Fairmont Estates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04668117 (England and Wales)

Unaudited Financial Statements

for the Period 1st February 2017 to 31st March 2018

for

Fairmont Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

Report of the Accountants

5

DIRECTOR:

A Emery

SECRETARY:

Mrs S A Emery

REGISTERED OFFICE:

Little Birches

Bockleton

Tenbury Wells

WR15 8QA

REGISTERED NUMBER:

04668117 (England and Wales)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Tangible assets

4

3,330

4,060

CURRENT ASSETS

Debtors

5

12,537

17,043

Cash at bank

446

669

12,983

17,712

CREDITORS

Amounts falling due within one year

6

(70,800

)

(95,317

)

NET CURRENT LIABILITIES

(57,817

)

(77,605

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(54,487

)

(73,545

)

CAPITAL AND RESERVES

Called up share capital

5,000

Retained earnings

(59,487

)

(78,545

)

SHAREHOLDERS' FUNDS

(54,487

)

(73,545

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 17th December 2018 and were signed by:

A Emery - Director

1.	STATUTORY INFORMATION

Fairmont Estates Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover represents net invoice sales of property management and consultancy services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are

readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of

business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged

to customers, including any amounts charged on for third parties.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from

suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the

reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an

unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current

liabilities.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are

subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount

due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st February 2017

and 31st March 2018

9,233

DEPRECIATION

At 1st February 2017

5,173

Charge for period

730

At 31st March 2018

5,903

NET BOOK VALUE

At 31st March 2018

3,330

At 31st January 2017

4,060

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade debtors

5,568

Other debtors

6,969

11,475

12,537

17,043

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade creditors

1,379

1,277

Other creditors

69,421

94,040

70,800

95,317

7.	RELATED PARTY DISCLOSURES

At 31st March 2018, the company operated a directors' loan with Mr A Emery. This sum is repayable on demand and no

interest is charged on the sum advanced.

Amount due to A Emery at 31st March 2018 - £67,781 (2017 - £92,640)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not

required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 31st March 2018 set out on pages three to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.