FAIRHAVEN MANAGEMENT LIMITED

FAIRHAVEN MANAGEMENT LIMITED - Company Information

2022-04-012023-03-312023-03-31false01519470FAIRHAVEN MANAGEMENT LIMITED2023-11-30iso4217:GBPxbrli:pure015194702022-04-01015194702023-03-31015194702022-04-012023-03-31015194702021-04-01015194702022-03-31015194702021-04-012022-03-3101519470bus:SmallEntities2022-04-012023-03-3101519470bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3101519470bus:FullAccounts2022-04-012023-03-3101519470bus:PrivateLimitedCompanyLtd2022-04-012023-03-3101519470core:WithinOneYear2023-03-3101519470core:AfterOneYear2023-03-3101519470core:WithinOneYear2022-03-3101519470core:AfterOneYear2022-03-3101519470core:ShareCapital2023-03-3101519470core:SharePremium2023-03-3101519470core:RevaluationReserve2023-03-3101519470core:OtherReservesSubtotal2023-03-3101519470core:RetainedEarningsAccumulatedLosses2023-03-3101519470core:ShareCapital2022-03-3101519470core:SharePremium2022-03-3101519470core:RevaluationReserve2022-03-3101519470core:OtherReservesSubtotal2022-03-3101519470core:RetainedEarningsAccumulatedLosses2022-03-3101519470core:LandBuildings2023-03-3101519470core:PlantMachinery2023-03-3101519470core:Vehicles2023-03-3101519470core:FurnitureFittings2023-03-3101519470core:OfficeEquipment2023-03-3101519470core:NetGoodwill2023-03-3101519470core:IntangibleAssetsOtherThanGoodwill2023-03-3101519470core:ListedExchangeTraded2023-03-3101519470core:UnlistedNon-exchangeTraded2023-03-3101519470core:LandBuildings2022-03-3101519470core:PlantMachinery2022-03-3101519470core:Vehicles2022-03-3101519470core:FurnitureFittings2022-03-3101519470core:OfficeEquipment2022-03-3101519470core:NetGoodwill2022-03-3101519470core:IntangibleAssetsOtherThanGoodwill2022-03-3101519470core:ListedExchangeTraded2022-03-3101519470core:UnlistedNon-exchangeTraded2022-03-3101519470core:LandBuildings2022-04-012023-03-3101519470core:PlantMachinery2022-04-012023-03-3101519470core:Vehicles2022-04-012023-03-3101519470core:FurnitureFittings2022-04-012023-03-3101519470core:OfficeEquipment2022-04-012023-03-3101519470core:NetGoodwill2022-04-012023-03-3101519470core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3101519470core:ListedExchangeTraded2022-04-012023-03-3101519470core:UnlistedNon-exchangeTraded2022-04-012023-03-3101519470core:MoreThanFiveYears2022-04-012023-03-3101519470core:Non-currentFinancialInstruments2023-03-3101519470core:Non-currentFinancialInstruments2022-03-3101519470dpl:CostSales2022-04-012023-03-3101519470dpl:DistributionCosts2022-04-012023-03-3101519470core:LandBuildings2022-04-012023-03-3101519470core:PlantMachinery2022-04-012023-03-3101519470core:Vehicles2022-04-012023-03-3101519470core:FurnitureFittings2022-04-012023-03-3101519470core:OfficeEquipment2022-04-012023-03-3101519470dpl:AdministrativeExpenses2022-04-012023-03-3101519470core:NetGoodwill2022-04-012023-03-3101519470core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3101519470dpl:GroupUndertakings2022-04-012023-03-3101519470dpl:ParticipatingInterests2022-04-012023-03-3101519470dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3101519470core:ListedExchangeTraded2022-04-012023-03-3101519470dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3101519470core:UnlistedNon-exchangeTraded2022-04-012023-03-3101519470dpl:CostSales2021-04-012022-03-3101519470dpl:DistributionCosts2021-04-012022-03-3101519470core:LandBuildings2021-04-012022-03-3101519470core:PlantMachinery2021-04-012022-03-3101519470core:Vehicles2021-04-012022-03-3101519470core:FurnitureFittings2021-04-012022-03-3101519470core:OfficeEquipment2021-04-012022-03-3101519470dpl:AdministrativeExpenses2021-04-012022-03-3101519470core:NetGoodwill2021-04-012022-03-3101519470core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3101519470dpl:GroupUndertakings2021-04-012022-03-3101519470dpl:ParticipatingInterests2021-04-012022-03-3101519470dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3101519470core:ListedExchangeTraded2021-04-012022-03-3101519470dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3101519470core:UnlistedNon-exchangeTraded2021-04-012022-03-3101519470core:NetGoodwill2023-03-3101519470core:IntangibleAssetsOtherThanGoodwill2023-03-3101519470core:LandBuildings2023-03-3101519470core:PlantMachinery2023-03-3101519470core:Vehicles2023-03-3101519470core:FurnitureFittings2023-03-3101519470core:OfficeEquipment2023-03-3101519470core:AfterOneYear2023-03-3101519470core:WithinOneYear2023-03-3101519470core:ListedExchangeTraded2023-03-3101519470core:UnlistedNon-exchangeTraded2023-03-3101519470core:ShareCapital2023-03-3101519470core:SharePremium2023-03-3101519470core:RevaluationReserve2023-03-3101519470core:OtherReservesSubtotal2023-03-3101519470core:RetainedEarningsAccumulatedLosses2023-03-3101519470core:NetGoodwill2022-03-3101519470core:IntangibleAssetsOtherThanGoodwill2022-03-3101519470core:LandBuildings2022-03-3101519470core:PlantMachinery2022-03-3101519470core:Vehicles2022-03-3101519470core:FurnitureFittings2022-03-3101519470core:OfficeEquipment2022-03-3101519470core:AfterOneYear2022-03-3101519470core:WithinOneYear2022-03-3101519470core:ListedExchangeTraded2022-03-3101519470core:UnlistedNon-exchangeTraded2022-03-3101519470core:ShareCapital2022-03-3101519470core:SharePremium2022-03-3101519470core:RevaluationReserve2022-03-3101519470core:OtherReservesSubtotal2022-03-3101519470core:RetainedEarningsAccumulatedLosses2022-03-3101519470core:NetGoodwill2021-04-0101519470core:IntangibleAssetsOtherThanGoodwill2021-04-0101519470core:LandBuildings2021-04-0101519470core:PlantMachinery2021-04-0101519470core:Vehicles2021-04-0101519470core:FurnitureFittings2021-04-0101519470core:OfficeEquipment2021-04-0101519470core:AfterOneYear2021-04-0101519470core:WithinOneYear2021-04-0101519470core:ListedExchangeTraded2021-04-0101519470core:UnlistedNon-exchangeTraded2021-04-0101519470core:ShareCapital2021-04-0101519470core:SharePremium2021-04-0101519470core:RevaluationReserve2021-04-0101519470core:OtherReservesSubtotal2021-04-0101519470core:RetainedEarningsAccumulatedLosses2021-04-0101519470core:AfterOneYear2022-04-012023-03-3101519470core:WithinOneYear2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:CostValuation2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3101519470core:Non-currentFinancialInstrumentscore:CostValuation2023-03-3101519470core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-3101519470core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-3101519470core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-3101519470core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3101519470core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-3101519470core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-3101519470core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-3101519470core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-3101519470core:Non-currentFinancialInstrumentscore:CostValuation2022-03-3101519470core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-03-3101519470core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-03-3101519470core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-03-3101519470core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-03-3101519470core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-03-3101519470core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-03-3101519470core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-03-3101519470core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-03-3101519470bus:Director12022-04-012023-03-3101519470bus:Director22022-04-012023-03-3101519470bus:Director32022-04-012023-03-3101519470bus:Director42022-04-012023-03-31

