Fairbrook Investments Limited
Fairbrook Investments Limited
Registered number: 04988590
Unaudited Financial Statements
For The Year Ended
30 April 2020
Brian G Lonis and Co Ltd
Accountants and Business Consultants
12e Manor Road
London
N16 5SA
Fairbrook Investments Limited
Unaudited Financial Statements
For The Year Ended
30 April 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—6 |
Fairbrook Investments Limited
Balance Sheet
As at
30 April 2020
Balance Sheet
Registered number:
04988590
For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Revaluation reserve | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 3,175,582 | 3,149,070 | |||
Page 1
Fairbrook Investments Limited
Balance Sheet (continued)
As at
30 April 2020
Directors' responsibilities:
-
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
|
Director
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The notes on pages 4 to 6 form part of these financial statements.
Page 2
Fairbrook Investments Limited
Statement of Changes in Equity
For The Year Ended
30 April 2020
Statement of Changes in Equity
| Share Capital | Revaluation reserve | Profit and Loss Account | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| As at 1 May 2018 |
|
|
|
3,159,283 |
| Profit for the year and total comprehensive income | - | - |
|
9,787 |
| Dividends paid | - | - | (20,000) | (20,000) |
| As at 30 April 2019 and 1 May 2019 |
|
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|
3,149,070 |
| Profit for the year and total comprehensive income | - | - |
|
26,512 |
| As at
|
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|
3,175,582 |
Page 3
Fairbrook Investments Limited
Notes to the Financial Statements
For The Year Ended
30 April 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable.
1.3.
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:
| Freehold |
|
1.4.
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.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2020 | 2019 | ||
|---|---|---|---|
| Office and administration |
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Page 4
Fairbrook Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2020
3.
Tangible Assets
| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| Cost | |
| As at
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| As at
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| Net Book Value | |
| As at
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| As at
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The analysis of the cost or valuation of the above assets is as follows:
| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| As at
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| At cost | 4,013,252 |
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| As at
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| At cost | 4,013,252 |
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4.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors |
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Page 5
Fairbrook Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2020
5.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to other participating interests | 241,533 | 303,987 | |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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8.
Reserves
| Revaluation Reserve | |
|---|---|
| £ | |
| As at
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| As at
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9.
Related Party Transactions
At the balance sheet date where the directors had controlling interests, the company owed Fairbrook Projects Ltd £241,533.
10.
Ultimate Controlling Party
The company's ultimate controlling party is Mr and Mrs Carson by virtue of their ownership of 100% of the issued share capital in the company.
11.
General Information
Fairbrook Investments Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04988590
. The registered office is 12e Manor Road, London, N16 5SA.
Page 6