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REGISTERED NUMBER: 08575475 (England and Wales)


















Fairview Holiday Homes Limited

Financial Statements for the Year Ended 31st May 2023






Fairview Holiday Homes Limited (Registered number: 08575475)






Contents of the Financial Statements
for the year ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fairview Holiday Homes Limited

Company Information
for the year ended 31st May 2023







DIRECTORS: R. A. Rowbottom
R.E.M. Rowbottom





SECRETARY: R.E.M. Rowbottom





REGISTERED OFFICE: Plowlands Farm
Patrington Road
Welwick
East Yorkshire
HU12 0RU





REGISTERED NUMBER: 08575475 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Fairview Holiday Homes Limited (Registered number: 08575475)

Balance Sheet
31st May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,621,353 1,075,897

CURRENT ASSETS
Debtors 5 13,931 113,251
Cash at bank 25,303 185,488
39,234 298,739
CREDITORS
Amounts falling due within one year 6 1,474,725 1,183,789
NET CURRENT LIABILITIES (1,435,491 ) (885,050 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,862

190,847

PROVISIONS FOR LIABILITIES 57,027 50,800
NET ASSETS 128,835 140,047

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 128,735 139,947
SHAREHOLDERS' FUNDS 128,835 140,047

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

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

Fairview Holiday Homes Limited (Registered number: 08575475)

Balance Sheet - continued
31st May 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 Profit & loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th January 2024 and were signed on its behalf by:





R. A. Rowbottom - Director


Fairview Holiday Homes Limited (Registered number: 08575475)

Notes to the Financial Statements
for the year ended 31st May 2023

1. STATUTORY INFORMATION

Fairview Holiday Homes 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
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Land and buildings4% on cost
Plant and machinery etc5% on cost, 10% on cost, 15% on cost, 33% on cost

Current & deferred tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Fairview Holiday Homes Limited (Registered number: 08575475)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

2. ACCOUNTING POLICIES - continued

Loans & borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1st June 2022 1,101,544 521,805 30,020 1,653,369
Additions 622,664 - 427 623,091
Disposals - - (2,000 ) (2,000 )
At 31st May 2023 1,724,208 521,805 28,447 2,274,460
DEPRECIATION
At 1st June 2022 292,951 268,488 16,033 577,472
Charge for year 38,010 35,228 2,522 75,760
Eliminated on disposal - - (125 ) (125 )
At 31st May 2023 330,961 303,716 18,430 653,107
NET BOOK VALUE
At 31st May 2023 1,393,247 218,089 10,017 1,621,353
At 31st May 2022 808,593 253,317 13,987 1,075,897

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,366 99,930
Prepayments and accrued income 8,565 13,321
13,931 113,251

Fairview Holiday Homes Limited (Registered number: 08575475)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 1,096,551 1,108,063
Trade creditors 13,504 10,585
Tax 17,559 43,802
VAT 3,734 11,338
Other creditors 337,663 -
Accruals and deferred income 5,714 10,001
1,474,725 1,183,789

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 1,096,551 1,108,063

The company has been granted by PJR (Mile House) Limited a loan facility of £1.2m to be drawn on the request of the borrower. At 31 May 2023 the amount due to PJR (Mile House) Limited is £1,096,551 (2022 - £1,108,063). The loan is secured by a legal mortgage over the company's freehold and leasehold properties and is repayable on demand. Interest is paid at 1.70% over the base rate of Agricultural Mortgage Corporation for the first 10 years and 2.35% thereafter.