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Company Registration No. 08828663 (England and Wales)
Fairdeal Housewares Limited Unaudited accounts for the year ended 30 April 2024
Fairdeal Housewares Limited Unaudited accounts Contents
Page
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Fairdeal Housewares Limited Company Information for the year ended 30 April 2024
Director
Mr V. Perlman
Company Number
08828663 (England and Wales)
Registered Office
Brindley Goldstein Ltd 103 High Street Waltham Cross EN8 7AN
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross EN8 7AN
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Fairdeal Housewares Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fairdeal Housewares Limited for the year ended 30 April 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given 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 icaew.com/membershandbook.
This report is made solely to the Board of Directors of Fairdeal Housewares Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2018. Our work has been undertaken solely to prepare for your approval the accounts of Fairdeal Housewares Limited and state those matters that we have agreed to state to the Board of Directors of Fairdeal Housewares Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fairdeal Housewares Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fairdeal Housewares 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 of Fairdeal Housewares Limited. You consider that Fairdeal Housewares Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Fairdeal Housewares 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 statutory accounts.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross EN8 7AN 6 January 2025
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Fairdeal Housewares Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
327,277 
328,836 
Current assets
Inventories
110,550 
90,040 
Cash at bank and in hand
9,809 
5,143 
120,359 
95,183 
Creditors: amounts falling due within one year
(273,725)
(156,509)
Net current liabilities
(153,366)
(61,326)
Total assets less current liabilities
173,911 
267,510 
Creditors: amounts falling due after more than one year
(17,754)
(120,020)
Net assets
156,157 
147,490 
Capital and reserves
Called up share capital
30 
30 
Revaluation reserve
100,000 
100,000 
Profit and loss account
56,127 
47,460 
Shareholders' funds
156,157 
147,490 
For the year ending 30 April 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 6 January 2025 and were signed on its behalf by
Mr V. Perlman Director Company Registration No. 08828663
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Fairdeal Housewares Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Fairdeal Housewares Limited is a private company, limited by shares, registered in England and Wales, registration number 08828663. The registered office is Brindley Goldstein Ltd, 103 High Street, Waltham Cross, EN8 7AN.
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:
Fixtures & fittings
10% Straight Line
Computer equipment
33 1/3% 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.
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Fairdeal Housewares Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
325,825 
25,590 
- 
351,415 
Additions
- 
- 
1,000 
1,000 
At 30 April 2024
325,825 
25,590 
1,000 
352,415 
Depreciation
At 1 May 2023
- 
22,579 
- 
22,579 
Charge for the year
- 
2,559 
- 
2,559 
At 30 April 2024
- 
25,138 
- 
25,138 
Net book value
At 30 April 2024
325,825 
452 
1,000 
327,277 
At 30 April 2023
325,825 
3,011 
- 
328,836 
5
Inventories
2024 
2023 
£ 
£ 
Finished goods
110,550 
90,040 
110,550 
90,040 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
11,105 
14,240 
VAT
9,134 
5,930 
Trade creditors
25,280 
432 
Taxes and social security
2,399 
2,998 
Other creditors
136,254 
63,581 
Loans from directors
89,553 
67,978 
Accruals
- 
1,350 
273,725 
156,509 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
17,754 
16,520 
Other creditors
- 
103,500 
17,754 
120,020 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
30 Ordinary shares of £1 each
30 
30 
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Fairdeal Housewares Limited Notes to the Accounts for the year ended 30 April 2024
9
Transactions with related parties
The company was under the control of Mr Y. Perlman throughout the current period. Mr Y. Perlman is personally interested in 50% of the company's issued share capital. In addition, Mr V. Perlman is personally interested in the remaining 50% of the company's issued share capital.
10
Average number of employees
During the year the average number of employees was 4 (2023: 5).
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