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REGISTERED NUMBER: 10379562 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

FAIRLIGHT HOMES (UK) LTD

FAIRLIGHT HOMES (UK) LTD (REGISTERED NUMBER: 10379562)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FAIRLIGHT HOMES (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A H Taylor
Mrs A P A Barros Taylor





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 10379562 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

FAIRLIGHT HOMES (UK) LTD (REGISTERED NUMBER: 10379562)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,336 2,544

CURRENT ASSETS
Stocks 5 574,555 534,187
Debtors 6 258,306 414,071
Cash at bank - 11,125
832,861 959,383
CREDITORS
Amounts falling due within one year 7 614,430 715,270
NET CURRENT ASSETS 218,431 244,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

233,767

246,657

CREDITORS
Amounts falling due after more than one
year

8

(223,947

)

(234,791

)

PROVISIONS FOR LIABILITIES 10 (2,825 ) (483 )
NET ASSETS 6,995 11,383

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 6,993 11,381
SHAREHOLDERS' FUNDS 6,995 11,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




A H Taylor - Director


FAIRLIGHT HOMES (UK) LTD (REGISTERED NUMBER: 10379562)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Fairlight Homes (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents income from consultancy work net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 25% on reducing balance
Furniture,fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 (2023 - 2 ) .

FAIRLIGHT HOMES (UK) LTD (REGISTERED NUMBER: 10379562)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant & Furniture,fittings Motor Computer
machinery & equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 7,840 1,000 - 4,682 13,522
Additions - - 18,425 - 18,425
At 31 March 2024 7,840 1,000 18,425 4,682 31,947
DEPRECIATION
At 1 April 2023 6,237 763 - 3,978 10,978
Charge for year 401 59 4,606 567 5,633
At 31 March 2024 6,638 822 4,606 4,545 16,611
NET BOOK VALUE
At 31 March 2024 1,202 178 13,819 137 15,336
At 31 March 2023 1,603 237 - 704 2,544

5. STOCKS
2024 2023
£    £   
Work-in-progress 574,555 534,187

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,700 -
Other debtors 250,435 407,650
Tax 3,319 -
VAT - 4,013
Prepayments 1,852 2,408
258,306 414,071

Other debtors forms amounts owed by related companies. These are repayable upon demand but are not expected to be received within one year.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,863 19,330
Other loans 490,025 173,388
Trade creditors - 1,029
Tax - 3,319
PAYE 58 430
VAT 3,075 -
Other creditors 4,607 323,316
Directors' current accounts 91,002 192,528
Accrued expenses 1,800 1,930
614,430 715,270

Other creditors forms amounts owed by related companies. These are repayable upon demand but are not expected to be received within one year.

FAIRLIGHT HOMES (UK) LTD (REGISTERED NUMBER: 10379562)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 19,826 17,799
Bank loans - 2-5 years 15,190 35,016
Bank loans more 5 yr by instal 188,931 181,976
223,947 234,791

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 188,931 181,976

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 21,916

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Deferred tax 2,914 483
Deferred tax on losses (89 ) -
2,825 483

Deferred
tax
£   
Balance at 1 April 2023 483
Accelerated capital allowances 2,431
Deferred tax on losses (89 )
Balance at 31 March 2024 2,825

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £250,435 (2023 £407,650) by Little Worsham Barns Ltd, a company controlled by A H Taylor. No interest was charged on this amount. This amount is repayable on demand.

At the balance sheet date the company owed £335,773 (2023 £321,756) to A And D Properties Ltd, a company controlled by A H Taylor. No interest was charged on this amount. This amount is repayable on demand.