Registered number
10533745
FAIR ONE HOME LTD
FINANCIAL STATEMENTS FOR THE YEAR
31 MARCH 2024
DVL & CO ACCOUNTANTS
48 MELFORD ROAD
WALTHAMSTOW
LONDON E17 7EL
FAIR ONE HOME LTD
Report and accounts
Contents
Page
Company information 1
Director's report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6 - 8
For directors informations only:
Detailed profit and loss accounts 9 - 10
Accountants 11
FAIR ONE HOME LTD
Company Information
Director
Mr Denis O'Dwyer
Secretary
Mr Denis O'Dwyer
Accountants
DVL & CO
48
Melford Road
London
United Kingdom
E17 7EL
Bankers
Natwest
250 Bishopgate
London
EC2M 4AA
Registered office
52A
Top Floor Flat
High Street
Watton
Thatford IP25 6AE
Registered number
10533745
FAIR ONE HOME LTD
Registered number: 10533745
Director's Report
The director presents his report and accounts for the year ended 31 March 2024.
Principal activities
The company's principal activity during the year was renting own properties.
Directors
The following persons served as directors during the year:
Mr Denis O'Dwyer
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 16 August 2024 and signed by its order.
Mr Denis O'Dwyer
Director
Secretary
FAIR ONE HOME LTD
Profit and Loss Account
for the year ended 31 March 2024
2024 2023
£ £
Rental income 3,600 -
Administrative expenses (3,177) (194)
Operating profit/(loss) 423 (194)
Profit/(loss) before taxation 423 (194)
Tax on profit/(loss) (39) -
Profit/(loss) for the financial year 384 (194)
CONTINUING OPERATIONS
The company commenced investment income with effect from 10 February 2024.
Total recognised gains or losses
The company made no recognised gains or losses other than the profit/loss
fot the above two financial years.
FAIR ONE HOME LTD
Registered number: 10533745
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 515,918 831
Current assets
Cash at bank and in hand 207,632 262,002
Creditors: amounts falling due within one year 4 (755) (75)
Net current assets 206,877 261,927
Total assets less current liabilities 722,795 262,758
Creditors: amounts falling due after more than one year 5 (513,946) (52,293)
Net assets 208,849 210,465
Capital and reserves
Called up share capital 100 100
Profit and loss account 208,749 210,365
Shareholders' funds 208,849 210,465
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Denis O'Dwyer
Director
Approved by the board on 16 August 2024
FAIR ONE HOME LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term with A New Place Ltd
Plant and machinery Written down value 15%
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Investment Property Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 - 831 831
Additions 515,212 - 515,212
At 31 March 2024 515,212 831 516,043
Depreciation
Charge for the year - 125 125
At 31 March 2024 - 125 125
Net book value
At 31 March 2024 515,212 706 515,918
At 31 March 2023 - 831 831
4 Creditors: amounts falling due within one year
Corporation tax liability 39 -
Other creditors 716 75
755 75
2024 2023
£ £
5 Creditors: amounts falling due after one year
Director loan account 513,946 52,293
Related party transations
The balance on the Directors Loan Accounts at 31 March 2024 was £513,946
(31 March 2023 was £52,293) as disclosed under note in 5 above.
The director loan is non-bearing with no fixed repayment date.
6 Trust deed date 11 January 2024
The trustee declares that the property known as 8 Farnborough Avenue Walthamstow
London E17 6HX under title number EG29309 was purchases on 11 January 2024 in his and her
Personal name (Mr Denis O Dwyer & Mrs Flamie O'Dwyer)
7 Other information
FAIR ONE HOME LTD is a private company limited by shares and incorporated in England. Its registered office is:
52A
Top Floor Flat
High Street
Watton
Thatford IP25 6AE
FAIR ONE HOME LTD 10533745 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2022 10533745 2022-04-01 2023-03-31 10533745 core:WithinOneYear 2023-03-31 10533745 core:AfterOneYear 2023-03-31 10533745 core:ShareCapital 2023-03-31 10533745 core:RetainedEarningsAccumulatedLosses 2023-03-31 10533745 2023-04-01 2024-03-31 10533745 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10533745 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10533745 bus:Director1 2023-04-01 2024-03-31 10533745 bus:CompanySecretary1 2023-04-01 2024-03-31 10533745 2 2023-04-01 2024-03-31 10533745 core:LandBuildings 2023-04-01 2024-03-31 10533745 core:PlantMachinery 2023-04-01 2024-03-31 10533745 countries:England 2023-04-01 2024-03-31 10533745 bus:FRS102 2023-04-01 2024-03-31 10533745 bus:FullAccounts 2023-04-01 2024-03-31 10533745 2024-03-31 10533745 core:WithinOneYear 2024-03-31 10533745 core:AfterOneYear 2024-03-31 10533745 core:ShareCapital 2024-03-31 10533745 core:RetainedEarningsAccumulatedLosses 2024-03-31 10533745 core:LandBuildings 2024-03-31 10533745 core:PlantMachinery 2024-03-31 10533745 2023-03-31 10533745 core:LandBuildings 2023-03-31 10533745 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure