Company Registration No. 08711132 (England and Wales)
Fang Academy Limited
Unaudited accounts
for the year ended 30 September 2024
Fang Academy Limited
Unaudited accounts
Contents
Fang Academy Limited
Company Information
for the year ended 30 September 2024
Company Number
08711132 (England and Wales)
Registered Office
7 Bell Yard
London
WC2A 2JR
Accountants
Anthony Daniel Associates Ltd
10 Julian Place
London
E14 3AT
Fang Academy Limited
Statement of financial position
as at 30 September 2024
Tangible assets
245,122
248,279
Cash at bank and in hand
34
11
Creditors: amounts falling due within one year
(132,635)
(131,397)
Net current liabilities
(132,601)
(131,386)
Total assets less current liabilities
112,521
116,893
Creditors: amounts falling due after more than one year
(168,846)
(168,846)
Net liabilities
(56,325)
(51,953)
Called up share capital
100
100
Profit and loss account
(56,425)
(52,053)
Shareholders' funds
(56,325)
(51,953)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2025 and were signed on its behalf by
Xuejiao Fang
Director
Company Registration No. 08711132
Fang Academy Limited
Notes to the Accounts
for the year ended 30 September 2024
Fang Academy Limited is a private company, limited by shares, registered in England and Wales, registration number 08711132. The registered office is 7 Bell Yard, London, WC2A 2JR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% on straight line
Computer equipment
25% on straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
These accounts have been prepared on the going concern basis, on the understanding that the director and shareholders will continue to financially support the company during this uncertain period.
Fang Academy Limited
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Land & buildings
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
243,330
16,750
29,462
289,542
At 30 September 2024
243,330
16,750
29,941
290,021
At 1 October 2023
-
12,004
29,259
41,263
Charge for the year
-
3,350
286
3,636
At 30 September 2024
-
15,354
29,545
44,899
At 30 September 2024
243,330
1,396
396
245,122
At 30 September 2023
243,330
4,746
203
248,279
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,343
6,052
Other creditors
60,233
56,653
Loans from directors
69,971
66,618
6
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
168,846
168,846
This consists of a series of 5 year loans with interest at 5% per annum aggregating over the 5 year term of the loan, with convertibility into equity occurring in certain circumstances in lieu of repayment.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The ultimate controlling party is Miss. Xuejiao Fang, who is the sole director and holds one hundred percent of the company's shares.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).