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REGISTERED NUMBER: 03963027 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Fairway Training Limited

Fairway Training Limited (Registered number: 03963027)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fairway Training Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Shirley
D A Shirley





SECRETARY: Mrs S K Shirley





REGISTERED OFFICE: Prospect House
Fishing Line Road
Redditch
Worcestershire
B97 6EW





REGISTERED NUMBER: 03963027 (England and Wales)





ACCOUNTANTS: Attwoods
Chartered Certified Accountants
182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ

Fairway Training Limited (Registered number: 03963027)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 104,242 88,459
104,242 88,459

CURRENT ASSETS
Debtors 6 29,661 51,453
Cash at bank and in hand 979,810 949,954
1,009,471 1,001,407
CREDITORS
Amounts falling due within one year 7 277,032 297,740
NET CURRENT ASSETS 732,439 703,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

836,681

792,126

PROVISIONS FOR LIABILITIES 18,595 21,624
NET ASSETS 818,086 770,502

CAPITAL AND RESERVES
Called up share capital 51 51
Retained earnings 818,035 770,451
SHAREHOLDERS' FUNDS 818,086 770,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Fairway Training Limited (Registered number: 03963027)

Balance Sheet - continued
31 March 2024


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 23 August 2024 and were signed on its behalf by:





A Shirley - Director


Fairway Training Limited (Registered number: 03963027)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fairway Training 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Office equipment - 33% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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.

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.

Fairway Training Limited (Registered number: 03963027)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2023 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Office and Computer
property equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 - 20,031 15,279 182,492 217,802
Additions 34,452 - 25,665 10,795 70,912
At 31 March 2024 34,452 20,031 40,944 193,287 288,714
DEPRECIATION
At 1 April 2023 - 20,031 15,059 94,253 129,343
Charge for year 2,871 - 2,429 49,829 55,129
At 31 March 2024 2,871 20,031 17,488 144,082 184,472
NET BOOK VALUE
At 31 March 2024 31,581 - 23,456 49,205 104,242
At 31 March 2023 - - 220 88,239 88,459

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,119 1,072
Other debtors 1,461 3,331
A-Y Comfort loan - 20,000
Prepayments and accrued income 27,081 27,050
29,661 51,453

Fairway Training Limited (Registered number: 03963027)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 16,956 66,478
Taxation 32,139 17,532
Social security and other taxes 72,984 80,167
Pensions payable 11,402 -
VAT 89,813 58,731
Accruals and deferred income 53,738 74,832
277,032 297,740

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 69,576 89,763
Between one and five years 360,672 45,232
In more than five years 406,912 -
837,160 134,995

9. CHARITABLE DONATIONS AND EXPENDITURE

The board authorised charitable donations of £60,199 (2023 - £72,795) during the year. £56,948 of this has been paid to Compassion UK for a project in Southern Ghana.

Transforming Health in Ghana through new facilities
The intervention is focused on Southern Ghana and for £56,948.23 this will equip two Compassion child development centres to build water boreholes in the Asabi and Adamrobe communities and toilet blocks in the Compassion child development centres of the Gyakiti and Ekumfi Narkwa communities. This will assist in delivering quality support to 1129 children living in extreme poverty. Together, we will support vulnerable children with good sanitation that will significantly improve their health and quality of life.

The remaining sum has yet to be allocated to a specific cause.

Accruals included within donations for amounts agreed by directors in the next financial year are £50,000 (2023 £70,000).