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Registered number: 07175031
Fairlight Coachworks Limited
Unaudited Financial Statements
For The Year Ended 31 March 2026
Tasker Osman & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07175031
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 56,710 10,441
56,710 10,441
CURRENT ASSETS
Stocks 5 24,480 22,660
Debtors 6 280,374 262,226
Cash at bank and in hand 205,791 222,034
510,645 506,920
Creditors: Amounts Falling Due Within One Year 7 (242,372 ) (234,753 )
NET CURRENT ASSETS (LIABILITIES) 268,273 272,167
TOTAL ASSETS LESS CURRENT LIABILITIES 324,983 282,608
Creditors: Amounts Falling Due After More Than One Year 8 (57,667 ) (40,770 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,693 ) (4,693 )
NET ASSETS 262,623 237,145
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 262,523 237,045
SHAREHOLDERS' FUNDS 262,623 237,145
Page 1
Page 2
For the year ending 31 March 2026 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Scott Burns
Director
Mrs Clare Burns
Director
30/06/2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fairlight Coachworks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07175031 . The registered office is Office 4, Cavendish House, New Road, Newhaven, East Sussex, BN9 0EH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery accumulated 25%
Motor Vehicles accumulated 25%
Fixtures & Fittings accumulated 25%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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Page 4
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2025: 12)
12 12
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2025 172,781 23,726 3,549 200,056
Additions - 42,990 - 42,990
As at 31 March 2026 172,781 66,716 3,549 243,046
Depreciation
As at 1 April 2025 149,667 36,678 3,270 189,615
Provided during the period 5,778 5,373 70 11,221
Disposals - (14,500 ) - (14,500 )
As at 31 March 2026 155,445 27,551 3,340 186,336
Net Book Value
As at 31 March 2026 17,336 39,165 209 56,710
As at 1 April 2025 23,114 (12,952 ) 279 10,441
5. Stocks
2026 2025
£ £
Stock 24,480 22,660
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Page 5
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 271,036 189,928
Prepayments and accrued income 9,338 9,338
Other debtors - 62,960
280,374 262,226
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 67,291 76,843
Corporation tax 45,822 44,220
Other taxes and social security 7,142 6,765
VAT 56,835 43,005
Other creditors 3,280 2,252
Credit Cards 35,364 21,568
Loans 19,300 38,600
Accruals and deferred income 1,500 1,500
Directors' loan accounts 5,838 -
242,372 234,753
8. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 57,667 40,770
9. Obligations Under Finance Leases and Hire Purchase
2026 2025
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 57,667 40,770
10. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 100 100
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