Company Registration No. 11872698 (England and Wales)
Fair Price Windows and Doors Ltd
Unaudited accounts
for the year ended 31 March 2024
Fair Price Windows and Doors Ltd
Unaudited accounts
Contents
Fair Price Windows and Doors Ltd
Company Information
for the year ended 31 March 2024
Director
Mr Artur Falenski
Company Number
11872698 (England and Wales)
Registered Office
Orchard House
Clyst St Mary
Exeter
EX5 1BR
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
Fair Price Windows and Doors Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
64,705
59,320
Cash at bank and in hand
59,139
65,723
Creditors: amounts falling due within one year
(54,947)
(87,877)
Net current assets
126,088
128,903
Total assets less current liabilities
190,793
188,223
Provisions for liabilities
Deferred tax
(10,146)
(11,270)
Net assets
180,647
176,953
Called up share capital
100
100
Profit and loss account
180,547
176,853
Shareholders' funds
180,647
176,953
For the year 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 director acknowledges his 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 December 2024 and were signed on its behalf by
Mr Artur Falenski
Director
Company Registration No. 11872698
Fair Price Windows and Doors Ltd
Notes to the Accounts
for the year ended 31 March 2024
Fair Price Windows and Doors Ltd is a private company, limited by shares, registered in England and Wales, registration number 11872698. The registered office is Orchard House, Clyst St Mary, Exeter, EX5 1BR.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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. 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.
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:
Plant & machinery
25% reducing balance
Motor vehicles
25% straight line
Fixtures & fittings
25% reducing balance
Computer equipment
33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair Price Windows and Doors Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
4,570
68,928
30,674
11,393
115,565
Additions
374
-
28,333
563
29,270
Disposals
(374)
-
-
(4,158)
(4,532)
At 31 March 2024
4,570
68,928
59,007
7,798
140,303
At 1 April 2023
3,000
22,300
20,751
10,194
56,245
Charge for the year
393
17,232
4,966
429
23,020
On disposals
-
-
-
(3,667)
(3,667)
At 31 March 2024
3,393
39,532
25,717
6,956
75,598
At 31 March 2024
1,177
29,396
33,290
842
64,705
At 31 March 2023
1,570
46,628
9,923
1,199
59,320
Amounts falling due within one year
Trade debtors
16,722
65,074
Accrued income and prepayments
8,072
225
Other debtors
43,498
50,758
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
14,109
41,048
Taxes and social security
23,183
9,356
Other creditors
4,911
2,095
7
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
12,000
12,000
Later than one year and not later than five years
42,000
48,000
Later than five years
-
6,000
Fair Price Windows and Doors Ltd
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
39,820
53,142
60,440
32,522
39,820
53,142
60,440
32,522
Interest has been charged at 2.25%
9
Average number of employees
During the year the average number of employees was 2 (2023: 1).