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Company Registration No. 11040719 (England and Wales)
Fairkind Ltd Unaudited accounts for the year ended 31 October 2023
Fairkind Ltd Unaudited accounts Contents
Page
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Fairkind Ltd Company Information for the year ended 31 October 2023
Director
Mawgan Victoria Hall
Company Number
11040719 (England and Wales)
Registered Office
Fairkind Child Piries Place Horsham West Sussex RH12 1EH
Accountants
Alison Austin FCA BFP Home Farm House St. Leonard's Forest Horsham West Sussex RH13 6PH
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Fairkind Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,696 
2,120 
Current assets
Inventories
20,000 
14,103 
Debtors
13,598 
782 
Cash at bank and in hand
150 
5,245 
33,748 
20,130 
Creditors: amounts falling due within one year
(20,065)
(14,321)
Net current assets
13,683 
5,809 
Total assets less current liabilities
15,379 
7,929 
Creditors: amounts falling due after more than one year
(16,008)
(6,400)
Net (liabilities)/assets
(629)
1,529 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(729)
1,429 
Shareholders' funds
(629)
1,529 
For the year ending 31 October 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 her 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 4 August 2024 and were signed on its behalf by
Mawgan Victoria Hall Director Company Registration No. 11040719
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Fairkind Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Fairkind Ltd is a private company, limited by shares, registered in England and Wales, registration number 11040719. The registered office is Fairkind Child, Piries Place, Horsham, West Sussex, RH12 1EH.
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 year, 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.
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.
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
20% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price.
Other operating income
The other operating income comprises £1,875 of grants and £4,588 write off of the loan from the former director and owner of the business, Patricia Fitzroy as agreed between Ms Fitzroy and the new owner Ms Hall.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 November 2022
5,624 
At 31 October 2023
5,624 
Depreciation
At 1 November 2022
3,504 
Charge for the year
424 
At 31 October 2023
3,928 
Net book value
At 31 October 2023
1,696 
At 31 October 2022
2,120 
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Fairkind Ltd Notes to the Accounts for the year ended 31 October 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,932 
- 
Accrued income and prepayments
- 
782 
Other debtors
11,666 
- 
13,598 
782 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
9,963 
2,400 
VAT
- 
72 
Trade creditors
9,397 
5,287 
Taxes and social security
27 
36 
Other creditors
88 
3,288 
Loans from directors
- 
2,545 
Accruals
590 
693 
20,065 
14,321 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,008 
6,400 
The company received a bounceback loan of £12,000 repayable over 6 years and an Enterprise Fund loan of £20,000 repayable over 5 years.
8
Average number of employees
During the year the average number of employees was 2 (2022: 3).
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