Fairfax Ventures Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13068551

Fairfax Ventures Limited

Unaudited financial statements

31 March 2025

Fairfax Ventures Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	3,613,000	4,878,286
Investments	6	3,564,664	3,570,496
		-----------	-----------
		7,177,664	8,448,782

Current assets

Debtors	7	178,813	411,410
Cash at bank and in hand		3,138,196	2,230,862
		-----------	-----------
		3,317,009	2,642,272

Creditors: Amounts falling due within one year	8	( 21,502)		( 25,657)
		-----------		-----------
Net current assets			3,295,507		2,616,615
			------------		------------
Total assets less current liabilities			10,473,171		11,065,397

Provisions

Taxation including deferred tax	77,396	( 240,750)
	------------	------------
Net assets	10,550,567	10,824,647
	------------	------------

Capital and reserves

Called up share capital	4,945,000	4,945,000
Revaluation reserve	890,785	722,250
Profit and loss account	4,714,782	5,157,397
	------------	------------
Shareholders funds	10,550,567	10,824,647
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Fairfax Ventures Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 6 October 2025 , and are signed on behalf of the board by:

B J Skoulding

Director

Company registration number: 13068551

Fairfax Ventures Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Marwick House, Station Road, March, Cambridgeshire, PE15 8XA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of employees during the year was 6 (2024: 6 ).

5. Tangible assets

	Investment properties
	£
Cost or valuation
At 1 April 2024	4,878,286
Revaluations	( 1,265,286)
	-----------
At 31 March 2025	3,613,000
	-----------
Depreciation
At 1 April 2024 and 31 March 2025	–
	-----------
Carrying amount
At 31 March 2025	3,613,000
	-----------
At 31 March 2024	4,878,286
	-----------

The company's investment properties were measured at fair value, based on an open market by the directors, at 31 March 2025.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment properties
	£
At 31 March 2025
Aggregate cost	3,915,286
Aggregate depreciation	(267,545)
	-----------
Carrying value	3,647,741
	-----------

At 31 March 2024
Aggregate cost	3,915,286
Aggregate depreciation	(189,239)
	-----------
Carrying value	3,726,047
	-----------

6. Investments

	Shares in group undertakings	Investments	Total
	£	£	£
Cost
At 1 April 2024	2,627,379	943,117	3,570,496
Disposals	–	( 5,832)	( 5,832)
	-----------	---------	-----------
At 31 March 2025	2,627,379	937,285	3,564,664
	-----------	---------	-----------
Impairment
At 1 April 2024 and 31 March 2025	–	–	–
	-----------	---------	-----------

Carrying amount
At 31 March 2025	2,627,379	937,285	3,564,664
	-----------	---------	-----------
At 31 March 2024	2,627,379	943,117	3,570,496
	-----------	---------	-----------

7. Debtors

	2025	2024
	£	£
Trade debtors	2,731	3,390
Amounts owed by group undertakings and undertakings in which the company has a participating interest	153,655	303,655
Other debtors	22,427	104,365
	---------	---------
	178,813	411,410
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Trade creditors	514	8,857
Social security and other taxes	6,608	7,727
Other creditors	14,380	9,073
	-------	-------
	21,502	25,657
	-------	-------