Fairlie Furniture Limited - Filleted accounts

Registered number

SC231761

Fairlie Furniture Limited

Filleted Accounts

31 March 2026

Fairlie Furniture Limited
Registered number:		SC231761
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		94,369			79,371

Current assets
Stocks		24,550			21,795
Debtors	4	-			16,493
Cash at bank and in hand		105,512			70,321
		130,062			108,609

Creditors: amounts falling due within one year	5	(44,938)			(29,188)

Net current assets			85,124			79,421

Total assets less current liabilities			179,493			158,792

Creditors: amounts falling due after more than one year	6		(408)			(5,522)



Net assets			179,085			153,270

Capital and reserves
Called up share capital			9			9
Profit and loss account			179,076			153,261

Shareholders' funds			179,085			153,270

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




K Donaldson
Director
Approved by the board on 14 July 2026

Fairlie Furniture Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			15% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					3		3


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2025	18,186		187,208		86,268		291,662
	Additions	-		32,125		-		32,125
	At 31 March 2026	18,186		219,333		86,268		323,787

	Depreciation
	At 1 April 2025	-		157,334		54,957		212,291
	Charge for the year	-		9,300		7,827		17,127
	At 31 March 2026	-		166,634		62,784		229,418

	Net book value
	At 31 March 2026	18,186		52,699		23,484		94,369
	At 31 March 2025	18,186		29,874		31,311		79,371


4	Debtors					2026		2025
£							£

	Trade debtors					-		15,660
	Other debtors					-		833
						-		16,493


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					4,836		4,836
	Trade creditors					11,415		2,640
	Corporation tax					10,322		3,658
	Other taxes and social security costs					4,415		6,103
	Other creditors					13,950		11,951
						44,938		29,188


6	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					408		5,522


7	Controlling party

	The controlling party is Kenneth Donaldson who owns 100% of the issued share capital of the company.


8	Other information

	Fairlie Furniture Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
	Southannan Estate
	Dalry Moor Road
	FAIRLIE
	KA29 0EQ