| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| FAIA INVESTMENT COMPANY LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| FAIA INVESTMENT COMPANY LTD |
| FAIA INVESTMENT COMPANY LTD (REGISTERED NUMBER: 11512052) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| FAIA INVESTMENT COMPANY LTD |
| COMPANY INFORMATION |
| for the year ended 31 AUGUST 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Atlantic House |
| 1a Cadogan Street |
| Glasgow |
| G2 6QE |
| FAIA INVESTMENT COMPANY LTD (REGISTERED NUMBER: 11512052) |
| STATEMENT OF FINANCIAL POSITION |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 7 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| FAIA INVESTMENT COMPANY LTD (REGISTERED NUMBER: 11512052) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 AUGUST 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FAIA INVESTMENT COMPANY LTD (REGISTERED NUMBER: 11512052) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Faia Investment Company Ltd is a private company, limited by shares, registered in England, registration number 11512052. The registered office is Apartment 52 Riverlight 2, Riverlight Quay, London, England, SW11 8AW |
| The principal activity of the company is investments. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentational currency of the financial statements is Pounds Sterling (£). |
| Going concern |
| The operations of the company are funded entirely by the support of its shareholders by way of shareholder loans. It is the intention of the shareholders to continue to financially support the company for the foreseeable future, and with no intention of disposing of the investments. |
| The company therefore continues to adopt the going concern basis in preparing its financial statements. |
| Significant judgements and estimates |
| In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
| There are no significant judgements or estimates used in the preparation of these accounts. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are initially recognised at cost and subsequently measured at cost less any accumulated impairment losses. |
| Unlisted Investments |
| Unlisted investments are measured at fair value with changes in fair value recognised in profit or loss. |
| FAIA INVESTMENT COMPANY LTD (REGISTERED NUMBER: 11512052) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash balances. |
| Creditors |
| Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Provisions |
| Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| FAIA INVESTMENT COMPANY LTD (REGISTERED NUMBER: 11512052) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 September 2023 |
| and 31 August 2024 | 4,513,047 |
| NET BOOK VALUE |
| At 31 August 2024 | 4,513,047 |
| At 31 August 2023 | 4,513,047 |
| Cost or valuation at 31 August 2024 is represented by: |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| Cost | 4,378,047 | 135,000 | 4,513,047 |
| The company owns 100% of the interest and voting capital in an overseas subsidiary, which includes all rights and ownership of a residential property held by the subsidiary. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| 7. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 September 2023 |
| and 31 August 2024 |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| FAIA INVESTMENT COMPANY LTD |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Faia Investment Company Ltd for the year ended 31 August 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts. |
| This report is made solely to the Board of Directors of Faia Investment Company Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Faia Investment Company Ltd and state those matters that we have agreed to state to the Board of Directors of Faia Investment Company Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Faia Investment Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Faia Investment Company Ltd. You consider that Faia Investment Company Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Faia Investment Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Atlantic House |
| 1a Cadogan Street |
| Glasgow |
| G2 6QE |
| Date: ............................................. |