| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| FAIRFIELD PROPERTY LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| FAIRFIELD PROPERTY LIMITED |
| FAIRFIELD PROPERTY LIMITED (REGISTERED NUMBER: 10244085) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 30 June 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FAIRFIELD PROPERTY LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 30 June 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Business Advisors & Accountants |
| Equinox House |
| Clifton Park, Shipton Road |
| York |
| Yorkshire |
| YO30 5PA |
| FAIRFIELD PROPERTY LIMITED (REGISTERED NUMBER: 10244085) |
| BALANCE SHEET |
| 30 June 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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 were approved by the Board of Directors and authorised for issue on |
| FAIRFIELD PROPERTY LIMITED (REGISTERED NUMBER: 10244085) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 30 June 2024 |
| 1. | STATUTORY INFORMATION |
| Fairfield Property Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is recognised at the fair value of the consideration received or receivable for consultancy services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover also represents interest receivable on commercial loans made for property development. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors and loans from fellow group companies, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| 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. |
| Equity instruments |
| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
| FAIRFIELD PROPERTY LIMITED (REGISTERED NUMBER: 10244085) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 30 June 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | FIXED ASSET INVESTMENTS |
| Interest |
| in joint |
| venture |
| £ |
| COST |
| At 1 July 2023 |
| and 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 7. | RELATED PARTY DISCLOSURES |
| Included in 'Other creditors' as at the balance sheet date is an amount of £565,784 (2023 : £641,572) owed to companies associated with the director. |
| 8. | ULTIMATE CONTROLLING PARTY |
| The company is wholly owned subsidiary of Fairfield Property Holdings Limited, a company registered in England and Wales, which is the immediate and ultimate parent undertaking, Fairfield Property Holdings Limited is not required to prepare group accounts. |