Fagins Old Town Limited - Filleted accounts

Registered number

11248849

Fagins Old Town Limited

Filleted Accounts

31 March 2026

Fagins Old Town Limited
Registered number:		11248849
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	4		10,515			11,639

Current assets
Stocks		8,199			8,534
Debtors	5	1,181			3,152
Cash at bank and in hand		10,335			15,845
		19,715			27,531

Creditors: amounts falling due within one year	6	(175,379)			(169,371)

Net current liabilities			(155,664)			(141,840)

Net liabilities			(145,149)			(130,201)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(145,249)			(130,301)

Shareholders' funds			(145,149)			(130,201)

The directors are 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 directors acknowledge their 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.




P Piggott
Director
Approved by the board on 16 April 2026

Fagins Old Town Limited
Notes to the Accounts
for the year ended 31 March 2026


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).

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Leasehold land and buildings	over the lease term
	Plant and machinery	@ 25% RB
	Fixtures, fittings, tools and equipment	@ 25% RB


	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.

	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.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			17		20






3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 April 2025					2,332
	At 31 March 2026					2,332

	Amortisation
	At 1 April 2025					2,332
	At 31 March 2026					2,332

	Net book value
	At 31 March 2026					-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 April 2025	15,868		34,124		49,992
	At 31 March 2026	15,868		34,124		49,992

	Depreciation
	At 1 April 2025	5,552		32,801		38,353
	Charge for the year	793		331		1,124
	At 31 March 2026	6,345		33,132		39,477

	Net book value
	At 31 March 2026	9,523		992		10,515
	At 31 March 2025	10,316		1,323		11,639


5	Debtors			2026		2025
£					£

	Other debtors			1,181		3,152










6	Creditors: amounts falling due within one year			2026		2025
£					£

	Trade creditors			9,198		8,622
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			154,898		147,579
	Taxation and social security costs			8,889		8,974
	Other creditors			2,394		4,196
				175,379		169,371


7	Other information

	Fagins Old Town Limited is a private company limited by shares and incorporated in England. Its registered office is:
	71 George Street
	Hastings
	TN34 3EE