 200,415
Additions 7,309
As at 31 May 2024 207,724
Investment property comprises £207,724. The fair value of the investment properties has been arrived at by the director. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 560
Deferred tax current asset 744 586
744 1,146
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 1,610 1,611
Director's loan account 145,346 138,918
146,956 140,529
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 66,550 66,535
66,550 66,535
The loan is secured by a fixed charge over the property at 85 Grace Road, Tipton, West Midlands DY4 0PG. The charge contains a negative pledge and was created on 5 May 2022.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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Page 6
10. Reserves
Profit and loss reserves - this reserve records retained earnings and accumulated losses.

Other reserves - this reserve records the fair value adjustments made to the investment properties and such reserves remain non-distributable.
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