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Registration number: 10800482

Fairbanks Property Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Fairbanks Property Investments Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Fairbanks Property Investments Ltd

Company Information

Director

Mr Jeffrey Fairbanks

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited 1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Fairbanks Property Investments Ltd

(Registration number: 10800482)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

55

Investment property

6

230,500

225,750

 

230,500

225,805

Current assets

 

Cash at bank and in hand

 

25

25

Creditors: Amounts falling due within one year

8

(42,255)

(41,283)

Net current liabilities

 

(42,230)

(41,258)

Total assets less current liabilities

 

188,270

184,547

Creditors: Amounts falling due after more than one year

8

(287,400)

(279,029)

Provisions for liabilities

(8,724)

(7,821)

Net liabilities

 

(107,854)

(102,303)

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

37,190

33,343

Retained earnings

(145,144)

(135,746)

Shareholders' deficit

 

(107,854)

(102,303)

For the financial year ending 31 October 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 14 July 2025
 

.........................................
Mr Jeffrey Fairbanks
Director

 

Fairbanks Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 14 July 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.

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

Office equipment

25% Straight Line

Investment property

The fair value of the property at 31st October 2022 has been arrived on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer.

 

Fairbanks Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

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 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

55

55

 

Fairbanks Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

220

220

At 31 October 2024

220

220

Depreciation

At 1 November 2023

165

165

Charge for the year

55

55

At 31 October 2024

220

220

Carrying amount

At 31 October 2024

-

-

At 31 October 2023

55

55

6

Investment properties

2024
£

At 1 November

225,750

Fair value adjustments

4,750

At 31 October

230,500

The fair value of the property at 31st October 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £230,500 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

Current

2024
£

2023
£

 

-

-

 

Fairbanks Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

(77)

26

Accruals and deferred income

1,728

1,728

Other creditors

40,604

39,529

42,255

41,283

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

238,160

238,160

Other non-current financial liabilities

 

49,240

40,869

 

287,400

279,029

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

238,160

238,160