Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Claire Rebecca Foster 29/09/2022 Joanne Emily Foster 29/09/2022 Margaret Foster 29/09/2022 Michael Foster 29/09/2022 Patricia Madeleine Foster 20/06/2024 29/09/2022 Paul Michael Foster 29/09/2022 Richard Ian Foster 20/06/2024 29/09/2022 James Arthur Hardwick 20/06/2024 29/09/2022 Jane Spicer Freeman 29/09/2022 25 June 2025 The principal activity of the Company during the financial year was investment in property. 14385316 2024-09-30 14385316 bus:Director1 2024-09-30 14385316 bus:Director2 2024-09-30 14385316 bus:Director3 2024-09-30 14385316 bus:Director4 2024-09-30 14385316 bus:Director5 2024-09-30 14385316 bus:Director6 2024-09-30 14385316 bus:Director7 2024-09-30 14385316 bus:Director8 2024-09-30 14385316 bus:Director9 2024-09-30 14385316 2023-09-30 14385316 core:CurrentFinancialInstruments 2024-09-30 14385316 core:CurrentFinancialInstruments 2023-09-30 14385316 core:ShareCapital 2024-09-30 14385316 core:ShareCapital 2023-09-30 14385316 core:RetainedEarningsAccumulatedLosses 2024-09-30 14385316 core:RetainedEarningsAccumulatedLosses 2023-09-30 14385316 2023-10-01 2024-09-30 14385316 bus:FilletedAccounts 2023-10-01 2024-09-30 14385316 bus:SmallEntities 2023-10-01 2024-09-30 14385316 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 14385316 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 14385316 bus:Director1 2023-10-01 2024-09-30 14385316 bus:Director2 2023-10-01 2024-09-30 14385316 bus:Director3 2023-10-01 2024-09-30 14385316 bus:Director4 2023-10-01 2024-09-30 14385316 bus:Director5 2023-10-01 2024-09-30 14385316 bus:Director6 2023-10-01 2024-09-30 14385316 bus:Director7 2023-10-01 2024-09-30 14385316 bus:Director8 2023-10-01 2024-09-30 14385316 bus:Director9 2023-10-01 2024-09-30 14385316 2022-09-29 2023-09-30 iso4217:GBP xbrli:pure

Company No: 14385316 (England and Wales)

FAIRFIELD PARK LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

FAIRFIELD PARK LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

FAIRFIELD PARK LTD

BALANCE SHEET

As at 30 September 2024
FAIRFIELD PARK LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Investment property 3 6,284,000 6,284,000
6,284,000 6,284,000
Current assets
Debtors 4 17,339 3,973
Cash at bank and in hand 167,373 96,125
184,712 100,098
Creditors: amounts falling due within one year 5 ( 5,820,451) ( 6,086,769)
Net current liabilities (5,635,739) (5,986,671)
Total assets less current liabilities 648,261 297,329
Net assets 648,261 297,329
Capital and reserves
Called-up share capital 99,500 99,500
Profit and loss account 548,761 197,829
Total shareholders' funds 648,261 297,329

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Fairfield Park Ltd (registered number: 14385316) were approved and authorised for issue by the Board of Directors on 25 June 2025. They were signed on its behalf by:

Claire Rebecca Foster
Director
FAIRFIELD PARK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
FAIRFIELD PARK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Fairfield Park Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hoppins Farm, Southerton, Ottery St. Mary, EX11 1SD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The company has net current liabilities of
£5,635,739 at the year end. Included within creditors are amounts of £5,665,587 which are owed to the company's
directors. The directors will not seek repayment of the loans for at least 12 months to the extent that any such
repayment would jeopardise the future of the company and therefore the directors consider that the going concern
basis is appropriate.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
30.09.2024
Period from
29.09.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 9

3. Investment property

Investment property
£
Valuation
As at 01 October 2023 6,284,000
As at 30 September 2024 6,284,000

Valuation

There has been no valuation of investment property by an independent valuer.

4. Debtors

30.09.2024 30.09.2023
£ £
Other debtors 17,339 3,973

5. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Trade creditors 0 1,194
Taxation and social security 148,129 86,467
Other creditors 5,672,322 5,999,108
5,820,451 6,086,769

6. Related party transactions

Transactions with the entity's directors

S Hardwick
At 01 October 2023 the balance owed from the directors was £nil. During the year, the company made advances to directors amounting to £6,552 and received repayments of £nil leaving a balance due from the directors of £6,552. (either overdrawn balance or £nil)

At 01 October 2022 the balance owed from the directors was £nil. During the year, the company made no advances to directors and received no repayments leaving a balance due from the directors of £nil.

T Blackwell
At 01 October 2023 the balance owed from the directors was £nil. During the year, the company made advances to directors amounting to £6,552 and received repayments of £nil leaving a balance due from the directors of £6,552. (either overdrawn balance or £nil)

At 01 October 2022 the balance owed from the directors was £nil. During the year, the company made no advances to directors and received no repayments leaving a balance due from the directors of £nil.

The Directors loan accounts are repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 at the official HMRC rates.