Company Registration No. 04988590 (England and Wales)
FAIRBROOK INVESTMENTS LIMITED
Unaudited accounts
for the year ended 30 April 2023
FAIRBROOK INVESTMENTS LIMITED
Unaudited accounts
Contents
FAIRBROOK INVESTMENTS LIMITED
Company Information
for the year ended 30 April 2023
Directors
Ms. Lisa Ann Carson
Mr. Steven Hugh Dennis Carson
Company Number
04988590 (England and Wales)
Registered Office
12E MANOR ROAD
LONDON
N16 5SA
Accountants
Stoke Newington Accountants & Tax Consultants Ltd
4 Baird Road
Enfield
Middlesex
EN1 1SJ
FAIRBROOK INVESTMENTS LIMITED
Statement of financial position
as at 30 April 2023
Tangible assets
4,813,252
4,813,252
Cash at bank and in hand
332,868
383,414
Creditors: amounts falling due within one year
(514,612)
(543,745)
Net current liabilities
(181,744)
(160,331)
Total assets less current liabilities
4,631,508
4,652,921
Creditors: amounts falling due after more than one year
(1,075,695)
(1,086,343)
Net assets
3,555,813
3,566,578
Called up share capital
100
100
Revaluation reserve
3,337,508
3,337,508
Profit and loss account
218,205
228,970
Shareholders' funds
3,555,813
3,566,578
For the year ending 30 April 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 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 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 of Directors and authorised for issue on 29 April 2024 and were signed on its behalf by
Mr. Steven Hugh Dennis Carson
Director
Company Registration No. 04988590
FAIRBROOK INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
FAIRBROOK INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04988590. The registered office is 12E MANOR ROAD, LONDON, N16 5SA.
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:
Plant & machinery
15% Reducing Bal Method
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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research and development is written off in the year in which it is incurred.
FAIRBROOK INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Investments in shares are included at fair value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
At 30 April 2023
4,813,252
At 30 April 2023
4,813,252
At 30 April 2022
4,813,252
FAIRBROOK INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
12,491
10,648
Trade creditors
14,386
1,382
Amounts owed to group undertakings and other participating interests
201,543
217,945
Taxes and social security
17,795
33,776
Other creditors
8,171
13,359
Loans from directors
249,320
248,885
6
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,075,695
1,086,343
7
Transactions with related parties
At the balance sheet date, where the director Mr. Steven Hugh Dennis Carson held controlling interests, the company owed to Fairbrook Projects Limited £184,715 (£185,505 : 2022) and New Master Consulting Ltd £16,827.
At the balance sheet date, where the director held controlling interest, the company owed the director £249,320 (£248,885 : 2022).
The company's ultimate controlling party is Steven Hugh Dennis Carson and Lisa Ann Carson by virtue of his ownership of 100% of the issued share capital in the company
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
