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REGISTERED NUMBER: 04593044 (England and Wales)















Fairlite Properties Limited

Unaudited Financial Statements for the Year Ended 30 June 2023






Fairlite Properties Limited (Registered number: 04593044)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fairlite Properties Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P Farris
S Farris
S R Farris





SECRETARY: S Farris





REGISTERED OFFICE: 3 Southernhay West
Exeter
Devon
EX1 1JG





REGISTERED NUMBER: 04593044 (England and Wales)





ACCOUNTANTS: Haines Watts Accountants (Exeter) Limited
3 Southernhay West
Exeter
Devon
EX1 1JG

Fairlite Properties Limited (Registered number: 04593044)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 5 1,189,858 1,088,573

CURRENT ASSETS
Debtors 6 344 -
Cash at bank 118,905 178,773
119,249 178,773
CREDITORS
Amounts falling due within one year 7 (4,158 ) (38,933 )
NET CURRENT ASSETS 115,091 139,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,304,949

1,228,413

PROVISIONS FOR LIABILITIES (61,124 ) (47,858 )
NET ASSETS 1,243,825 1,180,555

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,242,825 1,179,555
SHAREHOLDERS' FUNDS 1,243,825 1,180,555

Fairlite Properties Limited (Registered number: 04593044)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





P Farris - Director


Fairlite Properties Limited (Registered number: 04593044)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Fairlite Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Other operating income
Finance income relates to dividends received from investments it holds. This is included in the on financial statements on a receivable basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Fairlite Properties Limited (Registered number: 04593044)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. ACCOUNTING POLICIES - continued

Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 July 2022 1,088,573
Additions 61,768
Disposals (36,643 )
Revaluations 76,160
At 30 June 2023 1,189,858
NET BOOK VALUE
At 30 June 2023 1,189,858
At 30 June 2022 1,088,573

The fixed asset investments are held at valuation. The revaluation has been taken from reports provided to the company by the fund manager, Redmayne Bentley. The date of revaluation was 30 June 2023.

The historical cost value of the fixed asset investments is £823,003.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 344 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 4,158 38,933

Fairlite Properties Limited (Registered number: 04593044)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
S Farris
Balance outstanding at start of year (34,656 ) (34,656 )
Amounts advanced 35,441 -
Amounts repaid (441 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 344 (34,656 )

The overdrawn directors loan account balance is interest free and repayable on demand.