Company registration number 03971070 (England and Wales)
FAIRLINE ESTATES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
FAIRLINE ESTATES LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
FAIRLINE ESTATES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
6
1,506
2,008
Investment property
7
10,209,843
10,126,491
10,211,349
10,128,499
Current assets
Debtors
8
8,664,121
6,739,242
Cash at bank and in hand
38,959
671,689
8,703,080
7,410,931
Creditors: amounts falling due within one year
9
(6,169,764)
(4,888,950)
Net current assets
2,533,316
2,521,981
Total assets less current liabilities
12,744,665
12,650,480
Provisions for liabilities
(1,702,569)
(1,708,732)
Net assets
11,042,096
10,941,748
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
10
11,042,094
10,941,746
Total equity
11,042,096
10,941,748

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 January 2026 and are signed on its behalf by:
Mr Berish Berger
Mrs Pessie Berger
Director
Director
Company registration number 03971070 (England and Wales)
FAIRLINE ESTATES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023
2
8,244,792
8,244,794
Year ended 31 March 2024:
Profit and total comprehensive income
-
2,696,954
2,696,954
Balance at 31 March 2024
2
10,941,746
10,941,748
Year ended 31 March 2025:
Profit and total comprehensive income
-
100,348
100,348
Balance at 31 March 2025
2
11,042,094
11,042,096
FAIRLINE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Fairline Estates LImited is a private company limited by shares incorporated in England and Wales. The registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover is recognised at the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable. Rental income is accounted for on an accruals basis with increases arising from rent reviews being taken into account when such reviews have been settled with tenants.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Fixtures, fittings & equipment
25% reducing balance basis

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.

1.4
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 a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed 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.

FAIRLINE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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.

1.7
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 and cash and bank balances, 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.

Classification of financial liabilities

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.

FAIRLINE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
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 paymen ts 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. A m ounts 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.

1.8
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.

1.9
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 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.

FAIRLINE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

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

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.14

Acquisitions and disposals of property

Acquisitions and disposals of property are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
6
4
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
160,000
120,000
FAIRLINE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
5
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
5,731
91,394
Adjustments in respect of prior periods
(91,394)
-
0
Group tax relief
-
0
33,290
Total current tax
(85,663)
124,684
Deferred tax
Fair value adjustments to investment property
(6,163)
98,770
Total tax (credit)/charge
(91,826)
223,454
6
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
8,461
Depreciation and impairment
At 1 April 2024
6,453
Depreciation charged in the year
502
At 31 March 2025
6,955
Carrying amount
At 31 March 2025
1,506
At 31 March 2024
2,008
7
Investment property
2025
£
Fair value
At 1 April 2024
10,126,491
Additions
114,758
Disposals
(31,406)
At 31 March 2025
10,209,843
FAIRLINE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
7
Investment property
(Continued)
- 8 -

Investment property comprises of a portfolio of residential properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30th March, 2025 by the Company's directors who are considered to have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
3,399,568
3,291,565
Accumulated depreciation
-
-
Carrying amount
3,399,568
3,291,565
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
121,634
177,029
Amounts owed by group undertakings
1,828,563
1,796,208
Other debtors
6,713,924
4,766,005
8,664,121
6,739,242

Other debtors includes £6,487,166 (20 24: £4,512,132) owed by connected undertakings which are interest free and repayable on demand. These are companies of which the directors and their families are directors and/or shareholders.

9
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
750,000
592,445
Trade creditors
-
0
2,370
Amounts owed to group undertakings
4,215,944
3,713,468
Corporation tax
5,731
91,394
Other taxation and social security
9,317
9,330
Other creditors
1,188,772
479,943
6,169,764
4,888,950

The bank loans bear interest at a fixed margin over Base Rate and are secured by first legal charges over a number of the company's investment properties.

FAIRLINE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
9
Creditors: amounts falling due within one year
(Continued)
- 9 -

Other creditors includes £1,066,021 (20 24: £390,021) owed to connected undertakings which are interest free and repayable on demand. These are companies of which the directors and their families are directors and/or shareholders.

10
Profit and loss reserves

Of the profit and loss account reserves, £5,934,388 is distributable, the remaining £5,107,706 not being distributable as it is not realised.

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Moshe Broner-Cohen
Statutory Auditor:
Cohen Arnold
Date of audit report:
14 January 2026
12
Financial commitments, guarantees and contingent liabilities

The company has charged a number of its investment properties, as third party security, for mortgages granted to companies under the control of family members of the directors. The amount outstanding at the Balance Sheet date amounted to circa £1M.

14
Parent company

The following are t he parents of the largest and smallest groups in which this company's results are consolidated:

Largest group
Tabletop London Limited
Smallest group
Tabletop London Limited

The registered office address of Tabletop London Limited is New Burlington House, 1075 Finchley Road, London NW11 0PU.

2025-03-31 2024-04-01 false false false 14 January 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr Berish Berger Mrs Pessie Berger Mrs Pessie Berger 03971070 2024-04-01 2025-03-31 03971070 2025-03-31 03971070 2024-03-31 03971070 core:OtherPropertyPlantEquipment 2025-03-31 03971070 core:OtherPropertyPlantEquipment 2024-03-31 03971070 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 03971070 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03971070 core:CurrentFinancialInstruments 2025-03-31 03971070 core:CurrentFinancialInstruments 2024-03-31 03971070 core:ShareCapital 2025-03-31 03971070 core:ShareCapital 2024-03-31 03971070 core:RetainedEarningsAccumulatedLosses 2025-03-31 03971070 core:RetainedEarningsAccumulatedLosses 2024-03-31 03971070 core:ShareCapital 2023-03-31 03971070 core:RetainedEarningsAccumulatedLosses 2023-03-31 03971070 bus:Director1 2024-04-01 2025-03-31 03971070 bus:CompanySecretaryDirector1 2024-04-01 2025-03-31 03971070 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03971070 2023-04-01 2024-03-31 03971070 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 03971070 core:FurnitureFittings 2024-04-01 2025-03-31 03971070 core:UKTax 2024-04-01 2025-03-31 03971070 core:UKTax 2023-04-01 2024-03-31 03971070 core:OtherPropertyPlantEquipment 2024-03-31 03971070 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 03971070 2024-03-31 03971070 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03971070 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03971070 bus:FRS102 2024-04-01 2025-03-31 03971070 bus:Audited 2024-04-01 2025-03-31 03971070 bus:Director2 2024-04-01 2025-03-31 03971070 bus:CompanySecretary1 2024-04-01 2025-03-31 03971070 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP