REGISTERED NUMBER: |
FAIRWAYS OWNERS LTD. |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
t/a Findlay Wetherfield Scott & Co., |
Chartered Accountants |
137, Station Road, |
Chingford, |
London |
E4 6AG |
BANKERS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES |
RESERVES | - | - |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery | - |
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 |
Depreciation |
At 1st April 2022 |
and 31st March 2023 |
Net book value |
At 31st March 2023 |
At 31st March 2022 |
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 |
Prepayments |
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 |
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 |
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. |