Fayre Oaks Limited Accounts Cover
Fayre Oaks Limited
Company No. 02604424
Directors' Report and Audited Accounts
30 September 2024
Fayre Oaks Limited Contents
Pages
Company Information
2
Directors' Report
3 to 4
Auditor's Report
5 to 7
Profit and Loss Account
8
Statement of Comprehensive Income
9
Balance Sheet
10
Statement of Changes in Equity
11
Notes to the Accounts
12 to 17
Fayre Oaks Limited Company Information
Directors
P. Connelly
R. Daw
B. James
L. James
Secretary
R. Daw
Registered Office
Woodmans Cottage
West Hay Road
Wrington
Bristol
BS40 5NW
Auditor
Winter & Co
Melbury House
34 Southborough Road
Bromley
Kent
BR1 2EB
Fayre Oaks Limited Directors Report
The Directors present their report and the accounts for the year ended 30 September 2024.
Principal activities
The principal activity of the company during the year under review was trading in food products and the derivatives thereof.
Directors
The Directors who served at any time during the year were as follows:
P. Connelly
R. Daw
B. James
L. James
Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
*
select suitable accounting policies and then apply them consistently;
*
make judgments and estimates that are reasonable and prudent;
*
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
B. James
Director
31 March 2025
Fayre Oaks Limited Audit Report Unqualified
Independent Auditor's Report to the members of Fayre Oaks Limited
Opinion
We have audited the accounts of Fayre Oaks Limited (the 'company') for the year ended 30 September 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the Notes to the Accounts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
• give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit
for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with applicable law and International Standards on Auditing (UK) (ISAs (UK). Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 1 to the accounts, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibillities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the accounts and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements , we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based upon the work undertaken in the course of the audit:
• the information given in the directors' report for the financial year for which the accounts are
prepared is consistent with the accounts; and
• the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or
• the accounts are not in agreement with the accounting records and returns; or
• certain disclosures of directors’ remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit; or
• the directors were not entitled to prepare the accounts in accordance with the small companies
regime and take advantage of the small companies' exemptions in preparing the directors' report
and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement found in the directors' report, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities including fraud is as detailed below:
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
We identified the laws and regulations applicable to the company through discussions with Directors and other management and from our commercial knowledge and experience of the sector.
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management. Requesting they consider where there was susceptibility to fraud, their knowledge of suspected, alleged and actual fraud.
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. Performed analytical procedures to identify any unusual or unexpected relationships.
Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.
Performed analytical procedures to identify any unusual or unexpected relationships.
Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.
Investigating the rationale behind significant or unusual transactions.
Agreeing financial statement disclosures to underlying supporting documentation.
Reading the minutes of meetings of those charged with governance.
A further description of our responsibilities for the audit of the accounts is located on the FRC's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of this report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Christopher Winter
Senior Statutory Auditor
For and on behalf of
Winter & Co
Accountants and Statutory Auditors
Melbury House
34 Southborough Road
Bromley
Kent
BR1 2EB
31 March 2025
Fayre Oaks Limited Profit and Loss Account
for the year ended 30 September 2024
2024
2023
£
£
Turnover
18,403,627
27,149,813
Cost of Sales
(14,849,237)
(21,851,838)
Gross profit
3,554,390
5,297,975
Distribution costs and selling expenses
(5,492)
(10,384)
Administrative expenses
(1,647,082)
(1,253,920)
Operating profit
1,901,8164,033,671
Other interest receivable
60,451
88,001
Fair value adjustments
26,138
35,155
Profit on ordinary activities before taxation
1,988,4054,156,827
Taxation
(490,690)
(912,930)
Profit for the financial year after taxation
1,497,7153,243,897
Fayre Oaks Limited Statement of Comprehensive Income
STATEMENT OF COMPREHENSIVE INCOME
for the year ended 30 September 2024
2024
2023
£
£
Profit for the financial year after taxation
1,497,7153,243,897
Total comprehensive income for the period
1,497,7153,243,897
Fayre Oaks Limited Balance Sheet
at
30 September 2024
Company No.
02604424
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
138,6929,242
138,692
9,242
Current assets
Debtors
5
2,463,989
2,035,539
Cash at bank and in hand
3,755,132
4,461,759
6,219,121
6,497,298
Creditors: Amount falling due within one year
6
(3,547,302)
(3,619,242)
Net current assets
2,671,819
2,878,056
Total assets less current liabilities
2,810,511
2,887,298
Provisions for liabilities
Deferred taxation
(25,498)
-
Net assets
2,785,013
2,887,298
Capital and reserves
Called up share capital
20,00020,000
Profit and loss account
8
2,765,0132,867,298
Total equity
2,785,0132,887,298
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
Approved by the board on 31 March 2025 and signed on its behalf by:
B. James
Director
31 March 2025
Fayre Oaks Limited Statement of Changes in Equity
for the year ended 30 September 2024
Share Capital
Retained earnings
Total equity
£
£
£
At 1 October 2022
20,000
2,223,401
2,243,401
Profit for the period
3,243,897
3,243,897
Dividends
(2,600,000)
(2,600,000)
At 30 September 2023 and 1 October 2023
20,000
2,867,2982,887,298
Profit for the period
1,497,715
1,497,715
Dividends
(1,600,000)
(1,600,000)
At 30 September 2024
20,000
2,765,0132,785,013
Fayre Oaks Limited Notes to the Accounts
for the year ended 30 September 2024
1
General information
Fayre Oaks Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 02604424
Its registered office is:
Woodmans Cottage
West Hay Road
Wrington
Bristol
BS40 5NW
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
25% cost
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
99
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 October 2023
--50,97950,979
Additions
87,0006,50060,718154,218
Disposals
--
(4,272)
(4,272)
At 30 September 2024
87,0006,500107,425200,925
Depreciation
At 1 October 2023
--41,73741,737
Charge for the year
10,87597511,84623,696
Disposals
--
(3,200)
(3,200)
At 30 September 2024
10,87597550,38362,233
Net book values
At 30 September 2024
76,1255,52557,042138,692
At 30 September 2023
-
-
9,242
9,242
5
Debtors
2024
2023
£
£
Trade debtors
1,910,4961,537,280
Group undertakings
500,000-
Deferred tax asset
-
330
VAT recoverable
-
465,707
Prepayments and accrued income
53,493
32,222
2,463,9892,035,539
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
2,245,466
2,086,918
Taxes and social security
261,161
650,643
Accruals and deferred income
1,040,675881,681
3,547,3023,619,242
7
Share Capital
Ordinary share capital
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
9
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
1,600,000
2,600,000
1,600,000
2,600,000
Dividends by type:
Equity dividends
1,600,0002,600,000
1,600,000
2,600,000
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