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FAIR CONTRACT ASSOCIATES LIMITED

Registered Number
06762718
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

FAIR CONTRACT ASSOCIATES LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Director | JEAVONS, Paul Richard

Registered Address | 2 Colchester Road
| St. Osyth
| Clacton-On-Sea
| CO16 8HA

Registered Number | 06762718 (England and Wales)

FAIR CONTRACT ASSOCIATES LIMITED
Balance Sheet as at
31 December 2024

| Notes | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 2,028 |  |  |  | 2,704
|  |  |  | 2,028 |  |  |  | 2,704
Current assets |  |  |  |  |  |  |  |
Debtors | 4 | 16,808 |  |  |  | 13,661 |  |
Cash at bank and on hand |  | 11,804 |  |  |  | 42,416 |  |
|  | 28,612 |  |  |  | 56,077 |  |
Creditors amounts falling due within one year | 5 | (26,112) |  |  |  | (23,139) |  |
Net current assets (liabilities) |  |  |  | 2,500 |  |  |  | 32,938
Total assets less current liabilities |  |  |  | 4,528 |  |  |  | 35,642
Net assets |  |  |  | 4,528 |  |  |  | 35,642
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 1 |  |  |  | 1
Profit and loss account |  |  |  | 4,527 |  |  |  | 35,641
Shareholders' funds |  |  |  | 4,528 |  |  |  | 35,642

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
- The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 27 October 2025, and are signed on its behalf by:
JEAVONS, Paul Richard Director Registered Company No. 06762718

FAIR CONTRACT ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Turnover policy
--- | ---
| 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.

| Revenue from rendering of services
--- | ---
| Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

| Current taxation
--- | ---
| Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

| Tangible fixed assets and depreciation
--- | ---
| All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

|  | Straight line (years)
| Plant and machinery | 4

| Stocks and work in progress
--- | ---
| Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

| Related parties
--- | ---
| For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2. | Average number of employees
--- | ---

|  | 2024 |  | 2023
| Average number of employees during the year | 1 |  | 1

3. | Tangible fixed assets
--- | ---

|  | Total
--- | --- | ---
|  | £
| Cost or valuation
| At 01 January 24 | 15,627
| At 31 December 24 | 15,627
| Depreciation and impairment
| At 01 January 24 | 12,923
| Charge for year | 676
| At 31 December 24 | 13,599
| Net book value
| At 31 December 24 | 2,028
| At 31 December 23 | 2,704

4. | Debtors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 15,900 |  | 7,994
| Amounts owed by group undertakings | 150 |  | -
| Other debtors | 758 |  | 4,782
| Prepayments and accrued income | - |  | 885
| Total | 16,808 |  | 13,661

5. | Creditors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 233 |  | 42
| Bank borrowings and overdrafts | 8,837 |  | 3,135
| Taxation and social security | 17,042 |  | 13,752
| Accrued liabilities and deferred income | - |  | 6,210
| Total | 26,112 |  | 23,139

6. | Directors advances, credits and guarantees
--- | ---

|  | Brought forward |  | Amount advanced |  | Amount repaid |  | Carried forward
--- | --- | --- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
| JORDAN, Charles Frederick | 4,782 |  | 77,000 |  | 81,782 |  | 0
|  | 4,782 |  | 77,000 |  | 81,782 |  | 0

| During the year, Mr C F Jordan's director loan account was cleared.

7. | Related party transactions
--- | ---
| During the year, Fair Contracts Associates Ltd paid £150 on behalf of a related company, Fair Contracts Ltd, in respect of accounting fees. The amount remained outstanding at the year-end and is included in debtors as an amount due.

8. | Controlling party
--- | ---
| The company is under the control of Thurwen Ltd.