Fairway Motor Engineers Limited

Registered number

09813417

Filleted Accounts

30 November 2024

Fairway Motor Engineers Limited
Registered number:		09813417
Balance Sheet
as at 30 November 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		6,700			13,400
Tangible assets	4		42,333			32,015
			49,033			45,415

Current assets
Stocks		2,500			2,500
Debtors	5	486			2,880
Cash at bank and in hand		8,910			10,151
		11,896			15,531

Creditors: amounts falling due within one year	6	(43,177)			(56,454)

Net current liabilities			(31,281)			(40,923)

Total assets less current liabilities			17,752			4,492


Provisions for liabilities			(3,938)			(3,938)


Net assets			13,814			554

Capital and reserves
Called up share capital			100			100
Profit and loss account			13,714			454

Shareholders' funds			13,814			554

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




W Leat
Director
Approved by the board on 11 September 2025

Fairway Motor Engineers Limited
Notes to the Accounts
for the year ended 30 November 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	15% reducing balance
	Motor vehicles	25% reducing balance
	Computer equipment	33% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			3		5


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 December 2023					67,000
	At 30 November 2024					67,000

	Amortisation
	At 1 December 2023					53,600
	Provided during the year					6,700
	At 30 November 2024					60,300

	Net book value
	At 30 November 2024					6,700
	At 30 November 2023					13,400

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 December 2023	64,081		14,271		78,352
	Additions	19,985		-		19,985
	Disposals	(1,600)		-		(1,600)
	At 30 November 2024	82,466		14,271		96,737

	Depreciation
	At 1 December 2023	34,713		11,624		46,337
	Charge for the year	7,405		662		8,067
	At 30 November 2024	42,118		12,286		54,404

	Net book value
	At 30 November 2024	40,348		1,985		42,333
	At 30 November 2023	29,368		2,647		32,015


5	Debtors			2024		2023
£					£

	Trade debtors			486		1,380
	Other debtors			-		1,500
				486		2,880


6	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			-		(2,025)
	Trade creditors			7,317		7,036
	Taxation and social security costs			9,714		8,352
	Other creditors			26,146		43,091
				43,177		56,454


7	Other information

	Fairway Motor Engineers Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 3-4 Pinewood Business Park
	Blandford Road
	Coombe Bissett
	Salisbury
	SP5 5RF