| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 12158706) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Rutland House |
| 90-92 Baxter Avenue |
| Southend on Sea |
| Essex |
| SS2 6HZ |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 12158706) |
| ABRIDGED BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Investments |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Revaluation reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 12158706) |
| ABRIDGED BALANCE SHEET - continued |
| 31 DECEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 12158706) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Fairfield Investment Properties Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Rental income and recharges represents net invoiced rental of property, excluding value added tax and is recognised in the period to which it relates. |
| Development sales represents income from property development, excluding discounts, rebates, retentions, value added tax and other sales tax and is recognised when the development sale is complete. |
| Tangible fixed assets |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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. |
| Investments |
| Listed investments are measured at their fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account. |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 12158706) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| Additions | 6,564 |
| At 31 December 2024 | 6,564 |
| NET BOOK VALUE |
| At 31 December 2024 | 6,564 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2024 |
| Disposals | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 12158706) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 8. | SECURED DEBTS |
| The company has given a fixed charge over two of its investment properties, known as Units 3 and 4 - Cabinet Way, and Flat 10 Oak Lodge, in support of the amounts owed to M A K Styles (a director). The charge encompasses all amounts owed to M A K Styles, which at the balance sheet date totalled £1,293,621 (2023 - £5,301,800). |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 10. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2024 |
| Fair value movement | 280,964 |
| At 31 December 2024 |
| 11. | CONTINGENT LIABILITIES |
| Fairfield Limited and its subsidiaries (Fairfield Real Estate Limited and Fairfield Investment Properties Limited) have jointly entered into a VAT group and a corporation tax group payment arrangement. Fairfield Investment Properties Limited is the representative member for both taxes. Members of the VAT group are jointly and severally liable for the debts of any party within it, whilst members of the corporation tax group only implicitly bear financial obligations of their associates. |
| The tax grouping arrangements were undertaken to ease the administrative burden of all parties involved. Other than the timing of payments, it is estimated there is no financial effect (positive or negative) to any party and in the unlikely event one party found itself bearing the cost of another it is anticipated the loss would be reimbursed accordingly. |
| 12. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the company owed £26,394,235 (2023 - owed £25,535,848) to other group companies. |
| 13. | ULTIMATE PARENT COMPANY |
| The company's ultimate parent undertaking at the balance sheet was Fairfield Limited, a company incorporated in England. The company's registered address is the same as Fairfield Investment Properties Limited and can be found on the company information page. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| FAIRFIELD INVESTMENT PROPERTIES LIMITED |
| 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 Fairfield Investment Properties Limited for the year ended 31 December 2024 which comprise the Income Statement, Abridged Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Fairfield Investment Properties Limited, 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 Fairfield Investment Properties Limited and state those matters that we have agreed to state to the Board of Directors of Fairfield Investment Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fairfield Investment Properties Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Fairfield Investment Properties Limited 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 Fairfield Investment Properties Limited. You consider that Fairfield Investment Properties Limited 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 Fairfield Investment Properties Limited. 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. |
| Chartered Accountants |
| Rutland House |
| 90-92 Baxter Avenue |
| Southend on Sea |
| Essex |
| SS2 6HZ |