Company registration number 01645465 (England and Wales)
AWAY WITH THE FOG LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
AWAY WITH THE FOG LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
AWAY WITH THE FOG LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
370,904
392,730
Current assets
Debtors
4
22,671
22,672
Cash at bank and in hand
14,381
16,938
37,052
39,610
Creditors: amounts falling due within one year
5
(24,840)
(41,548)
Net current assets/(liabilities)
12,212
(1,938)
Total assets less current liabilities
383,116
390,792
Provisions for liabilities
(30,097)
(25,922)
Net assets
353,019
364,870
Reserves
Revaluation reserve
154,521
169,184
Income and expenditure account
198,498
195,686
Members' funds
353,019
364,870

For the financial year ended 31 March 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 April 2025 and are signed on its behalf by:
Mr AG P Mould
Director
Company registration number 01645465 (England and Wales)
AWAY WITH THE FOG LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Revaluation reserve
Income and expenditure
Total
£
£
£
Balance at 1 April 2022
176,925
292,834
469,759
Year ended 31 March 2023:
Deficit
-
(107,930)
(107,930)
Other comprehensive income:
Tax relating to other comprehensive income
3,041
-
0
3,041
Total comprehensive income
3,041
(107,930)
(104,889)
Other movements
(10,782)
10,782
-
Balance at 31 March 2023
169,184
195,686
364,870
Year ended 31 March 2024:
Deficit
-
(7,982)
(7,982)
Other comprehensive income:
Tax relating to other comprehensive income
(3,869)
-
0
(3,869)
Total comprehensive income
(3,869)
(7,982)
(11,851)
Other movements
(10,794)
10,794
-
Balance at 31 March 2024
154,521
198,498
353,019
AWAY WITH THE FOG LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Away With The Fog Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Flat B, 36 Lime Street, Newcastle Upon Tyne, NE1 2PQ.

1.1
Accounting convention

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.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
4% straight line
Plant and equipment
15% reducing balance
Computers
33% straight line
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

AWAY WITH THE FOG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Total
£
£
£
£
Cost or valuation
At 1 April 2023 and 31 March 2024
544,274
18,896
220
563,390
Depreciation and impairment
At 1 April 2023
152,043
18,397
220
170,660
Depreciation charged in the year
21,758
68
-
0
21,826
At 31 March 2024
173,801
18,465
220
192,486
Carrying amount
At 31 March 2024
370,473
431
-
0
370,904
At 31 March 2023
392,231
499
-
0
392,730

Land and buildings with a carrying amount of £370,573 were revalued at 31 March 2008 by Sanderson Weatherall Limited, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

 

The directors have reviewed the fair value of the properties contained within land and property and consider that the current value is representative of fair value of these properties at the year end.

AWAY WITH THE FOG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3
Tangible fixed assets
(Continued)
- 5 -

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold land and buildings
2024
2023
£
£
Cost
274,694
274,694
Accumulated depreciation
(87,545)
(76,569)
Carrying value
187,149
198,125
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
22,671
22,672
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
-
0
32,215
Corporation tax
20,034
6,953
Accruals and deferred income
4,806
2,380
24,840
41,548
6
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

7
Related party transactions

Included within creditors is £nil (2023 - £32,215) owed by the estate of M Mould, one of the directors, who died during 2020. The loan has no fixed terms for repayment and there is no interest charged on the balance owed.

2024-03-312023-04-01falsefalsefalse04 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr J MarsdenMr B MarsdenMr A G P MouldMr R Marsden016454652023-04-012024-03-31016454652024-03-31016454652023-03-3101645465core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3101645465core:PlantMachinery2024-03-3101645465core:ComputerEquipment2024-03-3101645465core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3101645465core:PlantMachinery2023-03-3101645465core:ComputerEquipment2023-03-3101645465core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3101645465core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3101645465core:CurrentFinancialInstruments2024-03-3101645465core:CurrentFinancialInstruments2023-03-3101645465core:RevaluationReserve2024-03-3101645465core:RevaluationReserve2023-03-3101645465core:RetainedEarningsAccumulatedLosses2024-03-3101645465core:RetainedEarningsAccumulatedLosses2023-03-3101645465core:RevaluationReserve2022-03-3101645465core:RetainedEarningsAccumulatedLosses2022-03-3101645465bus:Director32023-04-012024-03-3101645465core:RetainedEarningsAccumulatedLosses2022-04-012023-03-31016454652022-04-012023-03-3101645465core:RetainedEarningsAccumulatedLosses2023-04-012024-03-3101645465core:RevaluationReserve2022-04-012023-03-3101645465core:RevenueReservesInvestmentFundsOnly2022-04-012023-03-3101645465core:RevaluationReserve2023-04-012024-03-3101645465core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3101645465core:PlantMachinery2023-04-012024-03-3101645465core:ComputerEquipment2023-04-012024-03-3101645465core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3101645465core:PlantMachinery2023-03-3101645465core:ComputerEquipment2023-03-31016454652023-03-3101645465core:WithinOneYear2024-03-3101645465core:WithinOneYear2023-03-3101645465bus:CompanyLimitedByGuarantee2023-04-012024-03-3101645465bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101645465bus:FRS1022023-04-012024-03-3101645465bus:AuditExemptWithAccountantsReport2023-04-012024-03-3101645465bus:Director12023-04-012024-03-3101645465bus:Director22023-04-012024-03-3101645465bus:Director42023-04-012024-03-3101645465bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP