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REGISTERED NUMBER: 04419268 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

FAIRBREAK LIMITED

FAIRBREAK LIMITED (REGISTERED NUMBER: 04419268)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAIRBREAK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: C G Williams
P A McDougall





SECRETARY: R McDougall





REGISTERED OFFICE: Woodside Healthcare Centre
Woodside Road
Haydock
St. Helens
Merseyside
WA11 0NA





REGISTERED NUMBER: 04419268 (England and Wales)





ACCOUNTANTS: C A Hunter Limited
Britannia Chambers
26 George Street
St Helens
Merseyside
WA10 1BZ

FAIRBREAK LIMITED (REGISTERED NUMBER: 04419268)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 575,112 705,548
Tangible assets 5 78,926 111,789
Investments 6 43 43
654,081 817,380

CURRENT ASSETS
Stocks 176,954 185,309
Debtors 7 650,657 642,737
Cash at bank and in hand 181,152 183,846
1,008,763 1,011,892
CREDITORS
Amounts falling due within one year 8 736,405 741,792
NET CURRENT ASSETS 272,358 270,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

926,439

1,087,480

CREDITORS
Amounts falling due after more than one
year

9

(14,867

)

(23,664

)

PROVISIONS FOR LIABILITIES (14,570 ) (20,720 )
NET ASSETS 897,002 1,043,096

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 896,902 1,042,996
SHAREHOLDERS' FUNDS 897,002 1,043,096

FAIRBREAK LIMITED (REGISTERED NUMBER: 04419268)

BALANCE SHEET - continued
31 MAY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





C G Williams - Director


FAIRBREAK LIMITED (REGISTERED NUMBER: 04419268)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Fairbreak Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Goodwill
The goodwill arose on the hive up of the trade & assets of Brian H Donlon Pharmacy Limited into Fairbreak Limited in December 2006. Goodwill is being amortised evenly over its estimated useful life of twenty years.

Lease premium
Lease premiums are amortised over 24-25 years, in line with the term of the lease concerned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FAIRBREAK LIMITED (REGISTERED NUMBER: 04419268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Lease
Goodwill premium Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 2,258,400 437,892 2,696,292
AMORTISATION
At 1 June 2023 1,851,414 139,330 1,990,744
Amortisation for year 112,920 17,516 130,436
At 31 May 2024 1,964,334 156,846 2,121,180
NET BOOK VALUE
At 31 May 2024 294,066 281,046 575,112
At 31 May 2023 406,986 298,562 705,548

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 159,430 133,556 23,998 63,394 380,378
Additions - - 9,120 - 9,120
At 31 May 2024 159,430 133,556 33,118 63,394 389,498
DEPRECIATION
At 1 June 2023 69,772 133,556 21,228 44,033 268,589
Charge for year 30,740 - 3,209 8,034 41,983
At 31 May 2024 100,512 133,556 24,437 52,067 310,572
NET BOOK VALUE
At 31 May 2024 58,918 - 8,681 11,327 78,926
At 31 May 2023 89,658 - 2,770 19,361 111,789

FAIRBREAK LIMITED (REGISTERED NUMBER: 04419268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 43
NET BOOK VALUE
At 31 May 2024 43
At 31 May 2023 43

The investment relates to a 43% shareholding in an associate ,Haydock Medical Company Limited.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 389,272 389,133
Amounts owed by associates 197,773 192,773
Other debtors 63,612 60,831
650,657 642,737

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 9,300 9,780
Trade creditors 597,601 599,271
Taxation and social security 15,550 17,684
Other creditors 113,954 115,057
736,405 741,792

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 14,867 23,664

10. SECURED DEBTS

Santander Bank hold legal and fixed and floating debenture charges over the company's assets as security for banking facilities.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are D J Tournafond and A M Bayliss as joint executers of the Estate of Mr J C McDougall (deceased).