Registered number
02773749
FAIRPORT LIMITED
Filleted Accounts
31 December 2023
FAIRPORT LIMITED
Registered number: 02773749
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,000,000 2,000,000
Current assets
Cash at bank and in hand 26,083 34,757
Creditors: amounts falling due within one year 4 (203,373) (237,532)
Net current liabilities (177,290) (202,775)
Net assets 1,822,710 1,797,225
Capital and reserves
Called up share capital 2 2
Revaluation reserve 5 1,707,599 1,707,599
Profit and loss account 115,109 89,624
Shareholders' funds 1,822,710 1,797,225
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ammar Wafaie
Director
Approved by the board on 16 July 2024
FAIRPORT LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 2,000,000
At 31 December 2023 2,000,000
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 2,000,000
At 31 December 2022 2,000,000
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 22,154 22,154
Taxation and social security costs 63,571 115,005
Other creditors 117,648 100,373
203,373 237,532
5 Revaluation reserve 2023 2022
£ £
At 1 January 2023 1,707,599 1,707,599
At 31 December 2023 1,707,599 1,707,599
6 Other information
FAIRPORT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
37a Curzon Street
London
W1J 7TX
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