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Fairmack Limited
Financial Statements
For the Period 17 March 2023 to 31 March 2024
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Fairmack Limited For the Period 17 March 2023 to 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fairmack Limited For the Period 17 March 2023 to 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Fairmack Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fairmack Limited and state those matters that we have agreed to state to the directors of Fairmack Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fairmack Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Fairmack 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 or loss of Fairmack Limited . You consider that Fairmack Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit of the accounts of Fairmack 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 financial statements.
Signed
11 July 2024
Cooper Adams Ltd
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
Page 1
Page 2
Balance Sheet
Registered number: 14738676
31 March 2024
Notes £ £
FIXED ASSETS
Tangible assets 4 1,133
1,133
CURRENT ASSETS
Debtors 10,599
Cash at bank and in hand 47,776
58,375
Creditors: Amounts Falling Due Within One Year (34,882 )
NET CURRENT ASSETS (LIABILITIES) 23,493
TOTAL ASSETS LESS CURRENT LIABILITIES 24,626
NET ASSETS 24,626
CAPITAL AND RESERVES
Called up share capital 5 2
Profit and Loss Account 24,624
SHAREHOLDERS' FUNDS 24,626
Page 2
Page 3
For the period ending 31 March 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Ana Martinez
Director
Mr Shaun McCaffrey
Director
11 July 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Fairmack Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14738676 . The registered office is 124 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & fittings 20% reducing balance
Computer equipment 33% reducing balance
2.4. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Tangible assets
Fixtures & fittings Computer equipment Total
£ £ £
Cost
As at 17 March 2023 - - -
Additions 124 1,216 1,340
As at 31 March 2024 124 1,216 1,340
Depreciation
As at 17 March 2023 - - -
Provided during the period 25 182 207
As at 31 March 2024 25 182 207
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 99 1,034 1,133
As at 17 March 2023 - - -
5. Share Capital
31 March 2024
£
Allotted, Called up and fully paid 2
Page 5