Abbreviated Company Accounts - FAIRMILE HOMES LIMITED

ICKLINGHAM ROAD (COBHAM) LTD - Company Information

07994238 FAIRMILE HOMES LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 07994238 2015-04-01 2016-03-31 07994238 2016-03-31 07994238 2015-03-31 07994238 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 07994238 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-03-31 iso4217:GBP shares

Registered Number 07994238

FAIRMILE HOMES LIMITED

Abbreviated Accounts

31 March 2016

FAIRMILE HOMES LIMITED Registered Number 07994238

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	86,586	125,289
Investments	3	622,595	622,595
		709,181	747,884
Current assets
Stocks		107,199	494,866
Debtors	4	989,932	138,920
Investments		-	-
Cash at bank and in hand		579	2,468
		1,097,710	636,254
Creditors: amounts falling due within one year		(1,098,585)	(603,572)
Net current assets (liabilities)		(875)	32,682
Total assets less current liabilities		708,306	780,566
Creditors: amounts falling due after more than one year		(645,004)	(579,614)
Provisions for liabilities		(1,123)	(7,488)
Total net assets (liabilities)		62,179	193,464
Capital and reserves
Called up share capital	5	100	100
Profit and loss account		62,079	193,364
Shareholders' funds		62,179	193,464

For the year ending 31 March 2016 the company was entitled to exemption 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.

Approved by the Board on 4 August 2016

And signed on their behalf by:
Matthew Estwick, Director

FAIRMILE HOMES LIMITED Registered Number 07994238

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 33.33% straight line
Motor vehicles 33.33% straight line

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value.

Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet 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 the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2Tangible fixed assets

	£
Cost
At 1 April 2015	165,517
Additions	7,836
Disposals	(31,336)
Revaluations	-
Transfers	-
At 31 March 2016	142,017
Depreciation
At 1 April 2015	40,228
Charge for the year	31,539
On disposals	(16,336)
At 31 March 2016	55,431
Net book values
At 31 March 2016	86,586
At 31 March 2015	125,289

3Fixed assets Investments
Investment in joint venture (Fairmile Homes One Ltd).

4Debtors

	2016 £	2015 £
Debtors include the following amounts due after more than one year	989,932	138,920

5Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
0 Ordinary shares of £1 each (100 shares for 2015)	0	100
1,000,000 Ordinary shares of £0.0001 each (0 shares for 2015)	100	0

During the year, the existing shares were sub-divided.