Registered Number
01519470
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

FAIRHAVEN MANAGEMENT LIMITED

Company Information
for the year from 1 April 2022 to 31 March 2023


Directors	HEWITSON, John Reid
	LAW, Damian Stephen
	NORTHING, Valerie Mary
	SMART, Marian Eloise


Registered Address	Third Floor
	10 South Parade
	Leeds
	LS1 5QS


Place of Business	3 Fairhaven
	Main Road
	Windermere
	LA23 1DX


Registered Number	01519470 (England and Wales)

FAIRHAVEN MANAGEMENT LIMITED

Balance Sheet as at
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	6		368		368
			368		368
Current assets
Cash at bank and on hand		34,209		36,990
		34,209		36,990
Creditors amounts falling due within one year	7	(773)		(709)
Net current assets (liabilities)			33,436		36,281
Total assets less current liabilities			33,804		36,649
Net assets			33,804		36,649
Capital and reserves
Called up share capital			490		490
Share premium			270		270
Other reserves			33,044		35,889
Shareholders' funds			33,804		36,649

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 30 November 2023, and are signed on its behalf by:

HEWITSON, John Reid
Director
Registered Company No. 01519470

FAIRHAVEN MANAGEMENT LIMITED

Notes to the Financial Statements
for the year ended 31 March 2023

1.	Statutory information
	Fairhaven Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Third Floor, 10 South Parade, Leeds, West Yorkshire, LS1 5QS.

2.	Compliance with applicable reporting framework
	These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Compliance with applicable reporting framework

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

3.	Principal activities
	The company's principal activity during the year continued to be to hold the deeds of Fairhaven, Main Road, Windermere for the benefit of the members and to attend the management and administration of the estate. All transactions in the year are related to the maintenance of the common parts in accordance with the leases. Service charges are collected on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987. The sinking fund represents the excess of maintenance charges raised over the costs incurred, and this surplus will be taken into account when determining future contributions to be collected from members. During the year the company has not traded. It continues to defray expenditure for the maintenance of Fairhaven and to collect contributions from the leaseholders.

Principal activities

The company's principal activity during the year continued to be to hold the deeds of Fairhaven, Main Road, Windermere for the benefit of the members and to attend the management and administration of the estate. All transactions in the year are related to the maintenance of the common parts in accordance with the leases. 

Service charges are collected on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987. 

The sinking fund represents the excess of maintenance charges raised over the costs incurred, and this surplus will be taken into account when determining future contributions to be collected from members. During the year the company has not traded. It continues to defray expenditure for the maintenance of Fairhaven and to collect contributions from the leaseholders.

4.	Accounting policies

	Turnover policy
	Turnover represents the value of service charges and ground rents payable by tenants.

	Property, plant and equipment policy
	Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. No depreciation has been applied to freehold land and buildings since in the opinion of the directors the anticipated residual value exceeds the book value at the date of the balance sheet. This policy is not in accordance with the provisions FRS102, but the financial effects of non-compliance are not considered material. Depreciation is provided on all tangible fixed assets as follows: Land and Buildings Freehold Nil

Property, plant and equipment policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

No depreciation has been applied to freehold land and buildings since in the opinion of the directors the anticipated residual value exceeds the book value at the date of the balance sheet. This policy is not in accordance with the provisions FRS102, but the financial effects of non-compliance are not considered material.

Depreciation is provided on all tangible fixed assets as follows:

Land and Buildings Freehold                                                      Nil

5.	Employee information
	The average monthly number of persons (including directors) employed by the company during the year was:


		2023		2022
	Average number of employees during the year	4		4

6.	Property, plant and equipment

	Land & buildings	Total
	£	£
Cost or valuation
At 01 April 22	368	368
At 31 March 23	368	368
Net book value
At 31 March 23	368	368
At 31 March 22	368	368


	The market value of the reversionary interest in the freehold land and buildings disclosed in the accounts at a cost of £368 is considered by the directors to be not materially in excess of cost.

7.	Creditors within one year

	2023	2022
	£	£
Accrued liabilities and deferred income	773	709
Total	773	709