Company Registration No. 08822618 (England and Wales)
FABACUS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
PAGES FOR FILING WITH REGISTRAR
FABACUS HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
FABACUS HOLDINGS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FABACUS HOLDINGS LIMITED FOR THE YEAR ENDED 31 AUGUST 2022
- 1 -
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 2022 which comprise, the balance sheet, the statement of changes in equity 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 http://www.icaew.com/en/members/regulations-standards-and-guidance
.
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
.
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.
Carpenter Box
28 February 2023
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
FABACUS HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2022
31 August 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
4
4
Current assets
Debtors
4
12,646,170
10,613,083
Cash at bank and in hand
17,957
4,192
12,664,127
10,617,275
Creditors: amounts falling due within one year
5
(240,048)
(118,447)
Net current assets
12,424,079
10,498,828
Net assets
12,424,083
10,498,832
Capital and reserves
Called up share capital
6
288
269
Share premium account
12,863,830
10,889,513
Profit and loss reserves
(440,035)
(390,950)
Total equity
12,424,083
10,498,832
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 2022 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.
T
he 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.
The financial statements were approved by the board of directors and authorised for issue on 28 February 2023 and are signed on its behalf by:
Mr S M Jacobs
Director
Company Registration No. 08822618
FABACUS HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2022
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 September 2020
249
8,937,808
(289,468)
8,648,589
Period ended 31 August 2021:
Loss and total comprehensive income for the period
-
-
(107,857)
(107,857)
Issue of share capital
6
1,951,705
-
1,951,705
Credit to equity for equity settled share-based payments
-
-
6,375
6,375
Other movements
20
-
20
Balance at 31 August 2021
269
10,889,513
(390,950)
10,498,832
Period ended 31 August 2022:
Loss and total comprehensive income for the period
-
-
(82,440)
(82,440)
Issue of share capital
6
1,974,317
-
1,974,317
Credit to equity for equity settled share-based payments
-
-
33,355
33,355
Other movements
19
-
19
Balance at 31 August 2022
288
12,863,830
(440,035)
12,424,083
FABACUS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
- 4 -
1
Accounting policies
Company information
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.
1.1
Accounting convention
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 a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention
.
1.2
Going concern
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
1.3
Fixed asset investments
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
.
1.4
Cash and cash equivalents
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.
1.5
Equity instruments
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Year was 0
(2021 - 0).
FABACUS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 5 -
3
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
4
4
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
79,516
36,187
Other debtors
1,710,793
1,663,508
1,790,309
1,699,695
2022
2021
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
10,855,861
8,913,388
Total debtors
12,646,170
10,613,083
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
58,506
35,000
Other creditors
181,542
83,447
240,048
118,447
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 0.1p each
253,420
234,425
253
234
Ordinary A1 Shares of 0.1p each
34,189
34,189
34
34
Ordinary A2 Shares of 0.1p each
579
579
1
1
288,188
269,193
288
269
During the
year
the company issued 18,995 ordinary shares
with a par value
of £0.0001
per share
.
FABACUS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 6 -
7
Share Warrants
During the 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 2022. 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 prior 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 2022. 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.