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Company registration number: 10409727

Fairytale Endings Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 March 2023

 

Fairytale Endings Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Fairytale Endings Limited

Company Information

Director

Mrs G T O'Neill

Registered office

7 Waterside Court
St. Helens
Merseyside
WA9 1UA

Accountants

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

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.

......................................

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

14 February 2024

 

Fairytale Endings Limited

(Registration number: 10409727)
Balance Sheet as at 30 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,640

8,710

Current assets

 

Stocks

214,404

132,942

Debtors

5

3,744

2,095

Cash at bank and in hand

 

3,148

16,359

 

221,296

151,396

Creditors: Amounts falling due within one year

6

(86,424)

(60,074)

Net current assets

 

134,872

91,322

Total assets less current liabilities

 

142,512

100,032

Creditors: Amounts falling due after more than one year

6

(29,530)

(36,599)

Provisions for liabilities

(1,452)

(1,640)

Net assets

 

111,530

61,793

Capital and reserves

 

Called up share capital

75,001

75,001

Retained earnings

36,529

(13,208)

Shareholders' funds

 

111,530

61,793

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 9 February 2024
 

.........................................
Mrs G T O'Neill
Director

 

Fairytale Endings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023

1

General information

The address of its registered office is:
7 Waterside Court
St. Helens
Merseyside
WA9 1UA
England

The principal place of business is:
Unit 5
The Metquarter
35 Whitechapel
Liverpool
L1 6DA

2

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2022 - 4).

4

Tangible assets

Short leasehold property improvements
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 31 March 2022

11,512

5,489

17,001

Additions

500

1,950

2,450

At 30 March 2023

12,012

7,439

19,451

Depreciation

At 31 March 2022

6,721

1,570

8,291

Charge for the year

1,659

1,861

3,520

At 30 March 2023

8,380

3,431

11,811

Carrying amount

At 30 March 2023

3,632

4,008

7,640

At 30 March 2022

4,791

3,919

8,710

 

Fairytale Endings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023

5

Debtors

2023
£

2022
£

Trade debtors

1,278

-

Other debtors

2,466

2,095

3,744

2,095

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8,876

8,876

Trade creditors

 

29,838

11,020

Other creditors

 

38,300

40,169

Corporation tax

 

9,410

9

 

86,424

60,074

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
£

Due after one year

 

Loans and borrowings

29,530

36,599

7

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 £297,482 (2022 - £15,040). These are non cancellable operating leases.