FAIRFAX DESIGN AND BUILD LIMITED

Company Registration Number:
11770715 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

FAIRFAX DESIGN AND BUILD LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

FAIRFAX DESIGN AND BUILD LIMITED

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

Principal Activities The Company is a wholly owned subsidiary of Fairhive Homes Limited and it was formed to design and build properties particularly for the group and potentially other organisations outside of the group.

Additional information

Other information The directors are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Barbara Richardson
Susan Ralphs
Griffith Marshalsay
Roger Craft


The director shown below has held office during the whole of the period from
1 April 2023 to 31 March 2024

Steven Lambert


Secretary Jane Rothery

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
1 August 2024

And signed on behalf of the board by:
Name: Barbara Richardson
Status: Director

FAIRFAX DESIGN AND BUILD LIMITED

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 1,209,000 1,229,000
Cost of sales: ( 1,154,000 ) ( 1,206,000 )
Gross profit(or loss): 55,000 23,000
Distribution costs: 0 0
Administrative expenses: ( 54,000 ) ( 22,000 )
Other operating income: 0 0
Operating profit(or loss): 1,000 1,000
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 1,000 1,000
Tax: 0 0
Profit(or loss) for the financial year: 1,000 1,000

FAIRFAX DESIGN AND BUILD LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Called up share capital not paid: 1 1
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors: 3 573,000 68,000
Cash at bank and in hand: 161,000 616,000
Investments:   0 0
Total current assets: 734,000 684,000
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 734,000 ) ( 684,000 )
Net current assets (liabilities): 0 0
Total assets less current liabilities: 1 1
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 1 1
Capital and reserves
Called up share capital: 1 1
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: 0 0
Total Shareholders' funds: 1 1

The notes form part of these financial statements

FAIRFAX DESIGN AND BUILD LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 1 August 2024
and signed on behalf of the board by:

Name: Barbara Richardson
Status: Director

The notes form part of these financial statements

FAIRFAX DESIGN AND BUILD LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents fees receivable from the design and build services provided to other group undertakings. All turnover is generated within the UK. Turnover is recognised when the consideration is received or receivable for the services provided.

    Other accounting policies

    Going concern After reviewing the consolidated budget for 2023/24 and based on normal strategic business planning and control procedures, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has one secure customer, Fairhive Homes Limited, with a cost plus arrangement in place and therefore it has limited operational risks. The financial statements have therefore been prepared on a going concern basis. The company uses available short term funds from Fairhive Homes Limited to manage working capital requirements and the directors have obtained assurance from the directors of Fairhive Homes Limited that this facility will remain in place for at least 13 months from the date of signing the financial statements. On this basis the Directors are of the opinion that a material uncertainty does not exist and therefore have prepared these financial statements on a going concern basis. Tax and gift aid The Company makes a qualifying donation of all taxable profits to a charitable group company. The gift aid paid during the year is reflected in the accounts and for any remaining taxable profit not paid by the year end we accrue the tax relief as we expect to pay within 9 months. Value Added Tax (VAT) The Company charges VAT on its income and it able to recover VAT it incurs on expenditure.

FAIRFAX DESIGN AND BUILD LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

FAIRFAX DESIGN AND BUILD LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024 2023
£ £
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 573,000 68,000
Total 573,000 68,000

FAIRFAX DESIGN AND BUILD LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 734,000 684,000
Total 734,000 684,000