Company registration number:
Fairytale Endings Limited
for the Year Ended 30 March 2023
Fairytale Endings Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Fairytale Endings Limited
Company Information
Director |
Mrs G T O'Neill |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Fairytale Endings Limited
for the Year Ended 30 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fairytale Endings Limited for the year ended 30 March 2023 as set out on pages 3 to 6 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/regulation.
This report is made solely to the Board of Directors of Fairytale Endings Limited, as a body, in accordance with the terms of our engagement letter dated 10 May 2018. Our work has been undertaken solely to prepare for your approval the accounts of Fairytale Endings Limited and state those matters that we have agreed to state to the Board of Directors of Fairytale Endings 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 Fairytale Endings Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fairytale Endings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fairytale Endings Limited. You consider that Fairytale Endings 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 accounts of Fairytale Endings 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 accounts.
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Chartered Accountants
St. Helens
Merseyside
WA9 1UA
Fairytale Endings Limited
(Registration number: 10409727)
Balance Sheet as at 30 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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( |
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Shareholders' funds |
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For the financial year ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Fairytale Endings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023
General information |
The address of its registered office is:
England
The principal place of business is:
Unit 5
The Metquarter
35 Whitechapel
Liverpool
L1 6DA
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises of the sale of goods and is shown net of value added tax, returns, rebates and discounts. Sales are recognised when goods are sold to the customer.
Tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted.
Tangible assets
All fixed assets are initially recorded at cost.
Fairytale Endings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, less its residual value, over the useful economic life of that asset, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
25% straight line |
Short leasehold property improvements |
20% straight line |
Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Defined contribution pension obligation
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held seperately from those of the company. The annual contributions payable are charged to the profit and loss account.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Short leasehold property improvements |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 31 March 2022 |
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Additions |
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At 30 March 2023 |
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Depreciation |
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At 31 March 2022 |
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Charge for the year |
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At 30 March 2023 |
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Carrying amount |
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At 30 March 2023 |
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At 30 March 2022 |
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Fairytale Endings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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- |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Corporation tax |
9,410 |
9 |
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Creditors include bank loans and overdrafts which are secured of £8,876 (2022 - £8,876).
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £