Fairhaven Management Services Limited 06486212 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is to provide management to sheltered accommodation. Digita Accounts Production Advanced 6.30.9574.0 true 06486212 2023-04-01 2024-03-31 06486212 2024-03-31 06486212 core:RetainedEarningsAccumulatedLosses 2024-03-31 06486212 core:CurrentFinancialInstruments 2024-03-31 06486212 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06486212 bus:SmallEntities 2023-04-01 2024-03-31 06486212 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06486212 bus:FilletedAccounts 2023-04-01 2024-03-31 06486212 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06486212 bus:RegisteredOffice 2023-04-01 2024-03-31 06486212 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 06486212 bus:Director1 2023-04-01 2024-03-31 06486212 bus:Director2 2023-04-01 2024-03-31 06486212 bus:Director3 2023-04-01 2024-03-31 06486212 bus:Director5 2023-04-01 2024-03-31 06486212 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 06486212 countries:EnglandWales 2023-04-01 2024-03-31 06486212 2022-04-01 2023-03-31 06486212 2023-03-31 06486212 core:RetainedEarningsAccumulatedLosses 2023-03-31 06486212 core:CurrentFinancialInstruments 2023-03-31 06486212 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06486212

Fairhaven Management Services Limited

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

Pages for filing with Registrar

 

Fairhaven Management Services Limited

Contents


 

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Fairhaven Management Services Limited

Company Information


 

Directors

Mr AW Atkinson

Mr R Atkinson

Mr G Jackson

Mr M J Hartley

Mr T B Jones

Company secretary

Mr T B Jones

Registered office

22 Crownlee
Penwortham
Preston
Lancashire
PR1 0PA

 

Fairhaven Management Services Limited

(Registration number: 06486212)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

968

6,022

Cash at bank and in hand

 

7,161

5,037

 

8,129

11,059

Creditors: Amounts falling due within one year

5

(7,718)

(10,648)

Net assets

 

411

411

Reserves

 

Retained earnings

411

411

Surplus

 

411

411

 

Fairhaven Management Services Limited

(Registration number: 06486212)
Balance Sheet as at 31 March 2024 (continued)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 September 2024 and signed on its behalf by:
 

.........................................
Mr AW Atkinson
Director

.........................................
Mr R Atkinson
Director

.........................................
Mr M J Hartley
Director

 

Fairhaven Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
22 Crownlee
Penwortham
Preston
Lancashire
PR1 0PA

These financial statements were authorised for issue by the Board on 4 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Fairhaven Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Fairhaven Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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 liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Debtors

2024
£

2023
£

Trade debtors

228

952

Prepayments

740

5,070

968

6,022

 

Fairhaven Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Trade creditors

 

2,810

5,643

Amounts due to related parties

673

673

Other taxation and social security

 

-

97

Other creditors

 

4,235

4,235

 

7,718

10,648