IRIS Accounts Production v24.2.0.383 12851723 Board of Directors Board of Directors 1.10.22 30.9.23 30.9.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh128517232022-09-30128517232023-09-30128517232022-10-012023-09-30128517232021-09-30128517232021-10-012022-09-30128517232022-09-3012851723ns15:EnglandWales2022-10-012023-09-3012851723ns14:PoundSterling2022-10-012023-09-3012851723ns10:Director12022-10-012023-09-3012851723ns10:Director22022-10-012023-09-3012851723ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3012851723ns10:SmallEntities2022-10-012023-09-3012851723ns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3012851723ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3012851723ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3012851723ns10:FullAccounts2022-10-012023-09-3012851723ns5:CurrentFinancialInstruments2023-09-3012851723ns5:CurrentFinancialInstruments2022-09-3012851723ns5:Non-currentFinancialInstruments2023-09-3012851723ns5:Non-currentFinancialInstruments2022-09-3012851723ns5:ShareCapital2023-09-3012851723ns5:ShareCapital2022-09-3012851723ns5:RetainedEarningsAccumulatedLosses2023-09-3012851723ns5:RetainedEarningsAccumulatedLosses2022-09-3012851723ns10:RegisteredOffice2022-10-012023-09-301285172312022-10-012023-09-3012851723ns5:ComputerEquipment2022-10-012023-09-3012851723ns5:ComputerEquipment2023-09-3012851723ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3012851723ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3012851723ns5:Secured2023-09-3012851723ns5:Secured2022-09-30
REGISTERED NUMBER: 12851723 (England and Wales)



















FOREVER FAIRFIELD LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






FOREVER FAIRFIELD LTD (REGISTERED NUMBER: 12851723)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


FOREVER FAIRFIELD LTD (REGISTERED NUMBER: 12851723)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,646 -

CURRENT ASSETS
Stocks - 1,731,999
Debtors 5 132,405 112,458
Cash at bank 74,600 92,051
207,005 1,936,508
CREDITORS
Amounts falling due within one year 6 230,379 336,128
NET CURRENT (LIABILITIES)/ASSETS (23,374 ) 1,600,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,728

)

1,600,380

CREDITORS
Amounts falling due after more than one
year

7

-

1,836,382
NET LIABILITIES (21,728 ) (236,002 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (21,730 ) (236,004 )
SHAREHOLDERS' FUNDS (21,728 ) (236,002 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

FOREVER FAIRFIELD LTD (REGISTERED NUMBER: 12851723)

BALANCE SHEET - continued
30 SEPTEMBER 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 and Loss Account has not been delivered.

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




G S Kalirai - Director



P Basra - Director


FOREVER FAIRFIELD LTD (REGISTERED NUMBER: 12851723)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Forever Fairfield Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12851723

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover relates to sale of property which 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FOREVER FAIRFIELD LTD (REGISTERED NUMBER: 12851723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 2,210
At 30 September 2023 2,210
DEPRECIATION
Charge for year 564
At 30 September 2023 564
NET BOOK VALUE
At 30 September 2023 1,646

FOREVER FAIRFIELD LTD (REGISTERED NUMBER: 12851723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 106,029 106,029
Other debtors 26,376 6,429
132,405 112,458

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 74,747 16,579
Amounts owed to group undertakings 152,324 279,468
Taxation and social security 1,747 1,744
Other creditors 1,561 38,337
230,379 336,128

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1,090,245
Other creditors - 746,137
- 1,836,382

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 1,090,245

9. ULTIMATE CONTROLLING PARTY

Nirvair Developments Limited is regarded by the directors as being the immediate parent company.

Nirvair Developments Limited is jointly owned by Kalirai Capital Partners Limited and Mr Lean Limited, these companies are controlled respectively by G S Kalirai and P Basra.