REGISTERED NUMBER: 11036681 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Fabarch Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J A Heinrich

C R Nichol

REGISTERED OFFICE:

27 Old Gloucester Street

London

United Kingdom

WC1N 3AX

REGISTERED NUMBER:

11036681 (England and Wales)

SENIOR STATUTORY AUDITOR:

Melissa Bowers FCCA

AUDITORS:

Harts Limited

Westminster House

10 Westminster Road

Macclesfield

Cheshire

SK10 1BX

FIXED ASSETS

Investments

5

419,944

419,944

Investment property

6

15,310,000

14,700,000

15,729,944

15,119,944

CURRENT ASSETS

Debtors

7

116,544

4,873,299

Cash at bank

444,639

511,168

561,183

5,384,467

CREDITORS

Amounts falling due within one year

8

2,017,787

36,852,130

NET CURRENT LIABILITIES

(1,456,604

)

(31,467,663

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,273,340

(16,347,719

)

PROVISIONS FOR LIABILITIES

9

1,697,033

1,671,712

NET ASSETS/(LIABILITIES)

12,576,307

(18,019,431

)

CAPITAL AND RESERVES

Called up share capital

10

200

100

Share premium

30,503,634

-

Fair value reserves

3,299,262

3,223,300

Retained earnings

(21,226,789

)

(21,242,831

)

SHAREHOLDERS' FUNDS

12,576,307

(18,019,431

)

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 December 2025 and were signed on its behalf by:

C R Nichol - Director

1.	STATUTORY INFORMATION

Fabarch Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The place of business is 15 Rathbone St, Fitzrovia, London W1T 1NB.

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.

Turnover

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

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

After reviewing the company's financial situation, the directors have a reasonable expectation that the company has adequate resources, including the continuing financial support of its parent company, to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business. Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

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

4.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

2,625

2,600

5.	FIXED ASSET INVESTMENTS

Other

investment

£

COST

At 1 January 2024

and 31 December 2024

419,944

NET BOOK VALUE

At 31 December 2024

419,944

At 31 December 2023

419,944

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

14,700,000

Additions

508,717

Revaluations

101,283

At 31 December 2024

15,310,000

NET BOOK VALUE

At 31 December 2024

15,310,000

At 31 December 2023

14,700,000

The properties have been valued at the year end as per the amount they were sold for post year end, less the option fee which was payable in respect of the associated land held by Fabarch 2 due to them being sold as a whole.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2019

7,510,000

Valuation in 2021

20,407,573

Valuation in 2022

(10,211,926

)

Valuation in 2023

(12,810,634

)

Valuation in 2024

101,283

Cost

10,313,704

15,310,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

32,053

176,953

Amounts owed by group undertakings

6,982

8,828

Other debtors

77,509

4,687,518

116,544

4,873,299

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

127,340

548,413

Amounts owed to group undertakings

712,243

5,158,680

Amounts owed to associates

1,054,704

29,211,223

Other creditors

123,500

1,933,814

2,017,787

36,852,130

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

1,697,033

1,671,712

Deferred

tax

£

Balance at 1 January 2024

1,671,712

Provided during year

25,321

Balance at 31 December 2024

1,697,033

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

1

200

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Melissa Bowers FCCA (Senior Statutory Auditor)

for and on behalf of Harts Limited

12.	POST BALANCE SHEET EVENTS

On 12 March 2025, the remaining property held by Fabarch Limited was disposed of along with the option held in Fabarch 2 Limited for £36,000,000. This includes a deferred payment which is due within 18 months of completion and attracts a prompt payment discount dependant on when the payment is made. The property is valued at the sale price in the accounts.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Argo Holding GmbH, a company incorporated in Germany whose registered office is at Kienberger Allee 4, 12529, Schoenefeld, Germany.