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REGISTERED NUMBER: 04377706 (England and Wales)















Financial Statements for the Year Ended 31 August 2024

for

Fairshields Limited

Fairshields Limited (Registered number: 04377706)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Fairshields Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: K S Obhrai





REGISTERED OFFICE: Unit 25, Sarum Business Complex, 1st Flo
Salisbury Road
Uxbridge
UB8 2RZ





REGISTERED NUMBER: 04377706 (England and Wales)





ACCOUNTANTS: Integral Associates Limited
Unit 25 Sarum Complex
Salisbury Road
Uxbridge
Middlesex
UB8 2RZ

Fairshields Limited (Registered number: 04377706)

Statement of Financial Position
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 443,994 462,525
443,994 462,525

CURRENT ASSETS
Stocks 6 15,152 12,012
Debtors 7 281,768 166,741
Cash at bank and in hand 61,979 149,626
358,899 328,379
CREDITORS
Amounts falling due within one year 8 166,345 155,540
NET CURRENT ASSETS 192,554 172,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

636,548

635,364

CREDITORS
Amounts falling due after more than
one year

9

(994,373

)

(1,158,944

)

PROVISIONS FOR LIABILITIES 11 (2,366 ) (2,516 )
NET LIABILITIES (360,191 ) (526,096 )

Fairshields Limited (Registered number: 04377706)

Statement of Financial Position - continued
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 100 100
Equity contribution reserve 13 89,128 89,128
Retained earnings 13 (449,419 ) (615,324 )
SHAREHOLDERS' FUNDS (360,191 ) (526,096 )

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

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

The director acknowledges his 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 director and authorised for issue on 28 May 2025 and were signed by:





K S Obhrai - Director


Fairshields Limited (Registered number: 04377706)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Fairshields 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Amortisation
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - over 15 years
Franchise Licenses - over 10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Equipment - 33% on cost and 20% on cost
Motor vehicles - 33% 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.


Fairshields Limited (Registered number: 04377706)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 26 (2023 - 24 ) .

Fairshields Limited (Registered number: 04377706)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Goodwill Licences Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 400,000 85,000 485,000
AMORTISATION
At 1 September 2023
and 31 August 2024 400,000 85,000 485,000
NET BOOK VALUE
At 31 August 2024 - - -
At 31 August 2023 - - -

5. TANGIBLE FIXED ASSETS
Long
Investment leasehold Fixtures Motor
property property & Equipment vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 400,000 3,765 1,008,789 48,903 1,461,457
Additions - - 5,777 - 5,777
At 31 August 2024 400,000 3,765 1,014,566 48,903 1,467,234
DEPRECIATION
At 1 September 2023 - 3,765 961,861 33,306 998,932
Charge for year - - 19,109 5,199 24,308
At 31 August 2024 - 3,765 980,970 38,505 1,023,240
NET BOOK VALUE
At 31 August 2024 400,000 - 33,596 10,398 443,994
At 31 August 2023 400,000 - 46,928 15,597 462,525

The director have considered the fair value of the investment property at the Balance Sheet date and are of the opinion that the carrying value at 31 August 2019 represents the fair value of the investment property.

6. STOCKS
31.8.24 31.8.23
£    £   
Stocks 15,152 12,012

Fairshields Limited (Registered number: 04377706)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 165,792 57,349
Other debtors - cash for
banking 6,377 3,170
Prepayments and accrued income 109,599 106,222
281,768 166,741

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 10)
11,163

11,163
Trade creditors 77,281 76,762
CorporationTax 711 713
PAYE and NIC 4,804 4,313
VAT 39,529 44,114
Other creditors 8,978 -
Company credit cards 18,366 12,675
Net wages 39 -
Accrued expenses 5,474 5,800
166,345 155,540

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

The bank loan is secured by a first legal charge over the investment property of the company.

10. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Bank loans < 1 year 11,163 11,163

Amounts falling due between one and two years:
Bank loans > 1 year 81,918 91,201

Fairshields Limited (Registered number: 04377706)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

11. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax
Provisions - deferred tax 2,366 2,516

Deferred
tax
£   
Balance at 1 September 2023 2,516
Provided during year (150 )
Balance at 31 August 2024 2,366

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary shares £1 100 100

13. RESERVES
Equity
Retained contribution
earnings reserve Totals
£    £    £   

At 1 September 2023 (615,324 ) 89,128 (526,196 )
Profit for the year 165,905 165,905
At 31 August 2024 (449,419 ) 89,128 (360,291 )

14. RELATED PARTY DISCLOSURES

Rent of £66,000 (2023: £66,000) was due to the parent undertaking during the year. The company has received an interest free loan of £152,819 (2023: £64,156) from the parent undertaking.

The company also received interest free loans of £4,112 (2023:£95,001) from the directors.

The company has also received an interest free loan from Bremwell Ltd, a related undertaking, of £208,053 (2023: £208,053).

Fairshields Limited (Registered number: 04377706)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

15. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Ridgmont Ltd, a company incorporated in Isle of Man.