Fairfield House Limited 07959469 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is Other holiday and other collective accommodation Digita Accounts Production Advanced 6.30.9574.0 true true 07959469 2024-02-01 2025-01-31 07959469 2025-01-31 07959469 bus:OrdinaryShareClass1 2025-01-31 07959469 core:CurrentFinancialInstruments 2025-01-31 07959469 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 07959469 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 07959469 core:FurnitureFittingsToolsEquipment 2025-01-31 07959469 core:LandBuildings 2025-01-31 07959469 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2025-01-31 07959469 core:ParentEntities 2025-01-31 07959469 bus:SmallEntities 2024-02-01 2025-01-31 07959469 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 07959469 bus:FilletedAccounts 2024-02-01 2025-01-31 07959469 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 07959469 bus:RegisteredOffice 2024-02-01 2025-01-31 07959469 bus:Director1 2024-02-01 2025-01-31 07959469 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 07959469 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 07959469 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 07959469 core:LandBuildings 2024-02-01 2025-01-31 07959469 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-02-01 2025-01-31 07959469 core:ParentEntities 2024-02-01 2025-01-31 07959469 countries:England 2024-02-01 2025-01-31 07959469 2024-01-31 07959469 core:FurnitureFittingsToolsEquipment 2024-01-31 07959469 core:LandBuildings 2024-01-31 07959469 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-01-31 07959469 core:ParentEntities 2024-01-31 07959469 2023-02-01 2024-01-31 07959469 2024-01-31 07959469 bus:OrdinaryShareClass1 2024-01-31 07959469 core:CurrentFinancialInstruments 2024-01-31 07959469 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 07959469 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 07959469 core:FurnitureFittingsToolsEquipment 2024-01-31 07959469 core:LandBuildings 2024-01-31 07959469 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-01-31 07959469 core:ParentEntities 2024-01-31 07959469 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-01 2024-01-31 07959469 core:ParentEntities 2023-02-01 2024-01-31 07959469 2023-01-31 07959469 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-31 07959469 core:ParentEntities 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07959469

Fairfield House Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Fairfield House Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Fairfield House Limited

(Registration number: 07959469)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

614,075

618,927

Current assets

 

Debtors

6

1,945

1,946

Cash at bank and in hand

 

8,622

6,467

 

10,567

8,413

Creditors: Amounts falling due within one year

7

(34,920)

(26,439)

Net current liabilities

 

(24,353)

(18,026)

Total assets less current liabilities

 

589,722

600,901

Creditors: Amounts falling due after more than one year

7

(598,572)

(572,814)

Provisions for liabilities

(6,270)

(7,483)

Net (liabilities)/assets

 

(15,120)

20,604

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(15,122)

20,602

Shareholders' (deficit)/funds

 

(15,120)

20,604

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

 

Fairfield House Limited

(Registration number: 07959469)
Balance Sheet as at 31 January 2025

.........................................
Mr Daniel Bahmanizad
Director

 

Fairfield House Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
3 Hickstead Rise
Newton Aycliffe
County Durham
DL5 4TP
England

These financial statements were authorised for issue by the Board 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 deferred 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.

 

Fairfield House Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

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

 

Fairfield House Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

 

Fairfield House Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

588,997

284,780

873,777

At 31 January 2025

588,997

284,780

873,777

Depreciation

At 1 February 2024

-

251,848

251,848

Charge for the year

-

7,854

7,854

At 31 January 2025

-

259,702

259,702

Carrying amount

At 31 January 2025

588,997

25,078

614,075

At 31 January 2024

588,997

29,930

618,927

Included within the net book value of land and buildings above is £588,997 (2024 - £588,997) in respect of freehold land and buildings.
 

5

Stocks

2025
£

2024
£

6

Debtors

Current

2025
£

2024
£

Prepayments

1,945

1,946

 

1,945

1,946

 

Fairfield House Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

10

10

Trade creditors

 

2,812

4,241

Taxation and social security

 

3,625

4,862

Accruals and deferred income

 

1,673

1,673

Other creditors

 

26,800

15,653

 

34,920

26,439

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

598,572

572,814

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

10

10

10

Related party transactions

Loans from related parties

 

Fairfield House Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

2025

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

529,068

39,000

568,068

Advanced

-

46,000

46,000

Repaid

(15,497)

-

(15,497)

At end of period

513,571

85,000

598,571

2024

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

532,694

20,000

552,694

Advanced

-

19,000

19,000

Repaid

(3,626)

-

(3,626)

At end of period

529,068

39,000

568,068