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REGISTERED NUMBER: 05499728 (England and Wales)















FAIRPORT CARE SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FAIRPORT CARE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mrs N Farrant-D-Wilson





REGISTERED OFFICE: Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX





REGISTERED NUMBER: 05499728 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX

FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 571,058 573,251

CURRENT ASSETS
Debtors 6 34,871 34,054
Cash at bank and in hand 771 17,427
35,642 51,481
CREDITORS
Amounts falling due within one year 7 284,292 282,940
NET CURRENT LIABILITIES (248,650 ) (231,459 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,408

341,792

CREDITORS
Amounts falling due after more than one
year

8

(146,332

)

(211,191

)

PROVISIONS FOR LIABILITIES (1,723 ) (2,440 )
NET ASSETS 174,353 128,161

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 174,253 128,061
SHAREHOLDERS' FUNDS 174,353 128,161

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 director and authorised for issue on 2 April 2024 and were signed by:





Mrs N Farrant-D-Wilson - Director


FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)

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

1. STATUTORY INFORMATION

Fairport Care Services 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 (£).


The business address is 115 Percy Avenue, Broadstairs, CT10 3LD

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Turnover
Turnover represents amounts receivable in respect of services provided in connection with the company's principal activity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and 1% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)

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

3. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised when the performance related conditions imposed upon the receipt of the grant have been met. Where these have not been satisfied, these grants are recognised as liabilities. If grants are not conditional on future performance related conditions, then income is recognised when the grant proceeds are receivable. During the year the company received the following grants:

Employment allowance to contribute towards the Employer's National Insurance costs of employing staff.

A grant to cover the first year's interest on the Coronavirus Business Interruption Loan Scheme, covered by the UK Government.

FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position 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 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 statement of financial position date.

FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)

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

3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern
The director has assessed the major risks to which the company is exposed and assessed whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The director makes this assessment in respect of a period of at least one year from the date of approval of the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 21 ) .

FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 603,282 35,705 7,685 8,855 655,527
Additions - 1,933 7,500 639 10,072
Disposals - (2,449 ) - - (2,449 )
At 31 July 2023 603,282 35,189 15,185 9,494 663,150
DEPRECIATION
At 1 August 2022 48,459 26,604 584 6,629 82,276
Charge for year 5,211 1,770 2,793 1,321 11,095
Eliminated on disposal - (1,279 ) - - (1,279 )
At 31 July 2023 53,670 27,095 3,377 7,950 92,092
NET BOOK VALUE
At 31 July 2023 549,612 8,094 11,808 1,544 571,058
At 31 July 2022 554,823 9,101 7,101 2,226 573,251

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 25,185 519
Other debtors 9,686 33,535
34,871 34,054

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 68,035 59,877
Other loans - less than 1 yr 29,523 27,898
Trade creditors 4,589 2,416
Other taxes and PAYE taxes 37,559 33,294
Other creditors 66,435 45,627
Directors' Current Accounts 70,493 106,818
Accruals and deferred income 7,658 7,010
284,292 282,940

FAIRPORT CARE SERVICES LIMITED (REGISTERED NUMBER: 05499728)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 1-2 years 70,593 64,999
Bank loans - 2-5 years 75,739 138,987
Bank loans more 5 yr by instal - 7,205
146,332 211,191

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 7,205

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 122,655 147,543

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

11. FORMER DIRECTOR / SHAREHOLDER DEBT

In November 2022 a former director and shareholder failed to repay £25,196 he owed to the Company, and, as a consequence, a lien was exercised over his 25 shares, in accordance wih the Company's Articles of Association.

The individual's 25 shares were transferred, in accordance with the Shareholder's Agreement dated 2 March 2011, to Mrs Farrant-D-Wilson and Mr John Cook on 21 December 2022. The total consideration was £23,699.

Under Regulation 11 of the Company's Articles of Association the proceeds of the sale, after payment of costs, should be used to repay the debt due. The costs associated with exercising the lien were £14,167.20.

There, therefore, is an outstanding balance of £15,664.20 for which the former director and shareholder remains liable to the Company.