REGISTERED NUMBER: 02347135 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2024

for

FAYS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr I A Seedat

Mrs F I Seedat

REGISTERED OFFICE:

406 East Park Road

Leicester

Leicestershire

LE5 5HH

REGISTERED NUMBER:

02347135 (England and Wales)

ACCOUNTANTS:

TC Group

31 High View Close

Hamilton Office Park

Leicester

Leicestershire

LE4 9LJ

CURRENT ASSETS

Debtors

5

273,978

245,007

Cash at bank and in hand

27,169

52,342

301,147

297,349

CREDITORS

Amounts falling due within one year

6

62,885

61,107

NET CURRENT ASSETS

238,262

236,242

TOTAL ASSETS LESS CURRENT LIABILITIES

238,262

236,242

CREDITORS

Amounts falling due after more than one year

7

7,161

7,161

NET ASSETS

231,101

229,081

CAPITAL AND RESERVES

Called up share capital

150,000

150,000

Retained earnings

81,101

79,081

231,101

229,081

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 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 30 September 2025 and were signed on its behalf by:

Mr I A Seedat - Director

1.	STATUTORY INFORMATION

Fays 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

280,088

PROVISIONS

At 1 January 2024

and 31 December 2024

280,088

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Midland Wholesalers Limited

Registered office: 406 East Park Road, Leicester LE5 5HH

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

29,919

21,991

Other debtors

3,570

2,885

33,489

24,876

Amounts falling due after more than one year:

Other debtors

240,489

220,131

Aggregate amounts

273,978

245,007

Other debtors falling due after more than one year are intercompany loans which are charged a commercial rate of interest, no specific date for recall has been set.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,125

2,013

Taxation and social security

1,539

2,124

Other creditors

59,221

56,970

62,885

61,107

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

7,161

7,161

8.	RELATED PARTY DISCLOSURES

Other creditors include a directors loan of £59,221 (2023 £56,969). The loan is repayable on demand and no interest is charged on the loan.Creditors also includes an amount of £7,161 (2023 £7,161) due to a related company who deferred repayment for a period of at least 12 months from the date of signing the balance sheet.