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REGISTERED NUMBER: 09822815 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

FIVE FATHOMS LIMITED

FIVE FATHOMS LIMITED (REGISTERED NUMBER: 09822815)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIVE FATHOMS LIMITED

Company Information
for the year ended 31 October 2024







DIRECTORS: S Batchelar
B L Davis





REGISTERED OFFICE: Rume2 Sussex House
Crane Street
Chichester
West Sussex
PO19 1LJ





REGISTERED NUMBER: 09822815 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

FIVE FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

Balance Sheet
31 October 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 6,483 5,905

CURRENT ASSETS
Debtors 5 8,358 4,872
Cash at bank 33,762 64,803
42,120 69,675
CREDITORS
Amounts falling due within one year 6 (39,720 ) (40,779 )
NET CURRENT ASSETS 2,400 28,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,883

34,801

CREDITORS
Amounts falling due after more than one
year

7

(6,668

)

(14,455

)

PROVISIONS FOR LIABILITIES 8 (1,232 ) (1,122 )
NET ASSETS 983 19,224

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 883 19,124
SHAREHOLDERS' FUNDS 983 19,224

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

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

FIVE FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

Balance Sheet - continued
31 October 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 26 March 2025 and were signed on its behalf by:




S Batchelar - Director



B L Davis - Director


FIVE FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Five Fathoms 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 represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue is recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment-Straight line over 4 years
Fixtures & fittings-Straight line over 4 years

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.

FIVE FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 November 2023 1,137 12,272 13,409
Additions - 4,938 4,938
Disposals - (1,915 ) (1,915 )
At 31 October 2024 1,137 15,295 16,432
DEPRECIATION
At 1 November 2023 761 6,743 7,504
Charge for year 236 2,209 2,445
At 31 October 2024 997 8,952 9,949
NET BOOK VALUE
At 31 October 2024 140 6,343 6,483
At 31 October 2023 376 5,529 5,905

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 3,522 2,082
Other debtors 4,836 2,790
8,358 4,872

FIVE FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 8,260 8,260
Trade creditors 2,769 2,856
Taxation and social security 17,914 23,016
Other creditors 10,777 6,647
39,720 40,779

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 6,668 14,455

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 1,232 1,122

Deferred tax
£
Balance at 1 November 2023 1,122
Movement in year 110
Balance at 31 October 2024 1,232

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£ £
B L Davis
Balance outstanding at start of year - 13,651
Amounts advanced 153 -
Amounts repaid - (13,651 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 153 -

FIVE FATHOMS LIMITED (REGISTERED NUMBER: 09822815)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Batchelar
Balance outstanding at start of year - 13,591
Amounts repaid - (13,591 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Director's loan is interest free and repayable on demand.