0 0 Fair Rose Ltd 10102018 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true 10102018 2023-12-01 2024-11-30 10102018 2024-11-30 10102018 bus:OrdinaryShareClass1 2024-11-30 10102018 bus:OrdinaryShareClass2 2024-11-30 10102018 bus:OrdinaryShareClass3 2024-11-30 10102018 bus:OrdinaryShareClass4 2024-11-30 10102018 core:CurrentFinancialInstruments 2024-11-30 10102018 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 10102018 core:Non-currentFinancialInstruments 2024-11-30 10102018 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 10102018 core:LandBuildings 2024-11-30 10102018 bus:SmallEntities 2023-12-01 2024-11-30 10102018 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 10102018 bus:FilletedAccounts 2023-12-01 2024-11-30 10102018 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 10102018 bus:RegisteredOffice 2023-12-01 2024-11-30 10102018 bus:CompanySecretary1 2023-12-01 2024-11-30 10102018 bus:Director1 2023-12-01 2024-11-30 10102018 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 10102018 bus:OrdinaryShareClass2 2023-12-01 2024-11-30 10102018 bus:OrdinaryShareClass3 2023-12-01 2024-11-30 10102018 bus:OrdinaryShareClass4 2023-12-01 2024-11-30 10102018 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10102018 bus:Agent1 2023-12-01 2024-11-30 10102018 core:RevaluationReserve core:LandBuildings 2023-12-01 2024-11-30 10102018 core:LandBuildings 2023-12-01 2024-11-30 10102018 core:OtherRelatedParties 2023-12-01 2024-11-30 10102018 countries:England 2023-12-01 2024-11-30 10102018 2023-11-30 10102018 core:LandBuildings 2023-11-30 10102018 2022-12-01 2023-11-30 10102018 2023-11-30 10102018 bus:OrdinaryShareClass1 2023-11-30 10102018 bus:OrdinaryShareClass2 2023-11-30 10102018 bus:OrdinaryShareClass3 2023-11-30 10102018 bus:OrdinaryShareClass4 2023-11-30 10102018 core:CurrentFinancialInstruments 2023-11-30 10102018 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 10102018 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-11-30 10102018 core:Non-currentFinancialInstruments 2023-11-30 10102018 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 10102018 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2023-11-30 10102018 core:LandBuildings 2023-11-30 10102018 core:PreviouslyStatedAmount 2023-11-30 10102018 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 10102018 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 10102018 bus:OrdinaryShareClass3 2022-12-01 2023-11-30 10102018 bus:OrdinaryShareClass4 2022-12-01 2023-11-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 10102018

Fair Rose Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Fair Rose Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Fair Rose Ltd

Company Information

Director

Mr Paul Winston

Company secretary

Miss Gina Rose Winston

Registered office

Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

Accountants

Paul Winston Limited
Chartered AccountantsSilver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

Fair Rose Ltd

(Registration number: 10102018)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

fixed assets

 

tangible assets

4

377,500

372,715

Other financial assets

25,517

25,019

 

403,017

397,734

Current assets

 

Debtors

5

-

17,000

Investments

6

3,065

3,065

Cash at bank and in hand

 

40,403

21,835

 

43,468

41,900

Creditors: Amounts falling due within one year

7

(27,587)

(427,628)

Net current assets/(liabilities)

 

15,881

(385,728)

Total assets less current liabilities

 

418,898

12,006

Creditors: Amounts falling due after more than one year

7

(365,000)

-

Net assets

 

53,898

12,006

capital and reserves

 

Called up share capital

8

4

4

Revaluation reserve

17,160

12,375

Profit and loss account

36,734

(373)

Shareholders' funds

 

53,898

12,006

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 May 2025
 

.........................................
Mr Paul Winston
Director

 

Fair Rose Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

These financial statements were authorised for issue by the director on 23 May 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current 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.

 

Fair Rose Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Investment property

maintained at market value

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Borrowings

 

Fair Rose Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 December 2023

372,715

372,715

Revaluations

4,785

4,785

At 30 November 2024

377,500

377,500

Depreciation

Carrying amount

At 30 November 2024

377,500

377,500

At 30 November 2023

372,715

372,715

Included within the net book value of land and buildings above is £55,785 (2023 - £51,000) in respect of freehold land and buildings and £321,715 (2023 - £321,715) in respect of long leasehold land and buildings.
 

 

Fair Rose Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Debtors

Current

2024
£

2023
£

Other debtors

-

17,000

 

-

17,000

6

Current asset investments

2024
£

2023
£

Other investments

3,065

3,065

 

Fair Rose Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

27,586

266,458

Other creditors

 

1

161,170

 

27,587

427,628

Due after one year

 

Loans and borrowings

10

225,000

-

Other non-current financial liabilities

 

140,000

-

 

365,000

-

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

225,000

-

Other non-current financial liabilities

 

140,000

-

 

365,000

-

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary P of £1 each

1

1

1

1

Ordinary S of £1 each

1

1

1

1

Ordinary G of £1 each

1

1

1

1

Ordinary E of £1 each

1

1

1

1

4

4

4

4

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

Fair Rose Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

4,785

4,785

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

225,000

-

Current loans and borrowings

2024
£

2023
£

Other borrowings

27,586

266,458

11

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £5,000.00 (2023 - £Nil) per each Ordinary P

5,000

-

Interim dividend of £5,000.00 (2023 - £Nil) per each Ordinary S

5,000

-

Interim dividend of £Nil per each Ordinary G

-

-

Interim dividend of £11,000.00 (2023 - £Nil) per each Ordinary E

11,000

-

21,000

-

12

Related party transactions

Summary of transactions with other related parties

Paul Winston Ltd The companies are related by reason of common control and ownership.
During the year funds were advanced by Paul Winston Ltd. At the balance sheet date the company owed Paul Winston Ltd £140,000 (2023 £161,170).