Fairfax Securities Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01764542

FAIRFAX SECURITIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2026

FAIRFAX SECURITIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2026

	2026		2025
Note	£	£	£

FIXED ASSETS

Tangible assets	5		3,150,000	3,350,698

CURRENT ASSETS

Debtors	6	107,536	104,341
Cash at bank and in hand		372,967	321,492
		---------	---------
		480,503	425,833

CREDITORS: amounts falling due within one year	7	( 172,070)		( 189,006)
		---------		---------
NET CURRENT ASSETS			308,433	236,827
			------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES			3,458,433	3,587,525

CREDITORS: amounts falling due after more than one year	8	( 1,381,519)	( 1,583,947)
		------------	------------
NET ASSETS		2,076,914	2,003,578
		------------	------------

CAPITAL AND RESERVES

Called up share capital		18,000	18,000
Profit and loss account	9	2,058,914	1,985,578
		------------	------------
SHAREHOLDERS FUNDS		2,076,914	2,003,578
		------------	------------

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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

FAIRFAX SECURITIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 12 August 2026 , and are signed on behalf of the board by:

G. W. Forster

Director

Company registration number: 01764542

FAIRFAX SECURITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2026

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Brackenridge Hanson Tate, 31 The Calls, Leeds, LS1 7EY.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises rents received, excluding Value Added Tax.

Income tax

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

Tangible assets

Tangible assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and Fittings	-	15% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, creditors and preference shares. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Preference shares contain an obligation to deliver cash to the owner and hence are recognised as a financial liability. Any losses arising from impairment are recognised in the profit and loss account before operating profit

4. TAX ON PROFIT

Major components of tax expense

	2026	2025
	£	£

Current tax:

UK current tax expense	32,379	14,368
Adjustments in respect of prior periods	( 77)	–
	--------	--------
Total current tax	32,302	14,368
	--------	--------
	--------	--------
Tax on profit	32,302	14,368
	--------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2025: lower than) the standard rate of corporation tax in the UK of 25 % (2025: 25 %).

	2026	2025
	£	£
Profit on ordinary activities before taxation	105,638	68,248
	---------	--------
Profit on ordinary activities by rate of tax	26,410	17,062
Adjustment to tax charge in respect of prior periods	( 77)	–
Effect of expenses not deductible for tax purposes	7,648	–
Effect of capital allowances and depreciation	26	31
Effect of marginal rate relief	( 1,705)	( 2,725)
	---------	--------
Tax on profit	32,302	14,368
	---------	--------

5. TANGIBLE ASSETS

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2025	3,350,000	5,511	3,355,511
Disposals	( 200,000)	( 5,511)	( 205,511)
	------------	-------	------------
At 31 March 2026	3,150,000	–	3,150,000
	------------	-------	------------
Depreciation
At 1 April 2025	–	4,813	4,813
Charge for the year	–	105	105
Disposals	–	( 4,918)	( 4,918)
	------------	-------	------------
At 31 March 2026	–	–	–
	------------	-------	------------
Carrying amount
At 31 March 2026	3,150,000	–	3,150,000
	------------	-------	------------
At 31 March 2025	3,350,000	698	3,350,698
	------------	-------	------------

The market value of investment properties held as at 31st March 2026 has been calculated by a director who holds the MRICS qualification. The properties have been valued at 'open market value' in accordance with the Practice Statements in the RICS Appraisal and Valuation Standards published by the Royal Institution of Chartered Surveyors.

6. DEBTORS

	2026	2025
	£	£
Trade debtors	19,039	18,087
Other debtors	88,497	86,254
	---------	---------
	107,536	104,341
	---------	---------

7. CREDITORS: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	1,222	2,606
Corporation tax	32,379	14,368
Social security and other taxes	28,031	29,748
Other creditors	110,438	142,284
	---------	---------
	172,070	189,006
	---------	---------

8. CREDITORS: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	1,349,519	1,551,947
Other creditors	32,000	32,000
	------------	------------
	1,381,519	1,583,947
	------------	------------

9. RESERVES

Included in retained earnings as at 31 March 2026 are £519,309 of unrealised losses (2025 - £602,067 unrealised losses) relating to investment property fair value adjustments. Realised profits available for distribution therefore total £2,578,223 as at 31 March 2026 (2025 - £2,587,645).