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Company Registration No. 08828663 (England and Wales)
Fairdeal Housewares Limited Unaudited accounts for the period from 1 January 2022 to 30 April 2023
Fairdeal Housewares Limited Unaudited accounts Contents
Page
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Fairdeal Housewares Limited Company Information for the period from 1 January 2022 to 30 April 2023
Director
Mr Y. Perlman
Company Number
08828663 (England and Wales)
Registered Office
Brindley Goldstein Ltd 103 High Street Waltham Cross EN8 7AN
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross EN8 7AN
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Fairdeal Housewares Limited for the period from 1 January 2022 to 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fairdeal Housewares Limited for the period from 1 January 2022 to 30 April 2023 as set out on pages 5 - 8 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 icaew.com/membershandbook.
This report is made solely to the Board of Directors of Fairdeal Housewares Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2018. Our work has been undertaken solely to prepare for your approval the accounts of Fairdeal Housewares Limited and state those matters that we have agreed to state to the Board of Directors of Fairdeal Housewares Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fairdeal Housewares Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fairdeal Housewares 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 Fairdeal Housewares Limited. You consider that Fairdeal Housewares Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Fairdeal Housewares 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.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross EN8 7AN 2 April 2024
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Fairdeal Housewares Limited Statement of financial position as at 30 April 2023
2023 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
328,836 
331,673 
Current assets
Inventories
90,040 
85,000 
Debtors
- 
3,822 
Cash at bank and in hand
5,143 
2,132 
95,183 
90,954 
Creditors: amounts falling due within one year
(156,509)
(120,242)
Net current liabilities
(61,326)
(29,288)
Total assets less current liabilities
267,510 
302,385 
Creditors: amounts falling due after more than one year
(120,020)
(165,000)
Net assets
147,490 
137,385 
Capital and reserves
Called up share capital
30 
30 
Revaluation reserve
100,000 
100,000 
Profit and loss account
47,460 
37,355 
Shareholders' funds
147,490 
137,385 
For the period ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 April 2024 and were signed on its behalf by
Mr Y. Perlman Director Company Registration No. 08828663
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Fairdeal Housewares Limited Notes to the Accounts for the period from 1 January 2022 to 30 April 2023
1
Statutory information
Fairdeal Housewares Limited is a private company, limited by shares, registered in England and Wales, registration number 08828663. The registered office is Brindley Goldstein Ltd, 103 High Street, Waltham Cross, EN8 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% Straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Fairdeal Housewares Limited Notes to the Accounts for the period from 1 January 2022 to 30 April 2023
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2022
325,825 
25,059 
350,884 
Additions
- 
531 
531 
At 30 April 2023
325,825 
25,590 
351,415 
Depreciation
At 1 January 2022
- 
19,211 
19,211 
Charge for the period
- 
3,368 
3,368 
At 30 April 2023
- 
22,579 
22,579 
Net book value
At 30 April 2023
325,825 
3,011 
328,836 
At 31 December 2021
325,825 
5,848 
331,673 
5
Debtors
2023 
2021 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
3,822 
6
Creditors: amounts falling due within one year
2023 
2021 
£ 
£ 
Bank loans and overdrafts
14,240 
- 
VAT
5,930 
5,893 
Trade creditors
432 
- 
Taxes and social security
2,998 
5,975 
Other creditors
63,581 
- 
Loans from directors
67,978 
107,174 
Accruals
1,350 
1,200 
156,509 
120,242 
7
Creditors: amounts falling due after more than one year
2023 
2021 
£ 
£ 
Bank loans
16,520 
45,000 
Other creditors
103,500 
120,000 
120,020 
165,000 
8
Share capital
2023 
2021 
£ 
£ 
Allotted, called up and fully paid:
30 Ordinary shares of £1 each
30 
30 
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Fairdeal Housewares Limited Notes to the Accounts for the period from 1 January 2022 to 30 April 2023
9
Transactions with related parties
The company was under the control of Mr Y. Perlman throughout the current period. Mr Y. Perlman is personally interested in 50% of the company's issued share capital. In addition, Mr V. Perlman is personally interested in the remaining 50% of the company's issued share capital.
10
Average number of employees
During the period the average number of employees was 5 (2021: 3).
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