Company registration number 03383859 (England and Wales)
FAIRPORT (INVESTMENTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
FAIRPORT (INVESTMENTS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 12
FAIRPORT (INVESTMENTS) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
8
26,730
32,437
Investment property
9
8,137,067
8,487,909
8,163,797
8,520,346
Current assets
Debtors
10
59,102
73,084
Cash at bank and in hand
8,698
140,487
67,800
213,571
Creditors: amounts falling due within one year
11
(146,286)
(180,424)
Net current (liabilities)/assets
(78,486)
33,147
Total assets less current liabilities
8,085,311
8,553,493
Provisions for liabilities
Deferred tax liability
12
1,026,411
1,126,054
(1,026,411)
(1,126,054)
Net assets
7,058,900
7,427,439
Capital and reserves
Called up share capital
13
111
111
Profit and loss reserves
14
7,058,789
7,427,328
Total equity
7,058,900
7,427,439

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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 the provisions of FRS 102 Section 1A - Small entities.

FAIRPORT (INVESTMENTS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2025
31 October 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 March 2026 and are signed on its behalf by:
Mr S C Taylor
Director
Company registration number 03383859 (England and Wales)
FAIRPORT (INVESTMENTS) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 November 2023
111
8,147,898
8,148,009
Year ended 31 October 2024:
Loss and total comprehensive income
-
(130,570)
(130,570)
Dividends
-
(590,000)
(590,000)
Balance at 31 October 2024
111
7,427,328
7,427,439
Year ended 31 October 2025:
Loss and total comprehensive income
-
(38,539)
(38,539)
Dividends
-
(330,000)
(330,000)
Balance at 31 October 2025
111
7,058,789
7,058,900
FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 4 -
1
Accounting policies
Company information

Fairport (Investments) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 86 Hatton Garden, London, EC1N 8QQ.

1.1
Accounting convention

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.

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 investment properties measured at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue is primarily derived from the leasing of the company's investment property to a number of commercial and residential tenants.

Rental revenue is recognised on the accruals basis at amounts set out in leases. Where a rent free period is part of a lease agreement, the total income to be generated from the agreement is recognised on a straight line basis over the period of the lease. Service charge income is similarly recognised on an accruals basis. Revenue is recognised where dilapidations have been charged to a tenant that are not expended in preparing an empty property for its next rental agreement and where there is no requirement to make such expenditure in the future.

1.4
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 and fittings
Rates between 10-20% per annum 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.

1.5
Investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Impairment of fixed assets

Assets, including investments, which are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less cost to sell and value in use.

1.7
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.

1.8
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 balance sheet 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.

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.

1.9
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.

FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 6 -
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 profit and loss account 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 profit and loss account, 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.

1.11
Foreign exchange

Foreign currency transactions are translated into the company's functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominates in foreign currencies are recognised in profit or loss.

Foreign exchange gains and losses that relate to cash and cash equivalents, loans or ongoing debt investments are presented in profit or loss within "interest receivable and similar income".

1.12

Leased assets: Lessor

All the leases entered into by the company are treated as operating leases. Their annual rentals are charged to profit or loss on a straight line basis over the term of the lease.

Incentive payments, typically in the form of rent free periods, to new tenants to occupy the company's investment property are treated as a reduction in revenue and initially recorded as prepayments. The payments are charged to profit or loss over the term of the lease. The underlying investment property is carried at open market value less the amount of the unamortised incentive.

2
Judgements and key sources of estimation uncertainty

In preparing these financial statements, the directors have made the following judgements.

- Determining the fair value of the company's investment property by reference to current market rent and investment property yields for comparable real estate, adjusted if necessary for any difference in nature, location or condition of the specific asset.

- Determining the recoverability of outstanding rents from tenants. Factors taken into consideration by management include the length of time the rent is overdue, the responsiveness of the tenant and the perception of the tenants' ability and will to settle the debt.

FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 7 -
3
Turnover
2025
2024
£
£
Turnover analysed by class of business
Rents receivable - furnished residential property
200,487
184,749
Rents receivable - commercial property
472,133
468,237
Service charges receivable - commercial property
65,333
40,188
Other services to tenants
5,683
5,070
743,636
698,244
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Review of annual financial statements
14,000
4,450
Depreciation of owned tangible fixed assets
8,467
6,415
5
Employees

The Company does not employ staff and does not remunerate its management or directors. The costs of services performed on behalf of the Company by I.D.C (Holdings) Limited, a company that is related by virtue of common shareholders and directors, are recharged by that entity and are disclosed within note 18.

