Fairbid Limited - Limited company - abbreviated - 11.6

Fairbid Limited - Limited company - abbreviated - 11.6

FAIRBID LIMITED - Company Information

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REGISTERED NUMBER: 04396202
















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

FAIRBID LIMITED

FAIRBID LIMITED (REGISTERED NUMBER: 04396202)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the year ended 31 March 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

FAIRBID LIMITED

COMPANY INFORMATION
for the year ended 31 March 2014







DIRECTORS: Mr R A Davis
Mr I Robin





SECRETARY: Mr I Robin





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 04396202





ACCOUNTANTS: Raffingers Stuart
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD
Page 1
FAIRBID LIMITED (REGISTERED NUMBER: 04396202)

ABBREVIATED BALANCE SHEET
31 March 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Investment property 2 2,400,000 2,400,000

CURRENT ASSETS
Debtors 53,975 4,679
Cash at bank 5,706 14,549
59,681 19,228
CREDITORS
Amounts falling due within one year 192,124 245,773
NET CURRENT LIABILITIES (132,443 ) (226,545 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,267,557 2,173,455

CREDITORS
Amounts falling due after more than one year 3 980,000 980,000
NET ASSETS 1,287,557 1,193,455

CAPITAL AND RESERVES
Called up share capital 4 100 100
Revaluation reserve 228,680 228,680
Profit and loss account 1,058,777 964,675
SHAREHOLDERS' FUNDS 1,287,557 1,193,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of
its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 12 December 2014 and were signed on its behalf by:





Mr R A Davis - Director


The notes form part of these abbreviated accounts

Page 2
FAIRBID LIMITED (REGISTERED NUMBER: 04396202)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 31 March 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets and in
accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced rents, excluding value added tax.

Investment property
Investment properties, which comprise properties held for rental, are revalued annually and the aggregate surplus or deficit transferred to
the revaluation reserve except where any deficit is deemed permanent when it is taken to the profit and loss account. No provision is made
for depreciation of investment properties. This departure from the requirements of the Regulations, which require all properties to be
depreciated, is in the opinion of the Directors, necessary for the Financial Statements to show a true and fair view in accordance with
applicable accounting standards. If this departure had not been made, the profit for the financial year would have been reduced by
depreciation. However, the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors
reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2013
and 31 March 2014 2,400,000
NET BOOK VALUE
At 31 March 2014 2,400,000
At 31 March 2013 2,400,000

3. CREDITORS

Creditors include an amount of £ 980,000 (2013 - £ 980,000 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014 2013
£    £   
Repayable by instalments 980,000 980,000

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
100 Ordinary £1 100 100

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