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Company No: 01941984 (England and Wales)

# FAIRHURST ESTATES PROPERTIES LIMITED

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

FAIRHURST ESTATES PROPERTIES LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

FAIRHURST ESTATES PROPERTIES LIMITED

## COMPANY INFORMATION

For the financial year ended 31 March 2025
FAIRHURST ESTATES PROPERTIES LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025

DIRECTOR | Genevieve Mather

REGISTERED OFFICE | Estate Office
| Shawdene
| Newbury
| RG14 3AJ
| United Kingdom

COMPANY NUMBER | 01941984 (England and Wales)

FAIRHURST ESTATES PROPERTIES LIMITED

## BALANCE SHEET

As at 31 March 2025
FAIRHURST ESTATES PROPERTIES LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 163,181 |  | 180,408
Investment property | 4 | 24,699,017 |  | 24,607,242
Investments | 5 | 912 |  | 913
|  | 24,863,110 |  | 24,788,563
Current assets |  |  |  |
Debtors | 6 | 5,277,835 |  | 4,953,018
Cash at bank and in hand |  | 61,307 |  | 147,637
|  | 5,339,142 |  | 5,100,655
Creditors: amounts falling due within one year | 7 | ( 3,493,840) |  | ( 3,691,184)
Net current assets |  | 1,845,302 |  | 1,409,471
Total assets less current liabilities |  | 26,708,412 |  | 26,198,034
Creditors: amounts falling due after more than one year | 8 | ( 4,556,088) |  | ( 4,197,462)
Provision for liabilities |  | ( 432,655) |  | ( 411,858)
Net assets |  | 21,719,669 |  | 21,588,714
Capital and reserves |  |  |  |
Called-up share capital |  | 14,698,104 |  | 14,698,104
Fair value reserve |  | 4,296,583 |  | 4,229,852
Profit and loss account |  | 2,724,982 |  | 2,660,758
Total shareholder's funds |  | 21,719,669 |  | 21,588,714

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.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Fairhurst Estates Properties Limited (registered number: 01941984) were approved and authorised for issue by the Director on 21 November 2025. They were signed on its behalf by:

Genevieve Mather Director |

FAIRHURST ESTATES PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
FAIRHURST ESTATES PROPERTIES 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

Fairhurst Estates Properties 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 Estate Office, Shawdene, Newbury, RG14 3AJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified 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 £.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

##### Turnover

Turnover comprises rental income. Rental income is recognised in the income statement over the period to which it relates and is recorded at the fair value of consideration received or receivable, net of VAT where applicable.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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

##### Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

##### Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings | 50 years straight line
Plant and machinery | 5 years straight line
Vehicles | 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

##### Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit or loss.

##### Fixed asset investments

Interest in subsidiaries, is initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

##### 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 current liabilities.

##### Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

##### Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including the director | 4 |  | 3

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2024 | 111,241 |  | 101,224 |  | 0 |  | 212,465
Additions | 0 |  | 1,133 |  | 2,900 |  | 4,033
At 31 March 2025 | 111,241 |  | 102,357 |  | 2,900 |  | 216,498
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2024 | 371 |  | 31,686 |  | 0 |  | 32,057
Charge for the financial year | 2,225 |  | 18,503 |  | 532 |  | 21,260
At 31 March 2025 | 2,596 |  | 50,189 |  | 532 |  | 53,317
Net book value |  |  |  |  |  |  |
At 31 March 2025 | 108,645 |  | 52,168 |  | 2,368 |  | 163,181
At 31 March 2024 | 110,870 |  | 69,538 |  | 0 |  | 180,408

#### 4. Investment property

| Investment property
| £
Fair Value |
As at 01 April 2024 | 24,607,242
Additions | 2,800
Fair value movement | 88,975
As at 31 March 2025 | 24,699,017

The investment properties were valued on 31 March 2025 by the directors. The historical cost of the properties is £19,978,755 (2024 - £19,975,944).

#### 5. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 April 2024 | 913
At 31 March 2025 | 913
Provisions for impairment |
At 01 April 2024 | 0
Impairment | 1
At 31 March 2025 | 1
Carrying value at 31 March 2025 | 912
Carrying value at 31 March 2024 | 913

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 6,041 |  | 34,492
Amounts owed by group undertakings (note 9) | 5,263,355 |  | 4,867,260
Prepayments | 8,439 |  | 9,623
VAT recoverable | 0 |  | 41,204
Other debtors | 0 |  | 439
| 5,277,835 |  | 4,953,018

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 82,779 |  | 37,084
Corporation tax | 25,158 |  | 0
Other taxation and social security | 25,710 |  | 762
Other creditors | 3,360,193 |  | 3,653,338
| 3,493,840 |  | 3,691,184

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans and overdrafts | 4,556,088 |  | 4,197,462

Bank loans |  |  |
| 2025 |  | 2024
| £ |  | £
Between one and two years | 0 |  | 0
Between two and five years | 0 |  | 0
After five years | 4,556,088 |  | 4,197,462
| 4,556,088 |  | 4,197,462

#### 9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

| 2025 |  | 2024
| £ |  | £
Advances | 0 |  | 4,097,747
Expenses settled | 396,095 |  | 92,681

At the balance sheet date the amount due from Fairhurst Estates Properties SARL was £5,263,355 (2024: £4,867,260).

Transactions with the entity's director

| 2025 |  | 2024
| £ |  | £
Advances | 0 |  | 1,887,000
Repayments | (140,000) |  | (1,936,147)
Recharges | (123,283) |  | 0
Expenses settled | (22,880) |  | (14,075)

At the balance sheet date the amount due to the entity's director was £485,242 (2024: £771,404).

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Net expenses settled (by) / on behalf of Mrs Mather's 2018 Family Settlement | (21,137) |  | 11,144
Net cash paid to Mrs Mather's 2018 Family Settlement | 0 |  | 18,298
Net expenses settled on behalf of Mrs Mather's 2018 Voluntary Settlement | 1,200 |  | 6,120
Net cash paid to Mrs Mather's 2018 Voluntary Settlement | 13,000 |  | 0

At the balance sheet date the amount due to Mrs Mather's Voluntary Settlement was £2,797,636 (2024: £2,811,836).
At the balance sheet date the amount due from Mrs Mather's Family Settlement was £20,698 (2024: £439 due to).

#### 10. Loans and overdraft

Non - current loans and borrowings

| 2025 |  | 2024
| £ |  | £
Bank loans | 4,556,088 |  | 4,197,462

The bank loan is secured on the assets of the company. The security has been provided through a charge over the company's freehold property and through a guarantee provided by the directors.
The loan is repayable in full after 6 years.

| 2025 |  | 2024
| £ |  | £
Payable within one year | 0 |  | 0
Payable after one year | 4,556,088 |  | 4,197,462

The long-term loans are secured against assets owned by the company.