FabPad Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10691813 (England and Wales)

Abridged Financial Statements for the Year Ended 31 March 2021

for

FabPad Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S F Williams

M J Lawson

REGISTERED OFFICE:

16 Bullfinch Lane

Riverhead

Sevenoaks

Kent

TN13 2DY

REGISTERED NUMBER:

10691813 (England and Wales)

ACCOUNTANT:

Rosemary MacKenzie FCCA - HBF

Chartered Certified Accountant

61 Fisher Road

Harrow

Middlesex

HA3 7JX

FIXED ASSETS

Investment property

4

313,432

175,000

CURRENT ASSETS

Debtors

-

36,563

Cash at bank

8,334

47,904

8,334

84,467

CREDITORS

Amounts falling due within one year

105,318

129,718

NET CURRENT LIABILITIES

(96,984

)

(45,251

)

TOTAL ASSETS LESS CURRENT LIABILITIES

216,448

129,749

CREDITORS

Amounts falling due after more than one year

5

221,662

131,500

NET LIABILITIES

(5,214

)

(1,751

)

RESERVES

Retained earnings

(5,214

)

(1,751

)

SHAREHOLDERS' FUNDS

(5,214

)

(1,751

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 December 2021 and were signed on its behalf by:

S F Williams - Director

1.	STATUTORY INFORMATION

FabPad 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.

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 represents rents received from investment properties.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

175,000

Additions

138,432

At 31 March 2021

313,432

NET BOOK VALUE

At 31 March 2021

313,432

At 31 March 2020

175,000

Fair value at 31 March 2021 is represented by:

£

Valuation in 2018

80,000

Valuation in 2019

95,000

Valuation in 2021

138,432

313,432

If the investment property had not been revalued it would have been included at the following historical cost:

31.3.21

31.3.20

£

£

Cost

315,253

176,821

The investment properties were valued on an open market basis on 31 March 2021 by the directors. .

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.21

31.3.20

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

221,662

131,500

6.	ULTIMATE CONTROLLING PARTY