Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31falsetrue862024-01-0195falsefalse 06552850 2024-01-01 2024-12-31 06552850 2023-01-01 2023-12-31 06552850 2024-12-31 06552850 2023-12-31 06552850 2023-01-01 06552850 c:Director2 2024-01-01 2024-12-31 06552850 c:Director3 2024-01-01 2024-12-31 06552850 c:Director4 2024-01-01 2024-12-31 06552850 c:Director5 2024-01-01 2024-12-31 06552850 c:RegisteredOffice 2024-01-01 2024-12-31 06552850 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 06552850 d:Buildings d:ShortLeaseholdAssets 2024-12-31 06552850 d:Buildings d:ShortLeaseholdAssets 2023-12-31 06552850 d:PlantMachinery 2024-01-01 2024-12-31 06552850 d:PlantMachinery 2024-12-31 06552850 d:PlantMachinery 2023-12-31 06552850 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06552850 d:MotorVehicles 2024-01-01 2024-12-31 06552850 d:MotorVehicles 2024-12-31 06552850 d:MotorVehicles 2023-12-31 06552850 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06552850 d:FurnitureFittings 2024-01-01 2024-12-31 06552850 d:FurnitureFittings 2024-12-31 06552850 d:FurnitureFittings 2023-12-31 06552850 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06552850 d:OfficeEquipment 2024-01-01 2024-12-31 06552850 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06552850 d:Goodwill 2024-12-31 06552850 d:Goodwill 2023-12-31 06552850 d:CurrentFinancialInstruments 2024-12-31 06552850 d:CurrentFinancialInstruments 2023-12-31 06552850 d:Non-currentFinancialInstruments 2024-12-31 06552850 d:Non-currentFinancialInstruments 2023-12-31 06552850 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06552850 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06552850 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 06552850 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06552850 d:ShareCapital 2024-01-01 2024-12-31 06552850 d:ShareCapital 2024-12-31 06552850 d:ShareCapital 2023-01-01 2023-12-31 06552850 d:ShareCapital 2023-12-31 06552850 d:ShareCapital 2023-01-01 06552850 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 06552850 d:RetainedEarningsAccumulatedLosses 2024-12-31 06552850 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06552850 d:RetainedEarningsAccumulatedLosses 2023-12-31 06552850 d:RetainedEarningsAccumulatedLosses 2023-01-01 06552850 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 06552850 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06552850 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 06552850 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 06552850 c:OrdinaryShareClass1 2024-01-01 2024-12-31 06552850 c:OrdinaryShareClass1 2024-12-31 06552850 c:OrdinaryShareClass1 2023-12-31 06552850 c:FRS102 2024-01-01 2024-12-31 06552850 c:Audited 2024-01-01 2024-12-31 06552850 c:FullAccounts 2024-01-01 2024-12-31 06552850 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06552850 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 06552850 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 06552850 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 06552850 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 06552850 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06552850 2 2024-01-01 2024-12-31 06552850 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-12-31 06552850 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 06552850 d:LeasedAssetsHeldAsLessee 2024-12-31 06552850 d:LeasedAssetsHeldAsLessee 2023-12-31 06552850 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 06552850 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 06552850







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


FABCO SANCTUARY LIMITED




































          

 


FABCO SANCTUARY LIMITED
 


 
COMPANY INFORMATION


Directors
D M N Cane 
G S Cane 
O L W Flyborg 
C M Pullen 




Registered number
06552850



Registered office
Spencer Legal
S.6 210 Upper Richmond Road

Hill House

Putney

London

SW15 6NP




Independent auditors
Moore Kingston Smith LLP

6th Floor

9 Appold Street

London

EC2A 2AP





 


FABCO SANCTUARY LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 14


 


FABCO SANCTUARY LIMITED
REGISTERED NUMBER:06552850



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
87,500
112,500

Tangible assets
 5 
697,560
634,587

  
785,060
747,087

Current assets
  

Stocks
 6 
655,304
336,365

Debtors: amounts falling due within one year
 7 
2,139,239
3,962,231

  
2,794,543
4,298,596

Creditors: amounts falling due within one year
 8 
(1,455,116)
(1,668,113)

Net current assets
  
 
 
1,339,427
 
 
2,630,483

Total assets less current liabilities
  
2,124,487
3,377,570

Creditors: amounts falling due after more than one year
 9 
-
(65,605)

Provisions for liabilities
  

Deferred tax
 11 
(151,588)
(120,300)

  
 
 
(151,588)
 
 
(120,300)

Net assets
  
1,972,899
3,191,665

Page 1

 


FABCO SANCTUARY LIMITED
REGISTERED NUMBER:06552850


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
 12 
1,000
1,000

Profit and loss account
  
1,971,899
3,190,665

  
1,972,899
3,191,665


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D M N Cane
Director

Date: 8 July 2025

The notes on pages 4 to 14 form part of these financial statements.

