1 April 2023 false No description of principal activity Taxfiler 2024.6.1 11872698business:PrivateLimitedCompanyLtd2023-04-012024-03-31 118726982023-03-31 118726982023-04-012024-03-31 11872698business:AuditExemptWithAccountantsReport2023-04-012024-03-31 11872698business:FilletedAccounts2023-04-012024-03-31 118726982024-03-31 11872698business:Director12023-04-012024-03-31 11872698business:RegisteredOffice2023-04-012024-03-31 118726982023-03-31 11872698core:WithinOneYear2024-03-31 11872698core:WithinOneYear2023-03-31 11872698core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 11872698core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 11872698core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 11872698core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 11872698core:PreviouslyStatedAmount2024-03-31 11872698core:PreviouslyStatedAmount2023-03-31 11872698business:SmallEntities2023-04-012024-03-31 11872698countries:EnglandWales2023-04-012024-03-31 11872698core:PlantMachinery2023-04-012024-03-31 11872698core:MotorVehicles2023-04-012024-03-31 11872698core:FurnitureFittings2023-04-012024-03-31 11872698core:ComputerEquipment2023-04-012024-03-31 11872698core:PlantMachinery2023-03-31 11872698core:MotorVehicles2023-03-31 11872698core:FurnitureFittings2023-03-31 11872698core:ComputerEquipment2023-03-31 11872698core:PlantMachinery2024-03-31 11872698core:MotorVehicles2024-03-31 11872698core:FurnitureFittings2024-03-31 11872698core:ComputerEquipment2024-03-31 11872698core:BetweenOneFiveYears2024-03-31 11872698core:BetweenOneFiveYears2023-03-31 11872698core:MoreThanFiveYears2024-03-31 11872698core:MoreThanFiveYears2023-03-31 11872698business:Director112023-04-012024-03-31 11872698business:Director112023-03-31 11872698business:Director112024-03-31 118726982022-04-012023-03-31 iso4217:GBP xbrli:pure
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
Page
- 2 -
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
- 3 -
Fair Price Windows and Doors Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
64,705 
59,320 
Current assets
Inventories
43,298 
35,000 
Debtors
78,598 
116,057 
Cash at bank and in hand
59,139 
65,723 
181,035 
216,780 
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 
Capital and reserves
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
- 4 -
Fair Price Windows and Doors Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
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.
Presentation currency
The accounts are presented in £ sterling.
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. 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
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 taxation
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.
- 5 -
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 
Depreciation
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 
Net book value
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 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
10,306 
- 
Trade debtors
16,722 
65,074 
Accrued income and prepayments
8,072 
225 
Other debtors
43,498 
50,758 
78,598 
116,057 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
14,625 
Trade creditors
14,109 
41,048 
Taxes and social security
23,183 
9,356 
Other creditors
4,911 
2,095 
Accruals
- 
20,753 
Deferred income
12,744 
- 
54,947 
87,877 
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 
54,000 
66,000 
- 6 -
Fair Price Windows and Doors Ltd Notes to the Accounts for the year ended 31 March 2024
8
Loans to directors
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).
- 7 -