REGISTERED NUMBER: 01918977 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FANADEN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A D Potter

Mr S D Potter

SECRETARY:

Mr S D Potter

REGISTERED OFFICE:

17 West Bank

Acomb

York

North Yorkshire

YO24 4ES

REGISTERED NUMBER:

01918977 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

YO30 5PA

FIXED ASSETS

Tangible assets

4

12,577

15,485

Investment property

5

900,000

1,100,000

912,577

1,115,485

CURRENT ASSETS

Debtors

6

10,120

-

Cash at bank and in hand

51,320

51,538

61,440

51,538

CREDITORS

Amounts falling due within one year

7

38,936

42,990

NET CURRENT ASSETS

22,504

8,548

TOTAL ASSETS LESS CURRENT LIABILITIES

935,081

1,124,033

PROVISIONS FOR LIABILITIES

87,294

107,293

NET ASSETS

847,787

1,016,740

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8

847,785

1,016,738

847,787

1,016,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

Mrs A D Potter - Director

1.	STATUTORY INFORMATION

Fanaden Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These 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 £1.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

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

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.

Cash at bank and in hand

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 with borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

47,180

Additions

1,612

At 31 December 2024

48,792

DEPRECIATION

At 1 January 2024

31,695

Charge for year

4,520

At 31 December 2024

36,215

NET BOOK VALUE

At 31 December 2024

12,577

At 31 December 2023

15,485

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

1,100,000

Revaluations

(200,000

)

At 31 December 2024

900,000

NET BOOK VALUE

At 31 December 2024

900,000

At 31 December 2023

1,100,000

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 December 2024 by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2022

1,100,000

Valuation in 2024

(200,000

)

900,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

10,120

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

5,906

5,673

Other creditors

33,030

37,317

38,936

42,990

8.

RESERVES

Included within retained earnings are amounts of £254,716 which relate to property revaluation gains, less deferred tax thereon. As these gains are unrealised they are not available to be distributed.

9.	RELATED PARTY DISCLOSURES

As at 31 December 2024, included in other debtors is £10,000 (2023- £nil) owed from Potters Developments Ltd, a related party.

As at 31 December 2024, included in other creditors is £21 (2023- £121) owed to the directors.