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Registered number: 11011492

Fairfax Asset Management Limited

ACCOUNTS
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
N Vradis
C Vradis
REGISTERED OFFICE
1 Maryland Gardens
Lymington
Hampshire
SO41 0UY
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 Position3
Notes to the Accounts4 -5

Fairfax Asset Management Limited

STATEMENT OF FINANCIAL POSITION AT31 October 2023
20232022
Notes££
FIXED ASSETS
Tangible assets3206322
Investment assets4560,000560,000
560,206560,322
CURRENT ASSETS
Debtors51,0201,193
Cash at bank and in hand1,1235,856
2,1437,049
CREDITORS: Amounts falling due within one year6273,625278,974
NET CURRENT LIABILITIES(271,482)(271,925)
TOTAL ASSETS LESS CURRENT LIABILITIES288,724288,397
CREDITORS: Amounts falling due after more than one year7416,270417,429
NET LIABILITIES(127,546)(129,032)
CAPITAL AND RESERVES
Called up share capital22
Profit and loss account(127,548)(129,034)
SHAREHOLDERS' FUNDS(127,546)(129,032)
For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on31 July 2024and signed on their behalf by
.............................
N Vradis
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
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures, Fittings and Equipmentstraight 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
20232022
No.No.
Average number of employees--
3. TANGIBLE FIXED ASSETS

Fixtures, Fittings and

EquipmentTotal
££
Cost
At 1 November 202227,38127,381
At 31 October 202327,38127,381
Depreciation
At 1 November 202227,05927,059
For the year116116
At 31 October 202327,17527,175
Net Book Amounts
At 31 October 2023206206
At 31 October 2022322322

Fairfax Asset Management Limited

4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 November 2022560,000560,000
At 31 October 2023560,000560,000
5. DEBTORS 20232022
££
Amounts falling due within one year
Other debtors789789
Prepayments231404
1,0201,193
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Directors current account - N Vradis255,216265,256
Directors current account - C Quinton14,6398,839
Bank loans and overdrafts1,1801,151
Other creditors21326
Accruals2,3773,702
273,625278,974
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans 416,270417,429
416,270417,429
8. SECURED CREDITORS
20232022
££
Amount of bank loans and overdrafts which are secured409,765409,795