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REGISTERED NUMBER: 06293373 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

BLACKFAIR DEVELOPMENTS LIMITED

BLACKFAIR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06293373)






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


BLACKFAIR DEVELOPMENTS LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2023







DIRECTOR: Brett Darren Hesse





SECRETARY: Alexandra Hera Fitzpatrick





REGISTERED OFFICE: Dalton House
60 Windsor Avenue
London
SW19 2RR





REGISTERED NUMBER: 06293373 (England and Wales)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

BLACKFAIR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06293373)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,503 3,969
Investment property 5 805,249 2,253,542
808,752 2,257,511

CURRENT ASSETS
Cash at bank 36,879 33,000

CREDITORS
Amounts falling due within one year 6 231,207 513,915
NET CURRENT LIABILITIES (194,328 ) (480,915 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,424

1,776,596

CREDITORS
Amounts falling due after more than one
year

7

(11,958

)

(841,553

)

PROVISIONS FOR LIABILITIES (53,773 ) (165,490 )
NET ASSETS 548,693 769,553

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 306,228 705,510
Retained earnings 242,365 63,943
SHAREHOLDERS' FUNDS 548,693 769,553

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 director acknowledges his 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.

BLACKFAIR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06293373)

BALANCE SHEET - continued
30 June 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 February 2024 and were signed by:





Brett Darren Hesse - Director


BLACKFAIR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06293373)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

Blackfair Developments 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.

2. ACCOUNTING POLICIES

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

The company is being supported by the Directors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on reducing balance

No depreciation has been charged on the properties as, in the opinion of the director, there has been no diminution in value. However in line with FRS 102 the investment properties have been revalued in the financial year ended 30th June 2020.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

BLACKFAIR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06293373)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 16,950 1,707 18,657
DEPRECIATION
At 1 July 2022 13,439 1,249 14,688
Charge for year 351 115 466
At 30 June 2023 13,790 1,364 15,154
NET BOOK VALUE
At 30 June 2023 3,160 343 3,503
At 30 June 2022 3,511 458 3,969

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 2,253,542
Additions 14,989
Disposals (1,463,282 )
At 30 June 2023 805,249
NET BOOK VALUE
At 30 June 2023 805,249
At 30 June 2022 2,253,542

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2019 445,249
Valuation in 2020 360,000
805,249

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 445,249 1,361,897

Investment property was valued on an open market basis on 18 July 2020 by Tempocasa & Savills .

BLACKFAIR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06293373)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,747 4,631
Trade creditors 870 -
Other creditors 225,590 509,284
231,207 513,915

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 11,958 16,703
Other creditors - 824,850
11,958 841,553

Amounts falling due in more than five years:

Repayable otherwise than by instalments
CHL mortgages - 824,850

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
CHL mortgages - 824,850

Capital Home Loans Limited held charges over the property mortgaged and a floating charge over all other property and rights of the company.

9. RESERVES
Revaluation
reserve
£   
At 1 July 2022 705,510
Deferred tax movement 111,718
Transfer (511,000 )

At 30 June 2023 306,228