Company Registration No. 07306151 (England and Wales)
FAIRFIELD ELECTRICAL LIMITED
Unaudited accounts
for the year ended 31 July 2023
FAIRFIELD ELECTRICAL LIMITED
Unaudited accounts
Contents
FAIRFIELD ELECTRICAL LIMITED
Company Information
for the year ended 31 July 2023
Director
Andrew Peter MCDONALD
Company Number
07306151 (England and Wales)
Registered Office
63/66 Hatton Garden
Fifth Floor, Suite 23
London
EC1N 8LE
England
Accountants
WNR Associates Limited
63/66 Hatton Garden
Fifth Floor Suite 23
London
EC1N 8LE
FAIRFIELD ELECTRICAL LIMITED
Statement of financial position
as at 31 July 2023
Cash at bank and in hand
10,512
12,165
Creditors: amounts falling due within one year
(13,492)
(9,588)
Net current (liabilities)/assets
(54)
2,577
Called up share capital
100
100
Profit and loss account
242
2,963
Shareholders' funds
342
3,063
For the year ending 31 July 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 April 2024 and were signed on its behalf by
Andrew Peter MCDONALD
Director
Company Registration No. 07306151
FAIRFIELD ELECTRICAL LIMITED
Notes to the Accounts
for the year ended 31 July 2023
FAIRFIELD ELECTRICAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07306151. The registered office is 63/66 Hatton Garden, Fifth Floor, Suite 23 , London, EC1N 8LE , England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing balance
Fixtures & fittings
25% Reducing balance
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 August 2022
2,133
1,218
3,351
At 31 July 2023
2,133
1,218
3,351
At 1 August 2022
1,830
1,035
2,865
Charge for the year
45
45
90
At 31 July 2023
1,875
1,080
2,955
At 31 July 2023
258
138
396
At 31 July 2022
303
183
486
FAIRFIELD ELECTRICAL LIMITED
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
11,992
9,404
Loans from directors
-
184
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Overdrawn director account
(186)
72,600
69,488
2,926
The balance was cleared within nine months of the year end via salary and dividend distributions.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).