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REGISTERED NUMBER: 08882026 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

FAIR PRICE EQUESTRIAN LIMITED

FAIR PRICE EQUESTRIAN LIMITED (REGISTERED NUMBER: 08882026)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAIR PRICE EQUESTRIAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Miss L C Fair
Mrs M J Fair
C R Fair





REGISTERED OFFICE: 31 High Street
Haverhill
Suffolk
CB9 8AD





REGISTERED NUMBER: 08882026 (England and Wales)





ACCOUNTANTS: Hackett Griffey LLP
Chartered Certified Accountants
31 High Street
Haverhill
Suffolk
CB9 8AD

FAIR PRICE EQUESTRIAN LIMITED (REGISTERED NUMBER: 08882026)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,193 27,070

CURRENT ASSETS
Stocks 130,980 90,498
Cash at bank 95 35
131,075 90,533
CREDITORS
Amounts falling due within one year 5 325,693 218,025
NET CURRENT LIABILITIES (194,618 ) (127,492 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(174,425

)

(100,422

)

CREDITORS
Amounts falling due after more than one
year

6

2,250

3,250
NET LIABILITIES (176,675 ) (103,672 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (176,676 ) (103,673 )
SHAREHOLDERS' FUNDS (176,675 ) (103,672 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

FAIR PRICE EQUESTRIAN LIMITED (REGISTERED NUMBER: 08882026)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





Mrs M J Fair - Director


FAIR PRICE EQUESTRIAN LIMITED (REGISTERED NUMBER: 08882026)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Fair Price Equestrian 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of VAT.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 Income Statement, 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.

Going concern
The Accounts have been prepared on the the going concern basis dependent upon the continued support of the directors, who are the major creditors.

FAIR PRICE EQUESTRIAN LIMITED (REGISTERED NUMBER: 08882026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 13,579 31,740 477 45,796
DEPRECIATION
At 1 March 2022 11,570 6,867 289 18,726
Charge for year 502 6,218 157 6,877
At 28 February 2023 12,072 13,085 446 25,603
NET BOOK VALUE
At 28 February 2023 1,507 18,655 31 20,193
At 28 February 2022 2,009 24,873 188 27,070

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 73,434 41,683
Trade creditors 1,820 -
Taxation and social security 5,711 1,288
Other creditors 244,728 175,054
325,693 218,025

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,250 3,250