Fairdeal Fabrications Limited - Accounts to registrar (filleted) - small 18.2

Fairdeal Fabrications Limited - Accounts to registrar (filleted) - small 18.2

FAIRDEAL FABRICATIONS LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v20.3.4.1 01241134 Board of Directors 1.2.19 31.1.20 31.1.20 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure012411342019-01-31012411342020-01-31012411342019-02-012020-01-31012411342018-01-31012411342018-02-012019-01-31012411342019-01-3101241134ns16:EnglandWales2019-02-012020-01-3101241134ns15:PoundSterling2019-02-012020-01-3101241134ns11:Director12019-02-012020-01-3101241134ns11:PrivateLimitedCompanyLtd2019-02-012020-01-3101241134ns11:SmallEntities2019-02-012020-01-3101241134ns11:AuditExempt-NoAccountantsReport2019-02-012020-01-3101241134ns11:SmallCompaniesRegimeForDirectorsReport2019-02-012020-01-3101241134ns11:SmallCompaniesRegimeForAccounts2019-02-012020-01-3101241134ns11:FullAccounts2019-02-012020-01-3101241134ns11:OrdinaryShareClass12019-02-012020-01-3101241134ns11:Director22019-02-012020-01-3101241134ns11:Director32019-02-012020-01-3101241134ns11:CompanySecretary12019-02-012020-01-3101241134ns11:RegisteredOffice2019-02-012020-01-3101241134ns6:CurrentFinancialInstruments2020-01-3101241134ns6:CurrentFinancialInstruments2019-01-3101241134ns6:ShareCapital2020-01-3101241134ns6:ShareCapital2019-01-3101241134ns6:RetainedEarningsAccumulatedLosses2020-01-3101241134ns6:RetainedEarningsAccumulatedLosses2019-01-3101241134ns6:PlantMachinery2019-02-012020-01-3101241134ns6:PlantMachinery2019-01-3101241134ns6:PlantMachinery2020-01-3101241134ns6:PlantMachinery2019-01-3101241134ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-01-3101241134ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-01-3101241134ns6:DeferredTaxation2019-01-3101241134ns6:DeferredTaxation2019-02-012020-01-3101241134ns6:DeferredTaxation2020-01-3101241134ns11:OrdinaryShareClass12020-01-31
REGISTERED NUMBER: 01241134 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2020

FOR

FAIRDEAL FABRICATIONS LIMITED
FAIRDEAL FABRICATIONS LIMITED (REGISTERED NUMBER: 01241134)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2020




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


FAIRDEAL FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2020







DIRECTORS: Mr B S Cole
Mrs L Cole
Mr M Charalambous



SECRETARY: Mrs L Cole



REGISTERED OFFICE: 123 Wellington Road South
Stockport
Cheshire
SK1 3TH



REGISTERED NUMBER: 01241134 (England and Wales)



ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH



BANKERS: Natwest Bank plc
10 Great Underbank
Stockport
Cheshire
SK1 1LL
Page 1
FAIRDEAL FABRICATIONS LIMITED (REGISTERED NUMBER: 01241134)

BALANCE SHEET
31ST JANUARY 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 176,587 186,344

CURRENT ASSETS
Stocks 81,291 81,291
Debtors 5 247,996 257,429
Cash at bank and in hand 89,357 75,520
418,644 414,240
CREDITORS
Amounts falling due within one year 6 172,554 176,526
NET CURRENT ASSETS 246,090 237,714
TOTAL ASSETS LESS CURRENT
LIABILITIES
422,677
424,058

PROVISIONS FOR LIABILITIES 7 18,690 20,024
NET ASSETS 403,987 404,034

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Retained earnings 401,987 402,034
SHAREHOLDERS' FUNDS 403,987 404,034

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2020 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 notes form part of these financial statements

Page 2 continued...
FAIRDEAL FABRICATIONS LIMITED (REGISTERED NUMBER: 01241134)

BALANCE SHEET - continued
31ST JANUARY 2020


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 19th January 2021 and were signed on its behalf by:





Mr B S Cole - Director


The notes form part of these financial statements

Page 3
FAIRDEAL FABRICATIONS LIMITED (REGISTERED NUMBER: 01241134)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2020

1. STATUTORY INFORMATION

Fairdeal Fabrications Limited 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.

Turnover
Turnover is measured at the fair value of the consideration receivable and represents the total amount receivable by the company for goods supplied and services provided in the normal course of business, excluding value added tax and trade discounts.

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 - 25% on reducing balance, 15% on reducing balance and Over the economic life of the property

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Page 4 continued...
FAIRDEAL FABRICATIONS LIMITED (REGISTERED NUMBER: 01241134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2020

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2019 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2019 599,969
Additions 10,626
At 31st January 2020 610,595
DEPRECIATION
At 1st February 2019 413,625
Charge for year 20,383
At 31st January 2020 434,008
NET BOOK VALUE
At 31st January 2020 176,587
At 31st January 2019 186,344

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 203,037 215,918
Other debtors 44,959 41,511
247,996 257,429

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 83,006 91,440
Taxation and social security 35,428 48,854
Other creditors 54,120 36,232
172,554 176,526

7. PROVISIONS FOR LIABILITIES
2020 2019
£    £   
Deferred tax
Capital allowances in excess of depreciation 18,690 20,024

Page 5 continued...
FAIRDEAL FABRICATIONS LIMITED (REGISTERED NUMBER: 01241134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2020

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st February 2019 20,024
Credit to Statement of Income and Retained Earnings during year (1,334 )
Balance at 31st January 2020 18,690

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
2,000 Ordinary £1 2,000 2,000

Page 6