Registration number: 11858071

Ffair Limited

(Registration number: 11858071)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	216	-
Tangible assets	5	1,321	925
		1,537	925
Current assets
Debtors	6	45,082	32,533
Cash at bank and in hand		97,582	35,779
		142,664	68,312
Creditors: Amounts falling due within one year	7	(182,915)	(179,219)
Net current liabilities		(40,251)	(110,907)
Net liabilities		(38,714)	(109,982)
Capital and reserves
Called up share capital		9,800	9,600
Share premium reserve		79,200	59,400
Profit and loss account		(127,714)	(178,982)
Shareholders' deficit		(38,714)	(109,982)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 8 December 2025
 

......................................... A N Jones Director

Ffair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY, United Kingdom.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Ffair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 - 2).

Ffair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
Additions acquired separately	216	216
At 31 March 2025	216	216
Amortisation
Carrying amount
At 31 March 2025	216	216

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 April 2024	1,786	1,786
Additions	837	837
At 31 March 2025	2,623	2,623
Depreciation
At 1 April 2024	861	861
Charge for the year	441	441
At 31 March 2025	1,302	1,302
Carrying amount
At 31 March 2025	1,321	1,321
At 31 March 2024	925	925

6

Debtors

	Note	2025 £	2024 £
Trade debtors		36,086	11,493
Amounts owed by related parties		3,062	3,946
Other debtors		-	14,942
Prepayments		5,934	2,152
		45,082	32,533

Ffair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	4,012	13,152
Taxation and social security	26,802	3,452
Accruals and deferred income	8,205	3,973
Other creditors	143,896	158,642
	182,915	179,219

8	Going concern

The financial statements have been prepared on a going concern basis due to the continuing support of the director.