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REGISTERED NUMBER: 10053008 (England and Wales)












L J FAIRBURN DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






L J FAIRBURN DEVELOPMENTS LTD (REGISTERED NUMBER: 10053008)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


L J FAIRBURN DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D J Fairburn
Mrs J Fairburn





REGISTERED OFFICE: Rollestone House
20-22 Bridge Street
Horncastle
Lincolnshire
LN9 5HZ





REGISTERED NUMBER: 10053008 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
Rollestone House
20-22 Bridge Street
Horncastle
Lincolnshire
LN9 5HZ

L J FAIRBURN DEVELOPMENTS LTD (REGISTERED NUMBER: 10053008)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 45,751 43,864
Cash at bank and in hand 558 4,299
46,309 48,163
CREDITORS
Amounts falling due within one year 25,615 26,478
NET CURRENT ASSETS 20,694 21,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,694

21,685

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 20,594 21,585
SHAREHOLDERS' FUNDS 20,694 21,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





D J Fairburn - Director


L J FAIRBURN DEVELOPMENTS LTD (REGISTERED NUMBER: 10053008)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

L J Fairburn Developments Ltd 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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 31,795
AMORTISATION
At 1 January 2023
and 31 December 2023 31,795
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

L J FAIRBURN DEVELOPMENTS LTD (REGISTERED NUMBER: 10053008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other debtors 8,268 6,912

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
D J Fairburn
Balance outstanding at start of year 8,565 8,905
Amounts advanced - 12,070
Amounts repaid (25,916 ) (12,410 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,351 ) 8,565

Mrs S L Fairburn
Balance outstanding at start of year 11,916 11,891
Amounts advanced - 12,070
Amounts repaid (11,916 ) (12,045 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 11,916

Mrs J Fairburn
Balance outstanding at start of year - 275
Amounts repaid - (275 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Loans to directors were unsecured, interest free and had no repayment terms.