1 November 2023 v2025.44.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP033921972023-11-012024-10-31033921972024-10-31033921972023-10-3103392197core:WithinOneYear2024-10-3103392197core:WithinOneYear2023-10-3103392197core:AfterOneYear2023-10-3103392197core:ShareCapital2024-10-3103392197core:ShareCapital2023-10-3103392197core:RetainedEarningsAccumulatedLosses2024-10-3103392197core:RetainedEarningsAccumulatedLosses2023-10-3103392197bus:Director12023-11-012024-10-3103392197bus:RegisteredOffice2023-11-012024-10-3103392197core:LandBuildings2023-11-012024-10-3103392197core:PlantMachinery2023-11-012024-10-3103392197core:OfficeEquipment2023-11-012024-10-3103392197core:MotorVehicles2023-11-012024-10-31033921972022-11-012023-10-3103392197core:LandBuildings2023-11-0103392197core:PlantMachinery2023-11-01033921972023-11-0103392197core:LandBuildings2024-10-3103392197core:PlantMachinery2024-10-3103392197core:LandBuildings2023-10-3103392197core:PlantMachinery2023-10-3103392197core:AfterOneYear2024-10-3103392197countries:EnglandWales2023-11-012024-10-3103392197bus:AuditExemptWithAccountantsReport2023-11-012024-10-3103392197bus:PrivateLimitedCompanyLtd2023-11-012024-10-3103392197bus:SmallEntities2023-11-012024-10-3103392197bus:FullAccounts2023-11-012024-10-31
Company registration number:
03392197
Famous Four Products Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2024
Famous Four Products Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Famous Four Products Limited
Year ended
31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Famous Four Products Limited
for the year ended
31 October 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Famous Four Products Limited
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Famous Four Products Limited
and state those matters that we have agreed to state to the Board of Directors of
Famous Four Products Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Famous Four Products Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Famous Four Products Limited
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 profit of
Famous Four Products Limited
. You consider that
Famous Four Products Limited
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 Famous Four Products Limited. 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.
A G Smith & Co Ltd
Chartered Certified Accountants
Unit 8 Laceby Business Park
Laceby Business Park
Grimsby
N E Lincolnshire
DN37 7DP
United Kingdom
Date:
8 July 2025
Famous Four Products Limited
Statement of Financial Position
31 October 2024
20242023
Note££
Fixed assets    
Tangible assets 5
243,007
 
292,595
 
Current assets    
Stocks
432,333
 
354,135
 
Debtors 6
631,350
 
458,388
 
Cash at bank and in hand
81,023
 
161,623
 
1,144,706
 
974,146
 
Creditors: amounts falling due within one year 7
(1,303,971
)
(1,166,071
)
Net current liabilities
(159,265
)
(191,925
)
Total assets less current liabilities 83,742   100,670  
Creditors: amounts falling due after more than one year 8 -  
(10,380
)
Provisions for liabilities
(25,255
)
(31,521
)
Net assets
58,487
 
58,769
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
58,485
 
58,767
 
Shareholders funds
58,487
 
58,769
 
For the year ending
31 October 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
8 July 2025
, and are signed on behalf of the board by:
J Page
Director
Company registration number:
03392197
Famous Four Products Limited
Notes to the Financial Statements
Year ended
31 October 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Warwick Road
,
Fairfield Industrial Est
,
Louth
,
Lincolnshire
,
LN11 0YB
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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. However, the increase is recognised in profit or loss to the extent that 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. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 10 years
Plant and machinery
15% reducing balance
Office equipment
25% reducing balance
Motor vehicles
25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
20
(2023:
22.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 November 2023
266,329
 
382,956
 
649,285
 
Additions -  
16,969
 
16,969
 
Disposals -  
(7,791
)
(7,791
)
At
31 October 2024
266,329
 
392,134
 
658,463
 
Depreciation      
At
1 November 2023
145,497
 
211,193
 
356,690
 
Charge
23,473
 
41,413
 
64,886
 
Disposals -  
(6,120
)
(6,120
)
At
31 October 2024
168,970
 
246,486
 
415,456
 
Carrying amount      
At
31 October 2024
97,359
 
145,648
 
243,007
 
At 31 October 2023
120,832
 
171,763
 
292,595
 

6 Debtors

20242023
££
Trade debtors
16,849
 
9,260
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
581,594
 
416,003
 
Other debtors
32,907
 
33,125
 
631,350
 
458,388
 
The debtors above include the following amounts falling due after more than one year:
20242023
££
Other debtors
2,350
 
4,150
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts -  
27,903
 
Trade creditors
343,753
 
329,396
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
843,640
 
679,269
 
Taxation and social security
81,542
 
90,346
 
Other creditors
35,036
 
39,157
 
1,303,971
 
1,166,071
 
Creditors falling due within one year include amounts due under a hire purchase agreement which is secured on the asset concerned.

8 Creditors: amounts falling due after more than one year

20242023
££
Other creditors -  
10,380
 

9 Guarantees and other financial commitments

At the year end, the company was committed to make payments under operating lease agreements of £222,708 (2023: £210,000).
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £12,972 (2023: £11,706). Contributions amounting to £2,421 (2023: £2,196) were outstanding at the period end.
The Company has provided security in the form of a fixed and floating charge over all assets of the company in relation to a Debenture.

10 Controlling party

The company's parent company is Famous Four Holdings Limited. The ultimate parent company is 4x4 Products Limited.