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Company registration number: 09716745
Fanz Limited
Unaudited filleted financial statements
31 August 2024
Fanz Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Fanz Limited
Directors and other information
Director Z Ilyas
Company number 09716745
Registered office C/O Legal Swan First Floor 168 Hamstead Road
Handsworth
Birmingham
England
B20 2QR
Accountants Accounts Tax Solutions Limited
3 Grove street
Wilmslow
Cheshire
SK9 1DU
Fanz Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Fanz Limited
Year ended 31 August 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 August 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounts Tax Solutions Limited
3 Grove street
Wilmslow
Cheshire
SK9 1DU
20 May 2025
Fanz Limited
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 326,527 326,527
_______ _______
326,527 326,527
Current assets
Cash at bank and in hand 118,928 96,563
_______ _______
118,928 96,563
Creditors: amounts falling due
within one year 6 ( 252,167) ( 242,997)
_______ _______
Net current liabilities ( 133,239) ( 146,434)
_______ _______
Total assets less current liabilities 193,288 180,093
_______ _______
Net assets 193,288 180,093
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 193,188 179,993
_______ _______
Shareholders funds 193,288 180,093
_______ _______
For the year 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:
- 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 director acknowledges their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 May 2025 , and are signed on behalf of the board by:
Z Ilyas
Director
Company registration number: 09716745
Fanz Limited
Statement of changes in equity
Year ended 31 August 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2022 100 161,775 161,875
Profit for the year 18,218 18,218
_______ _______ _______
Total comprehensive income for the year - 18,218 18,218
_______ _______ _______
At 31 August 2023 and 1 September 2023 100 179,993 180,093
Profit for the year 13,195 13,195
_______ _______ _______
Total comprehensive income for the year - 13,195 13,195
_______ _______ _______
At 31 August 2024 100 193,188 193,288
_______ _______ _______
Fanz Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Legal Swan First Floor 168 Hamstead Road, Handsworth, Birmingham, England, B20 2QR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Freehold property Total
£ £
Cost
At 1 September 2023 and 31 August 2024 326,527 326,527
_______ _______
Depreciation
At 1 September 2023 and 31 August 2024 - -
_______ _______
Carrying amount
At 31 August 2024 326,527 326,527
_______ _______
At 31 August 2023 326,527 326,527
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 3,095 4,558
Other creditors 249,072 238,439
_______ _______
252,167 242,997
_______ _______
7. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Z Ilyas ( 236,395) ( 10,621) ( 247,016)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Z Ilyas ( 247,710) 11,315 ( 236,395)
_______ _______ _______
8. Controlling party
The ultimate controlling party of the company is its Director.