Registered number: 11011492 | ||||||||
FOR THE YEAR ENDED 31 OCTOBER 2023 | ||||||||
Prepared By: | ||||||||
Hope Jones | ||||||||
Chartered Accountants | ||||||||
Suite114, Lymington Town Hall | ||||||||
Avenue Road | ||||||||
Lymington | ||||||||
Hants | ||||||||
SO41 9ZG |
Fairfax Asset Management Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 OCTOBER 2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Hampshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in England and Wales, registered number 11011492 | ||||||||
ACCOUNTANTS | ||||||||
Hope Jones | ||||||||
Chartered Accountants | ||||||||
Suite114, Lymington Town Hall | ||||||||
Avenue Road | ||||||||
Lymington | ||||||||
Hants | ||||||||
SO41 9ZG |
Fairfax Asset Management Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31 OCTOBER 2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Statement of Financial Position | 3 | |||||||
Notes to the Accounts | 4 -5 | |||||||
Fairfax Asset Management Limited | ||||||||
STATEMENT OF FINANCIAL POSITION AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
Investment assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
2,143 | 7,049 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT LIABILITIES | ( | (271,925) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 416,270 | 417,429 | |||||||
NET LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | ||||||||||
Profit and loss account | (127,548) | (129,034) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Fairfax Asset Management Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Fixtures, Fittings and Equipment | straight line20% |
1c. Investment Properties | ||||||||
Investment properties are included in the financial statements at fair value. Gains are recognised in the Statement of Comprehensive Income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold, taking into account accumulated losses for tax purposes. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | - | |||||
3. TANGIBLE FIXED ASSETS | ||||
Fixtures, Fittings and | ||||
Equipment | Total | |||
£ | £ | |||
Cost | ||||
At 1 November 2022 | 27,381 | 27,381 | ||
At 31 October 2023 | 27,381 | 27,381 | ||
Depreciation | ||||
At 1 November 2022 | 27,059 | 27,059 | ||
For the year | 116 | 116 | ||
At 31 October 2023 | 27,175 | 27,175 | ||
Net Book Amounts | ||||
At 31 October 2023 | 206 | |||
At 31 October 2022 | 322 | |||
Fairfax Asset Management Limited | ||||||||
4. INVESTMENT PROPERTIES | ||||
Investment | ||||
Properties | Total | |||
£ | £ | |||
Fair value | ||||
At 1 November 2022 | 560,000 | 560,000 | ||
At 31 October 2023 | 560,000 | 560,000 | ||
5. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Other debtors | 789 | 789 | ||||||
Prepayments | 231 | 404 | ||||||
1,020 | 1,193 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Directors current account - N Vradis | 255,216 | 265,256 | ||||||
Directors current account - C Quinton | 14,639 | 8,839 | ||||||
Bank loans and overdrafts | 1,180 | 1,151 | ||||||
Other creditors | 213 | 26 | ||||||
Accruals | 2,377 | 3,702 | ||||||
273,625 | 278,974 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans | 416,270 | 417,429 | ||||||
416,270 | 417,429 | |||||||
8. SECURED CREDITORS | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | 409,765 | 409,795 | ||||||