2023-04-012024-03-312024-03-31false07198435FAIRCHILD GRAPHICS 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FAIRCHILD GRAPHICS LTD

Registered Number
07198435
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

FAIRCHILD GRAPHICS LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

P S Fairchild

Registered Address

4 Saffron Avenue
Wymondham
NR18 9FW

Registered Number

07198435 (England and Wales)
FAIRCHILD GRAPHICS LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets38,81710,742
8,81710,742
Current assets
Debtors43,042558
Cash at bank and on hand5,24712,021
8,28912,579
Creditors amounts falling due within one year5(7,816)(11,971)
Net current assets (liabilities)473608
Total assets less current liabilities9,29011,350
Provisions for liabilities6(1,676)(2,041)
Net assets7,6149,309
Capital and reserves
Called up share capital100100
Profit and loss account7,5149,209
Shareholders' funds7,6149,309
The financial statements were approved and authorised for issue by the Director on 12 April 2024, and are signed on its behalf by:
P S Fairchild
Director
Registered Company No. 07198435
FAIRCHILD GRAPHICS LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 234,62620,79525,421
Additions-1,0131,013
At 31 March 244,62621,80826,434
Depreciation and impairment
At 01 April 231,50613,17314,679
Charge for year7802,1582,938
At 31 March 242,28615,33117,617
Net book value
At 31 March 242,3406,4778,817
At 31 March 233,1207,62210,742
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,042-
Other debtors-558
Total3,042558
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts3122,675
Taxation and social security7,5049,296
Total7,81611,971
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,6762,041
Total1,6762,041