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REGISTERED NUMBER: NI679352 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Fairco Trade Frames Limited

Fairco Trade Frames Limited (Registered number: NI679352)

Contents of the Financial Statements

for the Year Ended 31 January 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

Fairco Trade Frames Limited

Company Information

for the Year Ended 31 January 2025

| DIRECTOR: | J Toal

| REGISTERED OFFICE: | Unit 2 Kilroot Business Park

| Carrickfergus

| Co. Antrim

| BT38 7PR

| REGISTERED NUMBER: | NI679352 (Northern Ireland)

| ACCOUNTANTS: | Toman Accountancy Services Ltd

| Unit HF 9, Twin Spires Complex

| Howard Buildings

| 155 Northumberland Street

| Belfast

| Antrim

| BT13 2JF

Fairco Trade Frames Limited (Registered number: NI679352)

Statement of Financial Position

31 January 2025

| 31.1.25 | 31.1.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 323,542 |  | 375,943 |  |

CURRENT ASSETS

Stocks | 102,638 |  | 102,073 |  |

Debtors | 5 | 154,537 |  | 85,977 |  |

Cash at bank and in hand | 9,998 |  | 6,132 |  |

267,173 |  | 194,182 |  |

CREDITORS

Amounts falling due within one year | 6 | 263,513 |  | 178,082 |  |

NET CURRENT ASSETS | 3,660 |  | 16,100 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 327,202 |  | 392,043 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (989,551 | ) | (1,054,735 | ) |

PROVISIONS FOR LIABILITIES | (87,015 | ) | (96,733 | ) |

NET LIABILITIES | (749,364 | ) | (759,425 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | (749,464 | ) | (759,525 | ) |

SHAREHOLDERS' FUNDS | (749,364 | ) | (759,425 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

Fairco Trade Frames Limited (Registered number: NI679352)

Statement of Financial Position - continued

31 January 2025

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 and authorised for issue by the director and authorised for issue on 27 January 2026 and were signed by:

J Toal - Director

Fairco Trade Frames Limited (Registered number: NI679352)

Notes to the Financial Statements

for the Year Ended 31 January 2025

1. | STATUTORY INFORMATION

| Fairco Trade Frames Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Significant judgements and estimates

| In preparing these financial statements the director has made the following judgements:

| Consider the recoverability of trade debtors and work in progress and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

| Consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

| 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.

| Long leasehold | - | 10% on cost

| Plant and machinery | - | 25% on cost

| Fixtures and fittings | - | 25% on cost

| Computer equipment | - | 25% on cost

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Fairco Trade Frames Limited (Registered number: NI679352)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| All financial statements of the company are considered to meet the definition of basic financial instruments.

| -Short term debtors and creditors

| Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

| -Cash and cash equivalents

| Cash and cash equivalents comprise cash at bank and in hand

| Loans and borrowings

| All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issues costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowing are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| 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.

| Holiday pay accrual

| A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and is available to carry forward to future periods. This is measured at the un-discounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 13 (2024 - 12 ) .

Fairco Trade Frames Limited (Registered number: NI679352)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Long |  | Plant and |  | and |  | Computer |

| leasehold |  | machinery |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 February 2024 |

| and 31 January 2025 | 12,547 |  | 460,715 |  | 8,993 |  | 11,303 |  | 493,558 |  |

| DEPRECIATION

| At 1 February 2024 | 2,928 |  | 106,507 |  | 2,422 |  | 5,758 |  | 117,615 |  |

| Charge for year | 1,254 |  | 46,072 |  | 2,249 |  | 2,826 |  | 52,401 |  |

| At 31 January 2025 | 4,182 |  | 152,579 |  | 4,671 |  | 8,584 |  | 170,016 |  |

| NET BOOK VALUE

| At 31 January 2025 | 8,365 |  | 308,136 |  | 4,322 |  | 2,719 |  | 323,542 |  |

| At 31 January 2024 | 9,619 |  | 354,208 |  | 6,571 |  | 5,545 |  | 375,943 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.1.25 |  | 31.1.24

£ | £ |

| Trade debtors | 126,462 |  | 34,020 |  |

| Other debtors | 28,075 |  | 51,957 |  |

154,537 |  | 85,977 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.1.25 |  | 31.1.24

£ | £ |

| Bank loans and overdrafts | - |  | 24 |  |

| Hire purchase contracts | 60,834 |  | 60,834 |  |

| Trade creditors | 183,726 |  | 72,453 |  |

| Taxation and social security | 7,338 |  | 29,712 |  |

| Other creditors | 11,615 |  | 15,059 |  |

263,513 |  | 178,082 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.1.25 |  | 31.1.24

£ | £ |

| Hire purchase contracts | 106,458 |  | 167,292 |  |

| Other creditors | 883,093 |  | 887,443 |  |

989,551 |  | 1,054,735 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Other loans more 5yrs non-inst | 424,961 |  | 424,961 |  |

Fairco Trade Frames Limited (Registered number: NI679352)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

8. | OTHER FINANCIAL COMMITMENTS

| Long term loan - £424.9k (included in creditors falling due after more than one year)

| Repayments of the long term will not begin until profits are achieved.

9. | RELATED PARTY DISCLOSURES

| James Toal is also a director in Emptor Holdings Limited, a limited company registered in ROI.

| Emptor Holdings Limited owns 100% of the shareholding in Fairco Trade Frames Limited, to which 70% (£297k) of the long term loan is indebted to. The remaining (£127.9k) 30% of the long term loan is indebted to BLD Consulting Limited.

| James Toal is also a director of Fairco Ltd, a limited company registered in ROI. Fairco Ltd are owed the sum of £458.1k which is included in other creditors.

10. | GOING CONCERN

| The company meets it's day to day working capital requirements through the continuing support of the company directors and other creditors. The directors have indicated that this arrangement will continue for at least twelve months and as such, the directors consider it appropriate to prepare financial statements on the going concern basis. Financial statements do not include any adjustments that would result from a withdrawal of the support outlined.