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REGISTERED NUMBER: 03685110 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

U.K. FUNFAIRS LIMITED

U.K. FUNFAIRS LIMITED (REGISTERED NUMBER: 03685110)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


U.K. FUNFAIRS LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: W F Stevens





REGISTERED OFFICE: 1a West Road
Nottage
Porthcawl
Mid Glamorgan
CF36 3SN





REGISTERED NUMBER: 03685110 (England and Wales)





ACCOUNTANTS: Hayvenhursts Limited
Chartered Accountants
Fairway House
Links Business Park
St Mellons, Cardiff
CF3 OLT

U.K. FUNFAIRS LIMITED (REGISTERED NUMBER: 03685110)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 34 46

CURRENT ASSETS
Stocks 5 238,143 242,936
Debtors 6 143,450 104,216
Cash at bank and in hand 73,168 29,109
454,761 376,261
CREDITORS
Amounts falling due within one year 7 (1,068,167 ) (1,213,175 )
NET CURRENT LIABILITIES (613,406 ) (836,914 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(613,372

)

(836,868

)

CREDITORS
Amounts falling due after more than
one year

8

(6,287

)

(9,519

)
NET LIABILITIES (619,659 ) (846,387 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (619,661 ) (846,389 )
SHAREHOLDERS' FUNDS (619,659 ) (846,387 )

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

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

The director acknowledges his 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.

U.K. FUNFAIRS LIMITED (REGISTERED NUMBER: 03685110)

Balance Sheet - continued
31 OCTOBER 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 30 July 2024 and were signed by:





W F Stevens - Director


U.K. FUNFAIRS LIMITED (REGISTERED NUMBER: 03685110)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

U.K. Funfairs 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

U.K. FUNFAIRS LIMITED (REGISTERED NUMBER: 03685110)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on a going concern basis, based on the continuing financial support to be given to the company by its directors and bank.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 November 2022
and 31 October 2023 357
DEPRECIATION
At 1 November 2022 311
Charge for year 12
At 31 October 2023 323
NET BOOK VALUE
At 31 October 2023 34
At 31 October 2022 46

5. STOCKS
2023 2022
£    £   
Stocks 31,541 22,449
Work-in-progress 206,602 220,487
238,143 242,936

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,618 7,618
Other debtors 41,256 65,785
Amounts due from related company 93,970 -
Prepayments 606 30,813
143,450 104,216

U.K. FUNFAIRS LIMITED (REGISTERED NUMBER: 03685110)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,232 3,250
Trade creditors 583,717 571,707
Social security and other taxes 168 -
Other creditors 112,556 111,455
Due to Related Businesses 295,654 295,654
Directors' current accounts 11,672 61,880
Accruals and deferred income 61,168 169,229
1,068,167 1,213,175

The directors current account is interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,213 3,232
Bank loans - 2-5 years 3,074 6,287
6,287 9,519

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   

10. RELATED PARTY DISCLOSURES

World Carnival Limited is a company registered in Hong Kong. Mr Stevens has an interest in this company. At the year end a balance of £238,654 (2022 - £238,654) was owed to World Carnival Limited.

Escal Investments Limited is a business which Mr Stevens brother in law controls. At the year end an amount of £57,000 (2022- £57,000) was due to Escal Investments Limited.

Brighterlight LED Limited is a business which Mr Stevens controls. At the year end an amount of £96,870 (2022 - £26,368) was due from Brighterlight LED Limited.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr W.F. Stevens who owns 100% of the share capital.