FAIRFAX ASSET MANAGEMENT LTD

Company Registration Number:
11011492 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2025

Period of accounts

Start date: 01 November 2024

End date: 31 October 2025

FAIRFAX ASSET MANAGEMENT LTD

Contents of the Financial Statements

for the Period Ended 31 October 2025

Balance sheet
Notes

FAIRFAX ASSET MANAGEMENT LTD

Balance sheet

As at 31 October 2025


Notes
2025
2024


£
£
Fixed assets
Tangible assets: 3 227 279
Investments: 4 271,000 282,000
Total fixed assets: 271,227 282,279
Current assets
Debtors:   858 858
Cash at bank and in hand: 29 488
Total current assets: 887 1,346
Creditors: amounts falling due within one year: 5 (422,155) (206,698)
Net current assets (liabilities): (421,268) (205,352)
Total assets less current liabilities: (150,041) 76,927
Creditors: amounts falling due after more than one year: 6   (224,973)
Total net assets (liabilities): (150,041) (148,046)
Capital and reserves
Called up share capital: 2 2
Profit and loss account: (150,043) (148,048)
Shareholders funds: (150,041) (148,046)

The notes form part of these financial statements

FAIRFAX ASSET MANAGEMENT LTD

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 August 2026
and signed on behalf of the board by:

Name: Nicholas Vradis
Status: Director

The notes form part of these financial statements

FAIRFAX ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2025

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents rental income receivable from the company's investment property.

Tangible fixed assets and depreciation policy

Fixtures, fittings and equipment are depreciated on a straight-line basis at 20% per year.

Valuation and information policy

Investment property is measured at fair value, with changes in fair value recognised in profit or loss. Fair value at 31 October 2025 was estimated by the directors at £271,000 using available lender valuation and market evidence. No independent professionally qualified valuation was obtained.

Other accounting policies

The accounts have been prepared on a basis other than going concern because the company sold its remaining investment property after the reporting date and ceased trading on 4 March 2026. Assets are stated at the directors' best estimate of recoverable amounts and liabilities at estimated settlement amounts. No material closure costs were identified at the reporting date.

FAIRFAX ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2025

2. Employees

2025 2024
Average number of employees during the period 0 0

FAIRFAX ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2025

3. Tangible Assets

Total
Cost £
At 01 November 2024 27,449
At 31 October 2025 27,449
Depreciation
At 01 November 2024 27,170
Charge for year 52
At 31 October 2025 27,222
Net book value
At 31 October 2025 227
At 31 October 2024 279

FAIRFAX ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2025

4. Fixed investments

Investment property Fair value at 1 November 2024: £282,000 Fair value reduction during the year: £11,000 Fair value at 31 October 2025: £271,000 The property was purchased in November 2018 for £275,000 before directly attributable acquisition costs. The directors estimated the year-end fair value using lender valuation and market evidence. No independent professionally qualified valuation was obtained.

FAIRFAX ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2025

5. Creditors: amounts falling due within one year note

Creditors falling due within one year: Nicholas Vradis director's loan: 2025 £181,366; 2024 £186,909 Christopher Vradis director's loan: 2025 £18,239; 2024 £16,539 Mortgage and bank loans: 2025 £221,924; 2024 £1,109 Other creditors: 2025 £626; 2024 £626 Accruals: 2025 £0; 2024 £1,515 Total creditors falling due within one year: 2025 £422,155; 2024 £206,698

FAIRFAX ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2025

6. Creditors: amounts falling due after more than one year note

Bank loans falling due after more than one year: 2025: £0 2024: £224,973

FAIRFAX ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2025

7. Related party transactions

Name of the related party: N. Vradis
Relationship:
Director
Description of the Transaction: The director's loan account opened at £186,909. Net cash repayments during the year were £7,058 and accountancy costs of £1,515 were paid personally on behalf of the company. The closing balance owed to the director was £181,366. The loan was interest-free, unsecured and repayable on demand.
£
Balance at 01 November 2024 186,909
Balance at 31 October 2025 181,366
Name of the related party: N. Vradis
Relationship:
Director
Description of the Transaction: The director's loan account opened at £186,909. Net cash repayments during the year were £7,058 and accountancy costs of £1,515 were paid personally on behalf of the company. The closing balance owed to the director was £181,366. The loan was interest-free, unsecured and repayable on demand.
£
Balance at 01 November 2024 186,909
Balance at 31 October 2025 181,366
Name of the related party: N. Vradis
Relationship:
Director
Description of the Transaction: The director's loan account opened at £186,909. Net cash repayments during the year were £7,058 and accountancy costs of £1,515 were paid personally on behalf of the company. The closing balance owed to the director was £181,366. The loan was interest-free, unsecured and repayable on demand. The director's loan account opened at £16,539. The director advanced £1,700 during the year. The closing balance owed to the director was £18,239. The loan was interest-free, unsecured and repayable on demand.
£
Balance at 01 November 2024 203,448
Balance at 31 October 2025 199,605

FAIRFAX ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2025

8. Post balance sheet events

The lender valuation, market conditions and £271,000 offer accepted in December 2025 were considered when determining the property's fair value at 31 October 2025. The investment property was sold on 3 March 2026 for £271,000. The mortgage was redeemed for £219,526.97 and net sale proceeds after legal fees, estate-agent commission and other completion costs were £42,813.27. The company ceased trading on 4 March 2026. Completion of the sale and cessation of trading were non-adjusting events after the reporting period.