Fans4less Limited - Filleted accounts

Registered number

07315478

Fans4less Limited

Filleted Accounts

31 December 2024

Fans4less Limited
Registered number:		07315478
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		97,947			110,449

Current assets
Stocks		771,631			739,849
Debtors	4	433,530			379,604
Cash at bank and in hand		3,080			25,704
		1,208,241			1,145,157

Creditors: amounts falling due within one year	5	(347,009)			(306,890)

Net current assets			861,232			838,267

Total assets less current liabilities			959,179			948,716

Creditors: amounts falling due after more than one year	6		(54,055)			(68,385)



Net assets			905,124			880,331

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			904,124			879,331

Shareholders' funds			905,124			880,331

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Richard G Meredith
Director
Approved by the board on 29 July 2025

Fans4less Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	over 5 years
	Motor vehicles	over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			14		14


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 January 2024	94,670		113,120		207,790
	Additions	11,986		-		11,986
	At 31 December 2024	106,656		113,120		219,776

	Depreciation
	At 1 January 2024	65,548		31,793		97,341
	Charge for the year	8,222		16,266		24,488
	At 31 December 2024	73,770		48,059		121,829

	Net book value
	At 31 December 2024	32,886		65,061		97,947
	At 31 December 2023	29,122		81,327		110,449


4	Debtors			2024		2023
£					£

	Trade debtors			61,854		44,909
	Amounts owed by group undertakings and undertakings in which the company has a participating interest			339,370		310,129
	Other debtors			32,306		24,566
				433,530		379,604


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			88,670		85,168
	Obligations under finance lease and hire purchase contracts			14,334		14,334
	Trade creditors			186,591		170,449
	Taxation and social security costs			56,065		36,939
	Other creditors			1,349		-
				347,009		306,890


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Obligations under finance lease and hire purchase contracts			54,055		68,385


7	Other information

	Fans4less Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 7 Poplars Farm
	Forshaw Heath Road
	Earlswood
	West Midlands
	B94 5JX