FABACUS_HOLDINGS_LIMITED - Accounts

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fabacus Holdings Limited for the year ended 31 August 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Fabacus Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 16 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Fabacus Holdings Limited and state those matters that we have agreed to state to the board of directors of Fabacus Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fabacus Holdings Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Fabacus Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fabacus Holdings Limited. You consider that Fabacus Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fabacus Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Fabacus Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 Soho Square, London, W1D 3QF.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, and the impact of subsequent events in making their assessment.  Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons employed by the company during the year was 0 (2022 - 0).

During the year the company issued 11,074 Ordinary shares with a par value of £0.001 per share and 19,412 Ordinary A3 shares with par value £0.001 per share.

Included in debtors falling due after more than one year is a loan due from a subsidiary company, Fabacus Services Limited, of £15,608,958 (2022: £10,855,861). This loan is included in debtors falling due after more than one year as the company has confirmed that it is not seeking repayment within 12 months of the balance sheet date.

During the current year, 1,176 warrants were granted to a supplier of one of the company's subsidiaries. Of these warrants, 1,176 £0.0001 ordinary share warrants were still in place at 31 August 2023. These warrants were granted at an exercise price of £105.31. These warrants may be exercised at any point during the five years after the issue date. The directors have recorded no change within the income statement as the subsidiary has recognised the cost invoiced by the supplier.

During the 31 August 2022 year, 1,105 warrants were granted to a supplier of one of the company's subsidiaries. Of these warrants, 1,105 £0.0001 ordinary share warrants were still in place at 31 August 2023. These warrants were granted at an exercise price of £105.31. These warrants may be exercised at any point during the five years after the issue date. The directors have recorded no charge within the income statement as the subsidiary has recognised the cost invoiced by the supplier.

During the 31 August 2021 year, 1,031 warrants were granted to a supplier of one of the company's subsidiaries. Of these warrants, 1,031 £0.0001 ordinary share warrants were still in place at 31 August 2023. These warrants were granted at an exercise price of £84.51. These warrants may be exercised at any point during the five years after the issue date. The directors have recorded no charge within the income statement as the subsidiary has recognised the cost invoiced by the supplier.