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REGISTERED NUMBER: 07076588 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

MICHAEL FAIRFIELD LTD

MICHAEL FAIRFIELD LTD (REGISTERED NUMBER: 07076588)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

MICHAEL FAIRFIELD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: Dr M C Fairfield
Mrs J Fairfield





SECRETARY: Mrs H Lovatt





REGISTERED OFFICE: Lonsdale
High Street
Lutteworth
Leicestershire
LE17 4AD





REGISTERED NUMBER: 07076588 (England and Wales)





ACCOUNTANTS: Crowfoot & Co Accountants Ltd
Lonsdale House
High Street
Lutterworth
Leicestershire
LE17 4AD

MICHAEL FAIRFIELD LTD (REGISTERED NUMBER: 07076588)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 476,221 475,261
Investments 5 - 25,000
476,221 500,261

CURRENT ASSETS
Debtors 6 - 2,169
Cash at bank 145,328 119,830
145,328 121,999
CREDITORS
Amounts falling due within one year 7 6,207 16,347
NET CURRENT ASSETS 139,121 105,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

615,342

605,913

PROVISIONS FOR LIABILITIES 660 478
NET ASSETS 614,682 605,435

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 614,582 605,335
SHAREHOLDERS' FUNDS 614,682 605,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 25 February 2025 and were signed on its behalf by:




Dr M C Fairfield - Director


MICHAEL FAIRFIELD LTD (REGISTERED NUMBER: 07076588)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Michael Fairfield 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

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 3 (2023 - 3 ) .

MICHAEL FAIRFIELD LTD (REGISTERED NUMBER: 07076588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 December 2023 472,746 12,744 485,490
Additions - 2,698 2,698
At 30 November 2024 472,746 15,442 488,188
DEPRECIATION
At 1 December 2023 - 10,229 10,229
Charge for year - 1,738 1,738
At 30 November 2024 - 11,967 11,967
NET BOOK VALUE
At 30 November 2024 472,746 3,475 476,221
At 30 November 2023 472,746 2,515 475,261

Cost or valuation at 30 November 2024 is represented by:

Freehold Computer
property equipment Totals
£    £    £   
Valuation in 2024 472,746 15,442 488,188

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST OR VALUATION
At 1 December 2023 25,000
Disposals (25,000 )
At 30 November 2024 -
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 25,000

Cost or valuation at 30 November 2024 is represented by:

Other
investment
£   
Valuation in 2023 25,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,169

MICHAEL FAIRFIELD LTD (REGISTERED NUMBER: 07076588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 4,520 13,828
Other creditors 1,687 2,519
6,207 16,347

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 November 2024, an amount of £607 (2023 £1,549) was due to the directors, which amount is included within creditors on the balance sheet.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr M C Fairfield.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MICHAEL FAIRFIELD LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Michael Fairfield Ltd for the year ended 30 November 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Michael Fairfield Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Michael Fairfield Ltd and state those matters that we have agreed to state to the Board of Directors of Michael Fairfield Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Michael Fairfield Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Michael Fairfield Ltd. You consider that Michael Fairfield Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Michael Fairfield Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Crowfoot & Co Accountants Ltd
Lonsdale House
High Street
Lutterworth
Leicestershire
LE17 4AD


25 February 2025