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REGISTERED NUMBER: 04313814 (England and Wales)

















FAIRWEIGH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






FAIRWEIGH LIMITED (REGISTERED NUMBER: 04313814)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


FAIRWEIGH LIMITED (REGISTERED NUMBER: 04313814)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,524 13,921

CURRENT ASSETS
Debtors 5 54,948 55,720
Cash at bank 92,037 133,694
146,985 189,414
CREDITORS
Amounts falling due within one year 6 92,708 72,960
NET CURRENT ASSETS 54,277 116,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,801

130,375

PROVISIONS FOR LIABILITIES 8,269 2,645
NET ASSETS 89,532 127,730

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 89,530 127,728
SHAREHOLDERS' FUNDS 89,532 127,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:





J D Sage - Director


FAIRWEIGH LIMITED (REGISTERED NUMBER: 04313814)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Fairweigh Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04313814

Registered office: Broad House
The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

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.

Going concern
The financial statements have been prepared on a going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Represents the net value of goods sold and services supplied, excluding Value Added Tax.

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

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.


FAIRWEIGH LIMITED (REGISTERED NUMBER: 04313814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 42,590
Additions 37,108
Disposals (24,356 )
At 31 March 2023 55,342
DEPRECIATION
At 1 April 2022 28,669
Charge for year 3,170
Eliminated on disposal (20,021 )
At 31 March 2023 11,818
NET BOOK VALUE
At 31 March 2023 43,524
At 31 March 2022 13,921

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 52,737 54,380
Other debtors 2,211 1,340
54,948 55,720

FAIRWEIGH LIMITED (REGISTERED NUMBER: 04313814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,638 1,942
Amounts owed to participating interests 57,600 -
Taxation and social security 5,070 34,308
Other creditors 25,400 36,710
92,708 72,960

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J D Sage
Balance outstanding at start of year (24,314 ) 9,418
Amounts advanced 23,500 768
Amounts repaid (14,000 ) (34,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,814 ) (24,314 )

8. RELATED PARTY DISCLOSURES

As at the year end, the company had an amount of £57,600 due to Archwood Systems Limited, a company under common control.