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Company No: 12838636 (England and Wales)

FAIRFIELD COUNTRY REST HOME LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

FAIRFIELD COUNTRY REST HOME LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

FAIRFIELD COUNTRY REST HOME LIMITED

BALANCE SHEET

As at 31 March 2025
FAIRFIELD COUNTRY REST HOME LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 2,386,503 2,428,905
2,386,503 2,428,905
Current assets
Debtors 4 852,843 872,226
Cash at bank and in hand 56,449 57,806
909,292 930,032
Creditors: amounts falling due within one year 5 ( 808,429) ( 817,552)
Net current assets 100,863 112,480
Total assets less current liabilities 2,487,366 2,541,385
Creditors: amounts falling due after more than one year 6 ( 630,727) ( 678,122)
Provision for liabilities ( 13,024) ( 13,728)
Net assets 1,843,615 1,849,535
Capital and reserves
Called-up share capital 7 100 100
Share premium account 1,604,511 1,604,511
Profit and loss account 239,004 244,924
Total shareholders' funds 1,843,615 1,849,535

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

Directors' responsibilities:

The financial statements of Fairfield Country Rest Home Limited (registered number: 12838636) were approved and authorised for issue by the Board of Directors on 11 August 2025. They were signed on its behalf by:

Mr S Pantling
Director
FAIRFIELD COUNTRY REST HOME LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
FAIRFIELD COUNTRY REST HOME LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
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 year, unless otherwise stated.

General information and basis of accounting

Fairfield Country Rest Home Limited (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 Fairfield Country Rest Home Launcells, Nr Bude, Cornwall, EX23 9NH, 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 £.

Turnover

Turnover is stated net of trade discounts and is recognised as services are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 50 years straight line
not depreciated
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 42 43

3. Tangible assets

Land and buildings Plant and machinery Vehicles Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2024 2,500,000 44,430 11,500 8,211 2,564,141
Additions 0 8,781 0 0 8,781
At 31 March 2025 2,500,000 53,211 11,500 8,211 2,572,922
Accumulated depreciation
At 01 April 2024 127,137 4,568 2,108 1,423 135,236
Charge for the financial year 39,637 8,310 1,878 1,358 51,183
At 31 March 2025 166,774 12,878 3,986 2,781 186,419
Net book value
At 31 March 2025 2,333,226 40,333 7,514 5,430 2,386,503
At 31 March 2024 2,372,863 39,862 9,392 6,788 2,428,905

4. Debtors

2025 2024
£ £
Prepayments 2,843 2,955
Other debtors 850,000 869,271
852,843 872,226

5. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 48,349 48,130
Taxation and social security 98,570 110,745
Other creditors 661,510 658,677
808,429 817,552

6. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans (secured) 630,727 678,122

Bank loans are secured by way of fixed and floating charges held over all property and undertaking of the company.

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
22 Ordinary A shares of £ 1.00 each 22 22
22 Ordinary B shares of £ 1.00 each 22 22
25 Ordinary C shares of £ 1.00 each 25 25
25 Ordinary D shares of £ 1.00 each 25 25
6 Ordinary E shares of £ 1.00 each 6 6
100 100

8. Related party transactions

Other related party transactions

2025 2024
£ £
Loan to related party 850,000 850,000

During the year, the company was owed £850,000 (2024: £850,000) by Ace Invest Ltd, a company under common control. The loan is non interest bearing and is repayable on demand.