Fairtown Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

-

7,929

Investment property

5

2,405,141

2,405,141

2,405,141

2,413,070

CURRENT ASSETS

Debtors

6

104,410

76,224

Cash at bank

85,958

75,174

190,368

151,398

CREDITORS

Amounts falling due within one year

7

2,250,653

2,262,931

NET CURRENT LIABILITIES

(2,060,285

)

(2,111,533

)

TOTAL ASSETS LESS CURRENT LIABILITIES

344,856

301,537

PROVISIONS FOR LIABILITIES

20,644

22,151

NET ASSETS

324,212

279,386

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

323,212

278,386

324,212

279,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

Mrs R Hoddinott - Director

1.	STATUTORY INFORMATION

Fairtown Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10236985

Registered office:

1 Barnfield Crescent

Exeter

Devon

EX1 1QT

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The accounts have been prepared on a going concern basis. The directors have confirmed there is sufficient funding to enable the company to continue trading for at least one year from the date of the approval of these accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

61,204

DEPRECIATION

At 1 April 2024

53,275

Charge for year

7,929

At 31 March 2025

61,204

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

7,929

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,405,141

NET BOOK VALUE

At 31 March 2025

2,405,141

At 31 March 2024

2,405,141

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

15,411

20,288

Other debtors

88,999

55,936

104,410

76,224

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

535,000

535,000

Trade creditors

14,161

3,502

Taxation and social security

18,597

16,649

Other creditors

1,682,895

1,707,780

2,250,653

2,262,931

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

535,000

535,000

9.	RELATED PARTY DISCLOSURES

As at 31 March 2025, included in other creditors are loans from the directors and shareholders totalling £1,643,686 (2024: £1,679,736). The loans are unsecured, repayable on demand and subject to interest.