Fameway Limited 30/09/2023 iXBRL

Fameway Limited 30/09/2023 iXBRL

FAMEWAY LTD - Company Information

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0 30/09/2023 2023-09-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-10-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06707410 2022-10-01 2023-09-30 06707410 2023-09-30 06707410 2021-10-01 2022-09-30 06707410 2022-09-30 06707410 2021-09-30 06707410 bus:RegisteredOffice 2022-10-01 2023-09-30 06707410 bus:LeadAgentIfApplicable 2022-10-01 2023-09-30 06707410 bus:Director1 2022-10-01 2023-09-30 06707410 bus:CompanySecretary1 2022-10-01 2023-09-30 06707410 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 06707410 core:WithinOneYear 2023-09-30 06707410 core:WithinOneYear 2022-09-30 06707410 core:AfterOneYear 2023-09-30 06707410 core:AfterOneYear 2022-09-30 06707410 core:HedgingReserve 2021-10-01 2022-09-30 06707410 core:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 06707410 core:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 06707410 core:ShareCapital 2023-09-30 06707410 core:ShareCapital 2022-09-30 06707410 core:HedgingReserve 2023-09-30 06707410 core:HedgingReserve 2022-09-30 06707410 core:RetainedEarningsAccumulatedLosses 2023-09-30 06707410 core:RetainedEarningsAccumulatedLosses 2022-09-30 06707410 core:ShareCapital 2021-09-30 06707410 core:HedgingReserve 2021-09-30 06707410 core:RetainedEarningsAccumulatedLosses 2021-09-30 06707410 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 06707410 bus:SmallEntities 2022-10-01 2023-09-30 06707410 bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 06707410 bus:FullAccounts 2022-10-01 2023-09-30 06707410 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 06707410 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30
Company registration number: 06707410
Fameway Limited
Unaudited filleted financial statements
30 September 2023
Fameway Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Fameway Limited
Directors and other information
Director Maurice Benjamin Brenig
Secretary Myer Rothfeld
Company number 06707410
Registered office 149A Stamford Hill
London
N16 5LL
Bankers Natwest Bank PLC
Hendon, Central Circus Branch
5 Central Circus
London
NW4 3LE
Fameway Limited
Statement of financial position
30 September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 300,000 300,000
_______ _______
300,000 300,000
Current assets
Debtors 5 3,010 3,010
Cash at bank and in hand 26,337 17,307
_______ _______
29,347 20,317
Creditors: amounts falling due
within one year 6 ( 152,248) ( 149,684)
_______ _______
Net current liabilities ( 122,901) ( 129,367)
_______ _______
Total assets less current liabilities 177,099 170,633
Creditors: amounts falling due
after more than one year 7 ( 238,525) ( 238,525)
_______ _______
Net liabilities ( 61,426) ( 67,892)
_______ _______
Capital and reserves
Called up share capital 1 1
Fair value reserve ( 69,553) ( 69,553)
Profit and loss account 8,126 1,660
_______ _______
Shareholders deficit ( 61,426) ( 67,892)
_______ _______
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 June 2024 , and are signed on behalf of the board by:
Maurice Benjamin Brenig
Director
Company registration number: 06707410
Fameway Limited
Statement of changes in equity
Year ended 30 September 2023
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 1 October 2021 1 40,000 ( 15,477) 24,524
Profit/(loss) for the year ( 52,416) ( 52,416)
Other comprehensive income for the year:
Reclassification from revaluation reserve to profit and loss account 69,553 69,553
Reclassification from fair value reserve to profit and loss account ( 69,553) - ( 69,553)
Fair value reserve adjustment - ( 40,000) - ( 40,000)
_______ _______ _______ _______
Total comprehensive income for the year - ( 109,553) 17,137 ( 92,416)
_______ _______ _______ _______
At 30 September 2022 and 1 October 2022 1 ( 69,553) 1,660 ( 67,892)
Profit/(loss) for the year 6,466 6,466
_______ _______ _______ _______
Total comprehensive income for the year - - 6,466 6,466
_______ _______ _______ _______
At 30 September 2023 1 ( 69,553) 8,126 ( 61,426)
_______ _______ _______ _______
Fameway Limited
Notes to the financial statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Medcar House, 149A Stamford Hill, London, N16 5LL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4. Tangible assets
Freehold property Total
£ £
Cost
At 1 October 2022 and 30 September 2023 300,000 300,000
_______ _______
Depreciation
At 1 October 2022 and 30 September 2023 - -
_______ _______
Carrying amount
At 30 September 2023 300,000 300,000
_______ _______
At 30 September 2022 300,000 300,000
_______ _______
5. Debtors
2023 2022
£ £
Trade debtors 1,057 1,057
Other debtors 1,953 1,953
_______ _______
3,010 3,010
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 132,614 132,614
Corporation tax 1,654 -
Other creditors 17,980 17,070
_______ _______
152,248 149,684
_______ _______
7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 238,525 238,525
_______ _______