Fabulets Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06643564 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

FABULETS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Waller

REGISTERED OFFICE:

Suite A The Old Casino

Forth Lane

Newcastle Upon Tyne

Tyne and Wear

NE15HX

REGISTERED NUMBER:

06643564 (England and Wales)

ACCOUNTANTS:

Ribchesters

Chartered Accountants

Finchale House

Belmont Business Park

Durham

DH1 1TW

CURRENT ASSETS

Debtors

5

2,293

3,331

Cash at bank and in hand

856

8,450

3,149

11,781

CREDITORS

Amounts falling due within one year

6

8,989

17,060

NET CURRENT LIABILITIES

(5,840

)

(5,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,840

)

(5,279

)

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

(6,840

)

(6,279

)

SHAREHOLDERS' FUNDS

(5,840

)

(5,279

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 10 May 2018 and were signed by:

D Waller - Director

1.	STATUTORY INFORMATION

Fabulets 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

1,709

DEPRECIATION

At 1 January 2017

and 31 December 2017

1,709

NET BOOK VALUE

At 31 December 2017

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

673

Other debtors

2,293

2,658

2,293

3,331

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

199

Taxation and social security

284

122

Other creditors

8,705

16,739

8,989

17,060

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000

Ordinary

£1

1,000

1,000

8.	RELATED PARTY DISCLOSURES

During the year an interest free loan was made to Tyne & Country Estates Limited, a company related by way of

the director also being a director of that company. As at 31 December 2017 the balance owed was £2,293.