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REGISTERED NUMBER: 01052033 (England and Wales)














FAIRWAYS OWNERS LTD.

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






FAIRWAYS OWNERS LTD. (REGISTERED NUMBER: 01052033)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAIRWAYS OWNERS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: M. Rayner
N. Da Rold
J.A. Afriyie
T.L. Long
A.J. Davies



SECRETARY: M. Rayner



REGISTERED OFFICE: 1, Fairways,
Shernhall Street,
Walthamstow,
London,
E17 9JB



REGISTERED NUMBER: 01052033 (England and Wales)



ACCOUNTANTS: Cobbin Floyd Ltd
t/a Findlay Wetherfield Scott & Co.,
Chartered Accountants
137, Station Road,
Chingford,
London
E4 6AG



BANKERS: Lloyds Bank plc.,
182, High Street,
Walthamstow,
London,
E17 7JH

FAIRWAYS OWNERS LTD. (REGISTERED NUMBER: 01052033)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,563 9,563

CURRENT ASSETS
Debtors 5 3,602 3,082
Cash at bank 18,385 12,483
21,987 15,565
CREDITORS
Amounts falling due within one year 6 21,914 15,492
NET CURRENT ASSETS 73 73
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,636

9,636

CREDITORS
Amounts falling due after more than one year 7 9,636 9,636
NET LIABILITIES - -


RESERVES - -

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

FAIRWAYS OWNERS LTD. (REGISTERED NUMBER: 01052033)

BALANCE SHEET - continued
31ST MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 8th December 2023 and were signed on its behalf by:




N. Da Rold - Director



M. Rayner - Director


FAIRWAYS OWNERS LTD. (REGISTERED NUMBER: 01052033)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

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

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 - 10% on cost

The freehold interest is not depreciated as it is an interest in the land on which the leasehold flats are erected.

Taxation
Taxation for the year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
Cost
At 1st April 2022
and 31st March 2023 9,562 255 9,817
Depreciation
At 1st April 2022
and 31st March 2023 - 254 254
Net book value
At 31st March 2023 9,562 1 9,563
At 31st March 2022 9,562 1 9,563

FAIRWAYS OWNERS LTD. (REGISTERED NUMBER: 01052033)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Owed by lessees
for service charges levied 1,112 1,102
Prepayments 2,490 1,980
3,602 3,082

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Held in Trust for lessees 5,817 3,159
Maintenance reserve 15,283 11,443
Accrued expenses 814 890
21,914 15,492

The amount shown for the Maintenance reserve represents funds provided and due by tenants towards future major expenditures. On the occasion of such expenditure, releases of these funds are made against that expenditure, resulting in a reduction of the fund.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loans for freehold 9,636 9,636

The loans are from the leaseholders to finance the acquisition of the freehold interest in the land on which the flats are erected. The loans are not expected to be repaid for the forseeable future, unless the freehold interest is sold.


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Each director is also a shareholder and lessee of the property. Service and other charges were levied under the terms of the leases which were made through the service charge account for the period of directorship.

9. ULTIMATE CONTROLLING PARTY

The company has no controlling party.

10. SHARE CAPITAL

The company is limited by guarantee and does not have a share capital. In the event of the company being wound up, the liability of any member is limited to £1.