Registration number:
Faim Holdings Ltd
for the Period from 10 August 2023 to 31 August 2024
Faim Holdings Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Faim Holdings Ltd
Company Information
Director |
Mohsin Patel |
Registered office |
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Accountants |
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Faim Holdings Ltd
(Registration number: 15062771)
Balance Sheet as at 31 August 2024
Note |
2024 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
3,434 |
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Retained earnings |
367,535 |
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Shareholders' funds |
370,969 |
For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges 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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Faim Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 10 August 2023 to 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the value of rental and dividend income earned in the year arising from the investment property owned by the company and investment in an associated company.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment property
Faim Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 10 August 2023 to 31 August 2024
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
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.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for services that have been acquired in the ordinary course of business from suppliers.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Investment properties |
2024 |
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Additions |
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At 31 August |
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The investment property has been valued at the balance sheet date by the director, who believes the carrying value to be its fair value.
There has been no valuation of investment property by an independent valuer.
Faim Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 10 August 2023 to 31 August 2024
Investments |
2024 |
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Investments in associates |
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Associates |
£ |
Cost |
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Additions |
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Provision |
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Carrying amount |
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At 31 August 2024 |
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Details of undertakings
Details of the investments 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 |
2024 |
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Associates |
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Ordinary |
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England |
Debtors |
Current |
2024 |
Other debtors |
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Faim Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 10 August 2023 to 31 August 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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3,434 |
Related party transactions |
Transactions with the director |
2024 |
At 10 August 2023 |
Other payments made to company by director |
At 31 August 2024 |
Mohsin Patel |
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Amount owed (to)/from the director |
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(4,205) |
( |
Parent and ultimate parent undertaking |
The ultimate controlling party is