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Registered number: 07758400 FABRUM VENTURES LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
FABRUM VENTURES LIMITED REGISTERED NUMBER: 07758400 STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 10,336 |  | 12,962
Investment property | 5 |  | 8,689,780 |  | 8,689,780
|  |  | 8,700,116 |  | 8,702,742
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 214,884 |  | 230,149 |
Cash at bank and in hand | 7 | 2,076,117 |  | 1,700,613 |
|  | 2,291,001 |  | 1,930,762 |
Creditors: amounts falling due within one year | 8 | (430,606) |  | (420,013) |
Net current assets |  |  | 1,860,395 |  | 1,510,749
Total assets less current liabilities |  |  | 10,560,511 |  | 10,213,491
Creditors: amounts falling due after more than one year | 9 |  | (23,850) |  | (23,850)
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (339,926) |  | (340,582) |
|  |  | (339,926) |  | (340,582)
Net assets |  |  | 10,196,735 |  | 9,849,059
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,000 |  | 1,000
Non-distributable profit and loss account | 11 |  | 1,900,454 |  | 1,900,454
Profit and loss account | 11 |  | 8,295,281 |  | 7,947,605
|  |  | 10,196,735 |  | 9,849,059
Page 1
FABRUM VENTURES LIMITED REGISTERED NUMBER: 07758400 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 OCTOBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
R E Smith
Director
Date: 9 July 2026
The notes on pages 3 to 11 form part of these financial statements. Page 2
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. | General information
Fabrum Ventures Limited is a private company, limited by shares, incorporated in England and Wales, registration number 07758400. The company's registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are presented in sterling, the functional currency, rounded to the nearest £1. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Page 3
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.3 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | straight line
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | Property improvements | - | 25% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.4 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers or by the directors. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.5 | Investment properties
Investment property is carried at fair value determined annually by external valuers or by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.7 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 4
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.8 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted Page 5
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.8 | Financial instruments (continued)
where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.11 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2.12 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.13 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 6
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
3. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2024 - 5).
Page 7
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Property improv/nts | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 November 2024 | 6,060 | 27,354 | 1,203 | 34,617
| Additions | 1,248 | - | - | 1,248
| At 31 October 2025 | 7,308 | 27,354 | 1,203 | 35,865
| Depreciation |  |  |  |
| At 1 November 2024 | 3,221 | 17,259 | 1,175 | 21,655
| Charge for the year | 1,343 | 2,524 | 7 | 3,874
| At 31 October 2025 | 4,564 | 19,783 | 1,182 | 25,529
| Net book value |  |  |  |
| At 31 October 2025 | 2,744 | 7,571 | 21 | 10,336
| At 31 October 2024 | 2,839 | 10,095 | 28 | 12,962
Page 8
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 November 2024 | 8,689,780
| At 31 October 2025 | 8,689,780
The 2025 valuations were made by the directors, on an open market value basis.
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Non-distributable profit and loss account |  |
| At 1 November 2024 | 1,900,454 | 1,181,186
| Net surplus in movement properties | - | 719,268
| At 31 October 2025 | 1,900,454 | 1,900,454
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 6,451,983 | 6,451,983
|  | 6,451,983 | 6,451,983
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 114,442 | 142,690
| Other debtors | 98,333 | 87,071
| Prepayments and accrued income | 2,109 | 388
|  | 214,884 | 230,149
Page 9
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,076,117 | 1,700,613
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 38,843 | -
| Corporation tax | 130,063 | 134,848
| Other taxation and social security | 16,896 | 44,014
| Other creditors | 75,449 | 83,518
| Accruals and deferred income | 169,355 | 157,633
|  | 430,606 | 420,013
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other creditors | 23,850 | 23,850
|  | 23,850 | 23,850
10. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (340,582)
| Charged to profit or loss | 656
| At end of year | (339,926)
Page 10
FABRUM VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 10.Deferred taxation (continued)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (2,583) | (3,239)
| Capital gains | (337,343) | (337,343)
|  | (339,926) | (340,582)
11. | Reserves
Non-distributable profit and loss account Non-distributable profit and loss account is a non-cash reserve created due to changes in the value of the investment properties held by the company. Profit and loss account The profit and loss account represents the accumulation of profits and losses incurred since incorporation.
12. | Transactions with directors
During the year, the company made advances totalling £131,704 and received credits totalling £128,488 to and from R E Smith, a director. Interest of £1,410 has been charged at commercial rates on the overdrawn balance. As at 31 October 2025, R E Smith owed the company £43,373 (2024: £38,747), included in other debtors. This loan is unsecured and repayable on demand. During the year, the company made advances totalling £15,999 and received credits totalling £10,000 to and from E A Smith, a director. At 31 October 2025, E A Smith was owed £54,009 from the company (2024: £60,008), included in other creditors. This loan is unsecured, interest free and repayable on demand.
13. | Related party transactions
| At 31 October 2025, the company owed £20,643 (2024: £18,254) to The Richard Edwin Smith Discretionary Settlement 2017, a trust of which R E Smith, the director, is a trustee.
14. | Ultimate parent undertaking
The ultimate parent company was Leseir Limited, a company that is incorporated in the British Virgin Islands.
Page 11