Fairart Limited 30/11/2025 iXBRL

Company registration number: 13377505

Fairart Limited

Unaudited filleted financial statements

30 November 2025

Fairart Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Fairart Limited

Directors and other information


	Directors	Nicolas Addison Kidd
		Francois-Baptiste Costa-Peretti


	Company number	13377505


	Registered office	45 Linden Avenue
		London
		England
		NW10 5RA


	Accountants	BG Partnership
		4th Floor
		58-59 Great Marlborough Street
		London
		W1F 7JY

Fairart Limited

Statement of financial position

30 November 2025

		30/11/25		31/05/24
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		7,646
Investments	6	480		-
		_______		_______
			480		7,646

Current assets
Stocks		139,471		49,056
Debtors	7	125,659		3,952
Cash at bank and in hand		491,257		388,910
		_______		_______
		756,387		441,918
Creditors: amounts falling due
within one year	8	( 225,255)		( 431,413)
		_______		_______
Net current assets			531,132		10,505
			_______		_______
Total assets less current liabilities			531,612		18,151

			_______		_______
Net assets			531,612		18,151
			_______		_______

Capital and reserves
Called up share capital			17,999		15,177
Share premium account			407,116		-
Profit and loss account			106,497		2,974
			_______		_______
Shareholders funds			531,612		18,151
			_______		_______

For the period ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

- The directors acknowledge 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 statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 21 May 2026 , and are signed on behalf of the board by:

Francois-Baptiste Costa-Peretti

Director

Company registration number: 13377505

Fairart Limited

Notes to the financial statements

Period ended 30 November 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 45 Linden Avenue, London, England, NW10 5RA.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Website development	-	33 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 period amounted to 7 (2024: 4 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 June 2024 and 30 November 2025	22,488	22,488
	_______	_______
Amortisation
At 1 June 2024	14,842	14,842
Charge for the period	7,646	7,646
	_______	_______
At 30 November 2025	22,488	22,488
	_______	_______
Carrying amount
At 30 November 2025	-	-
	_______	_______
At 31 May 2024	7,646	7,646
	_______	_______

6. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 June 2024	-	-
Additions	480	480
	_______	_______
At 30 November 2025	480	480
	_______	_______
Impairment
At 1 June 2024 and 30 November 2025	-	-
	_______	_______
Carrying amount
At 30 November 2025	480	480
	_______	_______
At 31 May 2024	-	-
	_______	_______

7. Debtors

	30/11/25	31/05/24
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	122,671	-
Other debtors	2,988	3,952
	_______	_______
	125,659	3,952
	_______	_______

8. Creditors: amounts falling due within one year

	30/11/25	31/05/24
	£	£
Corporation tax	34,543	830
Social security and other taxes	6,233	864
Other creditors	184,479	429,719
	_______	_______
	225,255	431,413
	_______	_______