Abbreviated Company Accounts - FAIRHOME LIMITED

00736829 FAIRHOME LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true 00736829 2013-04-01 2014-03-31 00736829 2014-03-31 00736829 2013-03-31 00736829 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 00736829 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:Director3 2013-04-01 2014-03-31 uk-gaap-cd-bus:Director3 2014-03-31 uk-gaap-cd-bus:Director3 2013-03-31 iso4217:GBP shares

Registered Number 00736829

FAIRHOME LIMITED

Abbreviated Accounts

31 March 2014

FAIRHOME LIMITED Registered Number 00736829

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	1,040	1,467
		1,040	1,467
Current assets
Stocks		1,342,085	1,449,542
Debtors		23,101	30,507
Cash at bank and in hand		55,964	55,986
		1,421,150	1,536,035
Creditors: amounts falling due within one year		(54,560)	(74,405)
Net current assets (liabilities)		1,366,590	1,461,630
Total assets less current liabilities		1,367,630	1,463,097
Creditors: amounts falling due after more than one year		(626,966)	(658,269)
Accruals and deferred income		(142)	(195)
Total net assets (liabilities)		740,522	804,633
Capital and reserves
Called up share capital		14,800	14,800
Other reserves		5,200	5,200
Profit and loss account		720,522	784,633
Shareholders' funds		740,522	804,633

For the year ending 31 March 2014 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 12 December 2014

And signed on their behalf by:
C.J. Short, Director

FAIRHOME LIMITED Registered Number 00736829

Notes to the Abbreviated Accounts for the period ended 31 March 2014

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 April 2008.

Turnover policy
Turnover is the value of properties sol, and profit shares derived from joint venture property development partnership projects, during the period, excluding VAT.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life -
Short leasehold property - straight line over period of lease
Office equipment - 25% reducing balance

2Tangible fixed assets

	£
Cost
At 1 April 2013	42,436
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	42,436
Depreciation
At 1 April 2013	40,969
Charge for the year	427
On disposals	-
At 31 March 2014	41,396
Net book values
At 31 March 2014	1,040
At 31 March 2013	1,467

3Transactions with directors

Name of director receiving advance or credit:	C.J. Short
Description of the transaction:	Director's Loan Account
Balance at 1 April 2013:	£ 15,517
Advances or credits made:	£ 426,400
Advances or credits repaid:	£ 441,788
Balance at 31 March 2014:	£ 129

Dividends were paid to directors during the period as follows:
C.J. Short £435,000 (2013: £100,000)
Mrs S.V. Short £27,464 (2013: £26,264)