Fairhome Limited Accounts
Fairhome Limited Accounts
Fairhome Limited Filleted Accounts Cover |
Company No. 00736829 | |||||||||
Fairhome Limited Directors Report Registrar |
The Director presents his report and the accounts for the year ended 31 July 2022. | |||||||||
Principal activities | |||||||||
Director | |||||||||
The Director who served at any time during the year was as follows: | |||||||||
C.J. Short | |||||||||
Signed on behalf of the board | |||||||||
C.J. Short | |||||||||
Director | |||||||||
20 January 2023 |
Fairhome Limited Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2022 | 2021 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Intangible assets | 4 | |||||||||
Tangible assets | 5 | |||||||||
Investment property | 6 | |||||||||
Current assets | ||||||||||
Stocks | 7 | |||||||||
Debtors | 8 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 9 | ( | ( | |||||||
Net current liabilities | ( | ( | ||||||||
Total assets less current liabilities | ||||||||||
Creditors: Amounts falling due after more than one year | 10 | ( | ( | |||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Capital redemption reserve | 11 | |||||||||
Profit and loss account | 11 | |||||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 20 January 2023 | ||||||||||
And signed on its behalf by: | ||||||||||
C.J. Short | ||||||||||
Director | ||||||||||
20 January 2023 |
Fairhome Limited Notes to the Accounts Registrar |
for the year ended 31 July 2022 | ||||||||||||||
1 | General information | |||||||||||||
Its registered number is: 00736829 | ||||||||||||||
Its registered office is: | ||||||||||||||
2 | Accounting policies | |||||||||||||
Turnover | ||||||||||||||
Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. | ||||||||||||||
Intangible fixed assets | ||||||||||||||
Taxation | ||||||||||||||
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. | ||||||||||||||
Freehold investment property | ||||||||||||||
No depreciation is provided in respect of investment properties. | ||||||||||||||
Stocks | ||||||||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses. | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other creditors | ||||||||||||||
Provisions | ||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. | ||||||||||||||
3 | Employees | |||||||||||||
2022 | 2021 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
4 | Intangible fixed assets | |||||||||||||
Goodwill | Total | |||||||||||||
£ | £ | |||||||||||||
Cost | ||||||||||||||
At 1 August 2021 | ||||||||||||||
At 31 July 2022 | ||||||||||||||
Amortisation and impairment | ||||||||||||||
Net book values | ||||||||||||||
At 31 July 2022 | ||||||||||||||
At 31 July 2021 | ||||||||||||||
5 | Tangible fixed assets | |||||||||||||
Land and buildings | Plant and machinery | Total | ||||||||||||
£ | £ | £ | ||||||||||||
Cost or revaluation | ||||||||||||||
At 1 August 2021 | ||||||||||||||
At 31 July 2022 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 August 2021 | ||||||||||||||
Charge for the year | ||||||||||||||
At 31 July 2022 | ||||||||||||||
Net book values | ||||||||||||||
At 31 July 2022 | ||||||||||||||
At 31 July 2021 | ||||||||||||||
6 | Investment property | |||||||||||||
Freehold Investment Property | ||||||||||||||
£ | ||||||||||||||
Valuation | ||||||||||||||
At 1 August 2021 | ||||||||||||||
At 31 July 2022 | ||||||||||||||
7 | Stocks | |||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Raw materials and consumables | ||||||||||||||
8 | Debtors | |||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Trade debtors | ||||||||||||||
VAT recoverable | ||||||||||||||
Other debtors | ||||||||||||||
Prepayments and accrued income | ||||||||||||||
9 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
Corporation tax | ||||||||||||||
Other taxes and social security | ||||||||||||||
Loans from directors | ||||||||||||||
Other creditors | ||||||||||||||
Accruals and deferred income | ||||||||||||||
10 | Creditors: | |||||||||||||
amounts falling due after more than one year | ||||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
11 | Reserves | |||||||||||||
Capital redemption reserve | Total other reserves | |||||||||||||
£ | £ | |||||||||||||
At 1 August 2020 | ||||||||||||||
At 31 July 2021 and 1 August 2021 | ||||||||||||||
At 31 July 2022 | ||||||||||||||
12 | Dividends | |||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Dividends for the period: | ||||||||||||||
Dividends paid in the period | - | 180,000 | ||||||||||||
180,000 | ||||||||||||||
Dividends by type: | ||||||||||||||
Equity dividends | ||||||||||||||
- | 180,000 | |||||||||||||