Page 2

 


FABCO SANCTUARY LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
1,000
2,063,536
2,064,536


Comprehensive income for the year

Profit for the year
-
1,127,129
1,127,129
Total comprehensive income for the year
-
1,127,129
1,127,129



At 1 January 2024
1,000
3,190,665
3,191,665


Comprehensive income for the year

Profit for the year
-
31,234
31,234
Total comprehensive income for the year
-
31,234
31,234


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,250,000)
(1,250,000)


Total transactions with owners
-
(1,250,000)
(1,250,000)


At 31 December 2024
1,000
1,971,899
1,972,899


The notes on pages 4 to 14 form part of these financial statements.

Page 3

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Fabco Sanctuary Limited is a private company limited by shares incorporated in England and Wales. The registered office is Spencer Legal, S.6 210 Upper Richmond Road, Hill House, Putney, London, England, SW15 6NP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. 
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. 
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs, Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Page 5

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Current and deferred taxation (continued)

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

  
2.10

Intangible assets - Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years. 
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit..

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Leasehold improvements
-
Straight line method over 10 years
Plant and equipment
-
Straight line method over 8 years
Motor vehicles
-
Straight line method over 5 years
Fixtures and fittings
-
Straight line method over 5 years
Office equipment
-
Straight line method over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.12

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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. 
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. 
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
As part of Storskogen Group's Treasury operations, all subsidiary companies participate in an interest bearing bank account sweeping arrangement whereby cash balances and overdrafts are physically swept to the header account on a daily basis. The net amount (as disclosed under 'amounts owed by group undertakings') as at the statement of financial position date is repayable on demand with the Company retaining ability to access the cash at any time, subject to Group Treasury arrangements. As at year-end, interest is charged at rates of between 6.25% and 7.0% on overdraft positions and between 0.95% and 3.25% on credit positions, depending on currency in which the cash is held. The Company joined the cash pooling arrangement during the previous year.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented 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 realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 8

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.18

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. 
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. 
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

  
2.19

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Page 9

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.20

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 86 (2023 - 95).


4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
500,000



At 31 December 2024

500,000



Amortisation


At 1 January 2024
387,500


Charge for the year
25,000



At 31 December 2024

412,500



Net book value



At 31 December 2024
87,500



At 31 December 2023
112,500



Page 10

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost


At 1 January 2024
-
914,264
503,707
226,322
1,644,293


Additions
31,894
88,106
146,780
18,630
285,410


Disposals
-
-
(56,002)
-
(56,002)



At 31 December 2024

31,894
1,002,370
594,485
244,952
1,873,701



Depreciation


At 1 January 2024
-
674,540
214,890
120,276
1,009,706


Charge for the year
963
72,197
101,566
26,195
200,921


Disposals
-
-
(34,486)
-
(34,486)



At 31 December 2024

963
746,737
281,970
146,471
1,176,141



Net book value



At 31 December 2024
30,931
255,633
312,515
98,481
697,560



At 31 December 2023
-
239,724
288,817
106,046
634,587

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
144,227
200,835

144,227
200,835


6.


Stocks

2024
2023
£
£

Raw materials and consumables
486,090
247,183

Work in progress
169,214
89,182

655,304
336,365


Page 11

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
269,708
451,419

Amounts owed by group undertakings
1,305,481
2,946,689

Other debtors
1,816
-

Prepayments and accrued income
109,031
108,857

Tax recoverable
453,203
455,266

2,139,239
3,962,231


In the prior year the Company joined the Storskogen Group's zero-balancing cash pooling arrangement. This interest-bearing bank account sweeping arrangement means that cash balances and overdrafts are physically transferred to Storskogen Group AB header account on a daily basis. The net amount of £1,286,241 as at 31 December 2024 is included in 'Amounts owed by group undertakings' (2023: £2,946,689). This amount is repayable on demand with the Company retaining ability to access the cash at any time, subject to Group Treasury arrangements.


8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
290,446
302,827

Other taxation and social security
216,031
266,877

Obligations under finance lease and hire purchase contracts
66,381
83,811

Other creditors
18,472
17,134

Accruals and deferred income
863,786
997,464

1,455,116
1,668,113



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
65,605

-
65,605


Page 12

 


FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Finance leases obligations


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
66,381
83,811

Between 1-5 years
-
65,605

66,381
149,416

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.


11.


Deferred taxation




2024


£






At beginning of year
(120,300)


Charged to profit or loss
(31,288)



At end of year
(151,588)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(151,588)
(122,336)

Short term timing difference
-
2,036

(151,588)
(120,300)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000

Each ordinary share carries voting rights and there are no restrictions on the distribution of dividends.


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FABCO SANCTUARY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £18,472 (2023 - £Nil) were payable to the fund at the reporting date and are included in creditors.


14.


Controlling party

The immediate parent company is Storskogen UK Limited, a company incorporated in England and Wales. 
The ultimate parent undertaking and controlling party is Storskogen Group AB (publ), a company incorporated in Stockholm, Sweden. Storskogen Group AB (publ) is the parent undertaking of the smallest and largest group to consolidate these financial statements. Copies of Storskogen Group AB (publ) consolidated financial statements can be obtained from Storskogen Group AB (publ), Hovslagargatan 3, 6fl, 111 48, Stockholm, Sweden.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 8 July 2025 by Jamie Seaford (Senior statutory auditor) on behalf of Moore Kingston Smith LLP.

 
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