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Registration number: 11455501

Fairholm Estates Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 July 2025

Fairholm Estates Ltd

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 9

Fairholm Estates Ltd

Company Information

Director | Mr James Adams

Registered office | 65 Roman Way Bristol, Somerset United Kingdom BS9 1SP

Accountants | UHY Williamson Croft Chartered Certified AccountantsWilliamson Croft Accountants Ltd York House 20 York Street Manchester M2 3BB

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Fairholm Estates Ltd
for the Year Ended 31 July 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fairholm Estates Ltd for the year ended 31 July 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Fairholm Estates Ltd, as a body, in accordance with the terms of our engagement letter dated 1 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of Fairholm Estates Ltd and state those matters that we have agreed to state to the Board of Directors of Fairholm Estates Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fairholm Estates Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fairholm Estates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fairholm Estates Ltd. You consider that Fairholm Estates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Fairholm Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
UHY Williamson Croft
Chartered Certified Accountants
Williamson Croft Accountants Ltd
York House
20 York Street
Manchester
M2 3BB

11 April 2026

Fairholm Estates Ltd

(Registration number: 11455501)
Balance Sheet as at 31 July 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | - | 443
Investment property | 5 | 1,400,000 | 900,000
Unlisted Investments |  | 101 | 101
|  | 1,400,101 | 900,544
Current assets |  |  |
Debtors | 6 | 262,376 | 124,317
Cash at bank and in hand |  | 14,372 | 81,478
|  | 276,748 | 205,795
Creditors: Amounts falling due within one year | 7 | (410,103) | (275,034)
Net current liabilities |  | (133,355) | (69,239)
Total assets less current liabilities |  | 1,266,746 | 831,305
Creditors: Amounts falling due after more than one year | 7 | (966,250) | (619,750)
Provisions for liabilities |  | (74,860) | (46,095)
Net assets |  | 225,636 | 165,460
Capital and reserves |  |  |
Called up share capital | 8 | 4 | 4
Retained earnings |  | 225,632 | 165,456
Shareholders' funds |  | 225,636 | 165,460

For the financial year ending 31 July 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’.

Fairholm Estates Ltd

(Registration number: 11455501)
Balance Sheet as at 31 July 2025

Approved and authorised by the director on 11 April 2026

......................................... Mr James Adams Director

Fairholm Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
65 Roman Way
Bristol, Somerset
United Kingdom
BS9 1SP

These financial statements were authorised for issue by the director on 11 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of rents receivable exclusive of Value Added Tax.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Fairholm Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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 balance sheet 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
Computer equipment | 33% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Fairholm Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 account 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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Fairholm Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 August 2024 | 1,629 | 1,629
At 31 July 2025 | 1,629 | 1,629
Depreciation
At 1 August 2024 | 1,186 | 1,186
Charge for the year | 443 | 443
At 31 July 2025 | 1,629 | 1,629
Carrying amount
At 31 July 2025 | - | -
At 31 July 2024 | 443 | 443

5 | Investment properties

| 2025 £
At 1 August | 900,000
Additions | 442,725
Fair value adjustments | 57,275
At 31 July | 1,400,000

At the year end the director has valued investment properties held by the company at £1,400,000 (2024: £900,000). The valuation is based on market values of similar properties in the surrounding area.
If the investment properties had been accounted under the historic cost accounting rules, the value would be £1,100,562 (2024: £657,836).
There has been no valuation of investment property by an independent valuer.

6 | Debtors

| Note | 2025 £ | 2024 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest |  | 262,376 | -
Other debtors |  | - | 124,317
|  | 262,376 | 124,317

Fairholm Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

7 | Creditors

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 1,138 | 372
Accruals and deferred income | 1,060 | 1,010
Other creditors | 407,905 | 157,504
Owed by/(from) group undertakings | - | 116,148
| 410,103 | 275,034

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 966,250 | 619,750

Included within loans and borrowings greater than one year is a balance of £966,250 (2024: £619,750). This relates to mortgages which are secured by way of a fixed charge against the property to which they relate and a negative pledge.

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A of £0.01 each | 148 | 1 | 148 | 1
Ordinary B of £0.01 each | 148 | 1 | 148 | 1
Ordinary C of £0.01 each | 52 | 1 | 52 | 1
Ordinary D of £0.01 each | 52 | 1 | 52 | 1
| 400 | 4 | 400 | 4