6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank
-
0
7,656
HMRC interest
-
0
562
Total interest revenue
-
0
8,218
Other income from investments
Exchange differences
15
(20)
Total income
15
8,198
FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 8 -
7
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
65,891
79,770
Deferred tax
Origination and reversal of timing differences
(99,643)
(120,370)
Total tax credit
(33,752)
(40,600)

The actual credit for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(72,291)
(171,170)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(18,073)
(42,793)
Tax effect of expenses that are not deductible in determining taxable profit
175
1,799
Difference between depreciation and capital allowances
1,365
(3,752)
Under/(over) provided in prior years
(4,748)
(3,588)
Loss on revaluation of investment property not taxable
87,711
125,150
Deferred tax charge
(99,643)
(120,370)
Other adjustments
(539)
2,954
Taxation credit for the year
(33,752)
(40,600)
FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 9 -
8
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 November 2024
142,944
Additions
2,760
At 31 October 2025
145,704
Depreciation and impairment
At 1 November 2024
110,507
Depreciation charged in the year
8,467
At 31 October 2025
118,974
Carrying amount
At 31 October 2025
26,730
At 31 October 2024
32,437
9
Investment property
2025
£
Fair value
At 1 November 2024
8,487,909
Net gains or losses through fair value adjustments
(350,000)
Adjustment for rent straight lining
(842)
At 31 October 2025
8,137,067

The investment property was valued at 31 October 2025 by the directors on the basis of its open market value for existing use. The historic cost of the investment property was £2,187,762 (2024: £2,187,762), this would also have been the carrying value under historic cost accounting rules as no depreciation or impairments have been recognised.

As at 1 November 2024, the investment property was valued at £8,487,909, which included a downward adjustment of £12,091 to reflect the rent-free period. For the year ended 31 October 2025, the property was revalued downward by £350,000, with a further adjustment of £842 also made in respect of the rent-free reduction.

10
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
6,573
16,809
Other debtors
6,311
13,700
Prepayments and accrued income
33,285
30,484
46,169
60,993
FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
10
Debtors
(Continued)
- 10 -
2025
2024
Amounts falling due after more than one year:
£
£
Rent free
12,933
12,091
Total debtors
59,102
73,084
11
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
4,236
3,316
Amounts owed to a related party
4,041
107
Corporation tax
70,638
83,358
Accruals and deferred income
67,371
93,643
146,286
180,424
12
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Cumulative fair value adjustment of investment property
1,026,411
1,126,054
2025
Movements in the year:
£
Liability at 1 November 2024
1,126,054
Credit to profit or loss
(99,643)
Liability at 31 October 2025
1,026,411

The deferred taxation liability relates to the current calculation of the UK Corporation Tax due on the gain in the value in the Company's investment property (see note 11), this has been calculated at the rate of 25% (2024: 25%) which was the UK tax rate substantially enacted at the reporting date. The company has no unused tax losses or credits.

FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 11 -
13
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
10,000 Ordinary shares of 1p each
10,000
10,000
100
100
1,111 'A' Ordinary shares of 1p each
1,111
1,111
11
11
11,111
11,111
111
111
14
Reserves

The profit and loss account represents cumulative profits or losses, net of dividends paid and other adjustments. Included in the retained profit and loss account are £4,922,895 (2024: 5,174,093) of profits net of assosciated deferred taxation which are not available for distribution as they are unrealised.

15
Operating lease receivable

At the reporting end date the company had minimum lease receivables under non-cancellable operating leases in relation to its investment property as set out below:

2025
2024
£
£
Within one year
526,098
441,036
Between two and five years
157,007
268,337
683,105
709,373
FAIRPORT (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 12 -
16
Related party transactions

There is no ultimate controlling party of Fairport (Investments) Limited.

The Company entered into the following arrangements with I.D.C (Holdings) Limited, a company related due to shareholders and directors being common to both entities.

i) Included within creditors due within one year is £4,041 due to I.D.C (Holdings) Limited (2024 - £107 due to I.D.C (Holdings) Limited)

ii) That part of the freehold land and buildings occupied by I.D.C (Holdings) Limited was leased back at an annual rental of £95,000 (2024 - £95,000) under a lease that expired in April 2024. As at the balance sheet date, the lease had not been formally renewed and was holding over at an unchanged rent until the company vacated its office on 31 January 2026.

Under the agreement, service charges were also payable by I.D.C. (Holdings) Limited and in the year ended 31 October 2025 these amounted to £12,658 (2024 - £10,903).

