REGISTERED NUMBER: 08419248 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FAIRMEAD MANAGED SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D H Green

REGISTERED OFFICE:

88 North Street

Hornchurch

Essex

RM11 1SR

REGISTERED NUMBER:

08419248 (England and Wales)

ACCOUNTANTS:

Lipson & Co

88 North Street

Hornchurch

Essex

RM11 1SR

FIXED ASSETS

Tangible assets

4

10,270

10,924

CURRENT ASSETS

Debtors

5

2,757,680

2,431,808

Cash at bank

412,032

252,515

3,169,712

2,684,323

CREDITORS

Amounts falling due within one year

6

1,891,214

1,914,899

NET CURRENT ASSETS

1,278,498

769,424

TOTAL ASSETS LESS CURRENT LIABILITIES

1,288,768

780,348

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,288,668

780,248

SHAREHOLDERS' FUNDS

1,288,768

780,348

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 5 September 2025 and were signed by:

D H Green - Director

1.	STATUTORY INFORMATION

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

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.

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 30 (2023 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

43,554

Additions

2,770

At 31 December 2024

46,324

DEPRECIATION

At 1 January 2024

32,630

Charge for year

3,424

At 31 December 2024

36,054

NET BOOK VALUE

At 31 December 2024

10,270

At 31 December 2023

10,924

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,504,094

2,389,482

Prepayments and accrued income

253,586

42,326

2,757,680

2,431,808

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

1,389,339

1,323,730

Trade creditors

117,765

153,957

Tax

235,063

136,471

Social security and other taxes

32,002

189,916

VAT

53,258

33,972

Other creditors

34,111

30,135

Directors' current accounts

214

2,288

Accruals and deferred income

29,462

44,430

1,891,214

1,914,899

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

1,389,339

1,323,730

The invoice finance facility is secured by way of a fixed and floating charge on the assets of the company.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is D H Green.