2023-04-012024-03-312024-03-31false01519470FAIRHAVEN MANAGEMENT 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FAIRHAVEN MANAGEMENT LIMITED

Registered Number
01519470
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

FAIRHAVEN MANAGEMENT LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

HEWITSON, John Reid
LAW, Damian Stephen
NORTHING, Valerie Mary
SMART, Marian Eloise

Company Secretary

SMART, Marian Eloise

Registered Address

Third Floor
10 South Parade
Leeds
LS1 5QS

Place of Business

3 Fairhaven

Main Road

Windermere

LA23 1DX


Registered Number

01519470 (England and Wales)
FAIRHAVEN MANAGEMENT LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3368368
368368
Current assets
Cash at bank and on hand16,43334,209
16,43334,209
Creditors amounts falling due within one year4(842)(773)
Net current assets (liabilities)15,59133,436
Total assets less current liabilities15,95933,804
Net assets15,95933,804
Capital and reserves
Called up share capital490490
Share premium270270
Other reserves15,19933,044
Shareholders' funds15,95933,804
The financial statements were approved and authorised for issue by the Board of Directors on 30 July 2024, and are signed on its behalf by:
HEWITSON, John Reid
Director
Registered Company No. 01519470
FAIRHAVEN MANAGEMENT LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
Fairhaven Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Third Floor, 10 South Parade, Leeds, West Yorkshire, LS1 5QS. The company's principal activity during the year continued to be to hold the deeds of Fairhaven, Main Road, Windermere for the benefit of the members and to attend the management and administration of the estate. All transactions in the year are related to the maintenance of the common parts in accordance with the leases. Service charges are collected on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of Section 42 of the Landlord and Tenant Act 1987. The sinking fund represents the excess of maintenance charges raised over the costs incurred, and the surplus will be taken into account when determining future contributions to be collected from members. During the year the company has not traded. It continues to defray expenditure for the maintenance of Fairhaven and to collect contributions from the leaseholders.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. 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 £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover policy
Turnover represents the value of service charges and ground rents payable by tenants.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. No depreciation has been applied to freehold land and buildings since in the opinion of the directors the anticipated residual value exceeds the book value at the date of the balance sheet. This policy is not in accordance with the provisions FRS102, but the financial effects of non-compliance are not considered material. Depreciation is provided on all tangible fixed assets as follows: Land and Buildings Freehold Nil
2.Average number of employees
The average monthly number of persons (including directors) employed by the company during the year was:

20242023
Average number of employees during the year44
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 April 23368368
At 31 March 24368368
Net book value
At 31 March 24368368
At 31 March 23368368
The market value of the reversionary interest in the freehold land and buildings disclosed in the accounts at a cost of £368 is considered by the directors to be not materially in excess of cost.
4.Creditors: amounts due within one year

2024

2023

££
Accrued liabilities and deferred income842773
Total842773