Fibre line rental charges were also payable by I.D.C. (Holdings) Limited and in the year ended 31 October 2025 these amounted to £1,374 (2024: £1,226).

iii) Included in administrative expenses is £136,000 (2024 - £125,650) in management fees paid to I.D.C. (Holdings) Limited.

2025-10-31 2024-11-01 false false false 12 March 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr G C M Leggett Mr S C Taylor Mr D M Cockrell 0 03383859 2024-11-01 2025-10-31 03383859 2025-10-31 03383859 2024-10-31 03383859 core:FurnitureFittings 2025-10-31 03383859 core:FurnitureFittings 2024-10-31 03383859 core:CurrentFinancialInstruments core:WithinOneYear 2025-10-31 03383859 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 03383859 core:CurrentFinancialInstruments 2025-10-31 03383859 core:CurrentFinancialInstruments 2024-10-31 03383859 core:ShareCapital 2025-10-31 03383859 core:ShareCapital 2024-10-31 03383859 core:RetainedEarningsAccumulatedLosses 2025-10-31 03383859 core:RetainedEarningsAccumulatedLosses 2024-10-31 03383859 core:ShareCapital 2023-10-31 03383859 core:RetainedEarningsAccumulatedLosses 2023-10-31 03383859 2023-10-31 03383859 core:ShareCapitalOrdinaryShareClass1 2025-10-31 03383859 core:ShareCapitalOrdinaryShareClass1 2024-10-31 03383859 core:ShareCapitalOrdinaryShareClass2 2025-10-31 03383859 core:ShareCapitalOrdinaryShareClass2 2024-10-31 03383859 core:ShareCapitalOrdinaryShares 2025-10-31 03383859 core:ShareCapitalOrdinaryShares 2024-10-31 03383859 bus:Director2 2024-11-01 2025-10-31 03383859 core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 03383859 2023-11-01 2024-10-31 03383859 core:RetainedEarningsAccumulatedLosses 2024-11-01 2025-10-31 03383859 core:FurnitureFittings 2024-11-01 2025-10-31 03383859 dpl:Item1 2024-11-01 2025-10-31 03383859 dpl:Item1 2023-11-01 2024-10-31 03383859 dpl:Item2 2024-11-01 2025-10-31 03383859 dpl:Item2 2023-11-01 2024-10-31 03383859 dpl:Item3 2024-11-01 2025-10-31 03383859 dpl:Item3 2023-11-01 2024-10-31 03383859 dpl:Item4 2024-11-01 2025-10-31 03383859 dpl:Item4 2023-11-01 2024-10-31 03383859 core:UKTax 2024-11-01 2025-10-31 03383859 core:UKTax 2023-11-01 2024-10-31 03383859 1 2024-11-01 2025-10-31 03383859 1 2023-11-01 2024-10-31 03383859 2 2024-11-01 2025-10-31 03383859 2 2023-11-01 2024-10-31 03383859 3 2024-11-01 2025-10-31 03383859 3 2023-11-01 2024-10-31 03383859 4 2024-11-01 2025-10-31 03383859 4 2023-11-01 2024-10-31 03383859 5 2024-11-01 2025-10-31 03383859 5 2023-11-01 2024-10-31 03383859 core:FurnitureFittings 2024-10-31 03383859 2024-10-31 03383859 core:Non-currentFinancialInstruments 2025-10-31 03383859 core:Non-currentFinancialInstruments 2024-10-31 03383859 bus:OrdinaryShareClass1 2024-11-01 2025-10-31 03383859 bus:OrdinaryShareClass2 2024-11-01 2025-10-31 03383859 bus:OrdinaryShareClass1 2025-10-31 03383859 bus:OrdinaryShareClass1 2024-10-31 03383859 bus:OrdinaryShareClass2 2025-10-31 03383859 bus:OrdinaryShareClass2 2024-10-31 03383859 bus:AllOrdinaryShares 2025-10-31 03383859 bus:AllOrdinaryShares 2024-10-31 03383859 core:WithinOneYear 2025-10-31 03383859 core:WithinOneYear 2024-10-31 03383859 core:BetweenTwoFiveYears 2025-10-31 03383859 core:BetweenTwoFiveYears 2024-10-31 03383859 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 03383859 bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 03383859 bus:FRS102 2024-11-01 2025-10-31 03383859 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-10-31 03383859 bus:Director1 2024-11-01 2025-10-31 03383859 bus:CompanySecretary1 2024-11-01 2025-10-31 03383859 bus:FullAccounts 2024-11-01 2025-10-31 xbrli:pure xbrli:shares iso4217:GBP