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REGISTERED NUMBER: 04058112 (England and Wales)










FAB TECHNOLOGY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






FAB TECHNOLOGY LIMITED (REGISTERED NUMBER: 04058112)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


FAB TECHNOLOGY LIMITED (REGISTERED NUMBER: 04058112)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,064
Tangible assets 5 751 563
Investments 6 100 100
Investment property 7 1,200,000 1,200,000
1,200,851 1,202,727

CURRENT ASSETS
Cash at bank 12,791 5,854

CREDITORS
Amounts falling due within one year 8 40,803 27,203
NET CURRENT LIABILITIES (28,012 ) (21,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,172,839 1,181,378

CREDITORS
Amounts falling due after more than one year 9 (78,742 ) (85,656 )

PROVISIONS FOR LIABILITIES (132,501 ) (132,501 )
NET ASSETS 961,596 963,221

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 574,427 574,427
Retained earnings 387,069 388,694
SHAREHOLDERS' FUNDS 961,596 963,221

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FAB TECHNOLOGY LIMITED (REGISTERED NUMBER: 04058112)

BALANCE SHEET - continued
31ST AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14th February 2025 and were signed by:





M Ikhlaq - Director


FAB TECHNOLOGY LIMITED (REGISTERED NUMBER: 04058112)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024


1. STATUTORY INFORMATION

Fab Technology Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 as modified by the revaluation of certain assets.

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

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.

Cryptocurrency Investment is being amortised evenly over its estimated useful life of nil years.

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

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings - 20%
Computer equipment - 33%

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


FAB TECHNOLOGY LIMITED (REGISTERED NUMBER: 04058112)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


2. ACCOUNTING POLICIES - continued
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.

Financial instruments
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to readies the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st September 2023 2,064
Disposals (2,064 )
At 31st August 2024 -
NET BOOK VALUE
At 31st August 2024 -
At 31st August 2023 2,064


FAB TECHNOLOGY LIMITED (REGISTERED NUMBER: 04058112)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st September 2023 5,000 1,746 6,746
Additions 540 - 540
At 31st August 2024 5,540 1,746 7,286
DEPRECIATION
At 1st September 2023 5,000 1,183 6,183
Charge for year 39 313 352
At 31st August 2024 5,039 1,496 6,535
NET BOOK VALUE
At 31st August 2024 501 250 751
At 31st August 2023 - 563 563

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st September 2023
and 31st August 2024 100
NET BOOK VALUE
At 31st August 2024 100
At 31st August 2023 100

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2023
and 31st August 2024 1,200,000
NET BOOK VALUE
At 31st August 2024 1,200,000
At 31st August 2023 1,200,000

The historic cost equivalent of investment properties included at fair value is £493,071 (2023: £493,071). The directors believe that the valuation of investment properties at the reporting date correctly reflects their fair value.

FAB TECHNOLOGY LIMITED (REGISTERED NUMBER: 04058112)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 7,031 6,432
Taxation and social security 11,042 4,554
Other creditors 22,730 16,217
40,803 27,203

Included in Other creditors are amounts owed to directors of £3,257 (2023: £2,847).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 78,742 85,656

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by
instalments 43,272 53,210
43,272 53,210

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 85,773 92,088

The bank loans totalling £85,774.54 (2023: £82,087.02) are secured against the properties to which they relate.

Bank loans are secured by a fixed and floating charge over the assets of the company

11. CALLED UP SHARE CAPITAL

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

Ordinary shares rank pari passu except that different rates of dividend can be declared on different classes of share

12. RESERVES
Fair
value
reserve
£   
At 1st September 2023
and 31st August 2024 574,427