Company Registration No. 10511398 (England and Wales)
Fair IT Ltd
Unaudited accounts
for the year ended 31 March 2019
Fair IT Ltd
Unaudited accounts
Contents
Fair IT Ltd
Company Information
for the year ended 31 March 2019
Director
Raja Sekhar Kalyanapu
Company Number
10511398 (England and Wales)
Registered Office
164 New Cavendish Street
London
W1W 6YT
England
Fair IT Ltd
Statement of financial position
as at
31 March 2019
Tangible assets
7,617
6,682
Cash at bank and in hand
110,906
89,019
Creditors: amounts falling due within one year
(26,050)
(45,755)
Net current assets
87,565
43,681
Called up share capital
1
1
Profit and loss account
95,181
50,362
Shareholders' funds
95,182
50,363
For the year ending 31 March 2019 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.
Approved by the Board on 23 December 2019.
Raja Sekhar Kalyanapu
Director
Company Registration No. 10511398
Fair IT Ltd
Notes to the Accounts
for the year ended 31 March 2019
Fair IT Ltd is a private company, limited by shares, registered in England and Wales, registration number 10511398. The registered office is 164 New Cavendish Street, London, W1W 6YT, 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.
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:
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2018
7,950
429
8,379
At 31 March 2019
7,950
3,938
11,888
At 1 April 2018
1,590
107
1,697
Charge for the year
1,590
984
2,574
At 31 March 2019
3,180
1,091
4,271
At 31 March 2019
4,770
2,847
7,617
At 31 March 2018
6,360
322
6,682
Accrued income and prepayments
783
417
Fair IT Ltd
Notes to the Accounts
for the year ended 31 March 2019
6
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
25,350
26,156
Loans from directors
700
19,599
7
Transactions with related parties
R S Kalyanapu
Included in other creditors is an amount of £700 (2018: £19,599) owed by the company to Mr R S Kalyanapu, a sole director and 100% shareholder of the company.
During the period interim dividends of £34,500 were paid to the director.
8
Average number of employees
During the year the average number of employees was 1 (2018: 1).