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Company registration number: SC497690
George Fair Joiners & Contractors Limited
Unaudited filleted abridged financial statements
29 February 2024
George Fair Joiners & Contractors Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
George Fair Joiners & Contractors Limited
Directors and other information

| Director | Ryan Fair
| Company number | SC497690
| Registered office | 18 North Street
|  | Glenrothes
|  | Fife
|  | KY7 5NA
| Accountants | Paterson Boyd & Co
|  | Chartered Certified Accountants
|  | 18 North Street
|  | Glenrothes
|  | Fife
|  | KY7 5NA

| Bankers | Royal Bank of Scotland
|  | 3 Falkland Gate
|  | Glenrothes
|  | Fife
|  | KY7 5NS

George Fair Joiners & Contractors Limited
Report to the director on the preparation of the
unaudited statutory financial statements of George Fair Joiners & Contractors Limited
Year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of George Fair Joiners & Contractors Limited for the year ended 29 February 2024 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the director of George Fair Joiners & Contractors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of George Fair Joiners & Contractors Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than George Fair Joiners & Contractors Limited and its director as a body for our work or for this report.
It is your duty to ensure that George Fair Joiners & Contractors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of George Fair Joiners & Contractors Limited. You consider that George Fair Joiners & Contractors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of George Fair Joiners & Contractors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Paterson Boyd & Co
Chartered Certified Accountants
18 North Street
Glenrothes
Fife
KY7 5NA
23 March 2026
George Fair Joiners & Contractors Limited
Abridged statement of financial position
29 February 2024

|  |  | 2024 |  |  |  | 2023 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Tangible assets |  | 6 | 99,390 |  |  |  | 73,586 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 99,390 |  |  |  | 73,586
Current assets |  |  |  |  |  |  |  |  |
Stocks |  |  | 300,000 |  |  |  | 220,000 |  |
Debtors |  |  | 126,868 |  |  |  | 161,884 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 426,868 |  |  |  | 381,884 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  |  | ( 362,215) |  |  |  | ( 240,645) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets |  |  |  |  | 64,653 |  |  |  | 141,239
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 164,043 |  |  |  | 214,825
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
after more than one year |  |  |  |  | ( 116,490) |  |  |  | ( 97,049)
Provisions for liabilities |  |  |  |  | ( 6,928) |  |  |  | ( 11,404)
|  |  |  |  | _______ |  |  |  | _______
Net assets |  |  |  |  | 40,625 |  |  |  | 106,372
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  | 7 |  |  | 100 |  |  |  | 100
Profit and loss account |  |  |  |  | 40,525 |  |  |  | 106,272
|  |  |  |  | _______ |  |  |  | _______
Shareholder funds |  |  |  |  | 40,625 |  |  |  | 106,372
|  |  |  |  | _______ |  |  |  | _______

For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 23 March 2026 , and are signed on behalf of the board by:
Ryan Fair
Director
Company registration number: SC497690
George Fair Joiners & Contractors Limited
Notes to the financial statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 18 North Street, Glenrothes, Fife, KY7 5NA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Motor vehicles | - | 25 % | reducing balance
| Computer equipment | - | 33 % | reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Directors remuneration
The director's aggregate remuneration in respect of qualifying services was:

|  |  | 2024 | 2023
|  |  | £ | £
| Remuneration |  | 9,096 | 9,075
|  |  | _______ | _______

6. Tangible assets

|  | £ |  |  |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 March 2023 | 139,660 |  |  |  |  |  |
| Additions | 59,020 |  |  |  |  |  |
|  | _______ |  |  |  |  |  |
| At 29 February 2024 | 198,680 |  |  |  |  |  |
|  | _______ |  |  |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 March 2023 | 66,074 |  |  |  |  |  |
| Charge for the year | 33,216 |  |  |  |  |  |
|  | _______ |  |  |  |  |  |
| At 29 February 2024 | 99,290 |  |  |  |  |  |
|  | _______ |  |  |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 29 February 2024 | 99,390 |  |  |  |  |  |
|  | _______ |  |  |  |  |  |
| At 28 February 2023 | 73,586 |  |  |  |  |  |
|  | _______ |  |  |  |  |  |

7. Called up share capital
Issued, called up and fully paid

|  |  | 2024 |  |  |  | 2023 |  |
|  |  | No |  | £ |  | No |  | £
| Ordinary shares of £ 1.00 each |  | 100 |  | 100 |  | 100 |  | 100
|  |  | _______ |  | _______ |  | _______ |  | _______

8. Directors advances, credits and guarantees

| During the year the director entered into the following advances and credits with the company: |  |  |  |  |  |
2024 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing |  |
|  | £ | £ | £ | £ |  |
| Ryan Fair | 45,846 | ( 222,434) | 242,972 | 66,384 |  |
|  | _______ | _______ | _______ | _______ |  |
2023 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing |  |
|  | £ | £ | £ | £ |  |
| Ryan Fair | 126,825 | ( 702,817) | 621,838 | 45,846 |  |
|  | _______ | _______ | _______ | _______ |  |