Registration number: 08421028

Fairlight Devonshire Limited

Statement of Financial Position as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,210,230	1,228,836
Current assets
Debtors	5	1,448,124	1,560,298
Cash at bank and in hand		109,784	89,983
		1,557,908	1,650,281
Creditors: Amounts falling due within one year	6	(209,639)	(263,982)
Net current assets		1,348,269	1,386,299
Total assets less current liabilities		2,558,499	2,615,135
Creditors: Amounts falling due after more than one year	6	(1,647,106)	(1,683,693)
Provisions for liabilities		(7,520)	(9,671)
Net assets		903,873	921,771
Capital and reserves
Called up share capital		100	100
Retained earnings		903,773	921,671
Shareholders' funds		903,873	921,771

Fairlight Devonshire Limited

Statement of Financial Position as at 30 April 2025

For the financial year ending 30 April 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 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’.

The director of Fairlight Devonshire Limited has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the director on 15 December 2025
 

.........................................

Mr L N Thomas

Director

Company registration number: 08421028

Fairlight Devonshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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:
Commercial House
2/2a Newman Road
Bromley
Kent
BR1 1RJ

The principal activity of the company is that of the provision and management of serviced office accommodation.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net assets at 30 April 2025 of £903,873 including cash at bank of £109,784.

The company has continued to trade profitably subsequent to 30 April 2025 with licence fees being received as due and the director doesn't believe that the company will be adversely affected by current economic conditions or global conflicts.

On the basis of the above and having made enquires the director has reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the director continues to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration for services provided in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises turnover from service office accommodation evenly over the period of the licence to occupy and in respect of ancillary services over the period in which the services are provided.

Fairlight Devonshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Freehold buildings	2% straight line
Furniture fittings and equipment	25% reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Fairlight Devonshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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 income statement 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year was 4 (2024 - 4).

Fairlight Devonshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4	Tangible assets

	Freehold property £	Properties under construction £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 May 2024	1,111,711	183,590	182,127	1,477,428
Additions	-	-	1,402	1,402
At 30 April 2025	1,111,711	183,590	183,529	1,478,830
Depreciation
At 1 May 2024	105,150	-	143,442	248,592
Charge for the year	10,000	-	10,008	20,008
At 30 April 2025	115,150	-	153,450	268,600
Carrying amount
At 30 April 2025	996,561	183,590	30,079	1,210,230
At 30 April 2024	1,006,561	183,590	38,685	1,228,836

5

Debtors

	2025 £	2024 £
Trade debtors	838	28,347
Other debtors	1,447,286	1,531,951
	1,448,124	1,560,298

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Loans and borrowings	7	38,543	45,730
Trade creditors		6,030	1,978
Taxation and social security		29,290	42,883
Accruals and deferred income		3,839	7,431
Other creditors		131,937	165,960
		209,639	263,982