REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
FAIRFIELD REAL ESTATE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
FAIRFIELD REAL ESTATE LIMITED |
FAIRFIELD REAL ESTATE LIMITED (REGISTERED NUMBER: 12201477) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
FAIRFIELD REAL ESTATE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors and Chartered Accountants |
Rutland House |
90-92 Baxter Avenue |
Southend on Sea |
Essex |
SS2 6HZ |
FAIRFIELD REAL ESTATE LIMITED (REGISTERED NUMBER: 12201477) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FAIRFIELD REAL ESTATE LIMITED (REGISTERED NUMBER: 12201477) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Fairfield Real Estate Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
On 31 August 2022, the company transferred all of its assets and hence activities to Fairfield Garage (Leigh on Sea) Limited, another group company at that time and hence thereafter there has been no activity in the company. |
Consequently, the company's accounts have been prepared on the basis the company is no longer a going concern, and all assets and liabilities carried forward at their expected recoverable or settlement value. No material adjustments arose solely as a consequence of ceasing to apply the going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1.00 | 100 | 100 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
FAIRFIELD REAL ESTATE LIMITED (REGISTERED NUMBER: 12201477) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued |
Emphasis of matter - accounts prepared on a basis other than going concern |
We draw attention to Note 2 to the financial statements which explains that on 31 August 2022 the company transferred all of its assets and hence activities to Fairfield Garage (Leigh on Sea) Limited, another group company and hence thereafter there has been no activity in the company. |
Therefore the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter. |
8. | CONTINGENT LIABILITIES |
Fairfield Limited and its subsidiaries (Fairfield Real Estate Limited and Fairfield Investment Properties Limited) have jointly entered into a VAT group and a corporation tax group payment arrangement. Fairfield Investment Properties Limited is the representative member for both taxes. Members of the VAT group are jointly and severally liable for the debts of any party within it, whilst members of the corporation tax group only implicitly bear financial obligations of their associates. |
The tax grouping arrangements were undertaken to ease the administrative burden of all parties involved. Other than the timing of payments, it is estimated there is no financial effect (positive or negative) to any party and in the unlikely event one party found itself bearing the cost of another it is anticipated the loss would be reimbursed accordingly. |
9. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company was owed £285,223 (2022 - owed £301,269) by other group companies. |
10. | ULTIMATE PARENT COMPANY |
The company's ultimate parent undertaking at the balance sheet was Fairfield Limited, a company incorporated in England. The company's registered address is the same as Fairfield Real Estate Limited and can be found on the company information page. |