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REGISTERED NUMBER: 05139728 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

J C Fairs Management Limited

J C Fairs Management Limited (Registered number: 05139728)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J C Fairs Management Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr J Fairs





SECRETARY: Mrs L A Parker





REGISTERED OFFICE: 1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS





REGISTERED NUMBER: 05139728 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

J C Fairs Management Limited (Registered number: 05139728)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,951 2,601

CURRENT ASSETS
Debtors 5 447,198 210,940
Cash at bank 404,254 33,773
851,452 244,713
CREDITORS
Amounts falling due within one year 6 211,881 35,411
NET CURRENT ASSETS 639,571 209,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

641,522

211,903

CREDITORS
Amounts falling due after more than one
year

7

(23,397

)

(32,668

)

PROVISIONS FOR LIABILITIES (488 ) (650 )
NET ASSETS 617,637 178,585

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 616,637 177,585
SHAREHOLDERS' FUNDS 617,637 178,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

J C Fairs Management Limited (Registered number: 05139728)

Balance Sheet - continued
29 February 2024


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





Mr J Fairs - Director


J C Fairs Management Limited (Registered number: 05139728)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

J C Fairs Management 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.

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

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 3,119 5,247 8,366
DEPRECIATION
At 1 March 2023 2,230 3,535 5,765
Charge for year 222 428 650
At 29 February 2024 2,452 3,963 6,415
NET BOOK VALUE
At 29 February 2024 667 1,284 1,951
At 28 February 2023 889 1,712 2,601

J C Fairs Management Limited (Registered number: 05139728)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,832 -
Other debtors 146,162 154,475
Directors' current accounts 287,469 54,391
VAT - 1,747
Prepayments 10,735 327
447,198 210,940

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,915 9,913
Trade creditors 574 90
Tax 159,813 12,347
VAT 27,523 -
Accrued expenses 14,056 13,061
211,881 35,411

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,902 11,900
Bank loans - 2-5 years 11,495 20,768
23,397 32,668

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
950 Ordinary A £1 950 950
50 Ordinary B £1 50 50
1,000 1,000

J C Fairs Management Limited (Registered number: 05139728)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr J Fairs
Balance outstanding at start of year 54,391 172,409
Amounts advanced 311,309 86,188
Amounts repaid (78,231 ) (204,206 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 287,469 54,391

The director's loan account was repaid within nine months of the year end. Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest during the year being 2% per annum up to 5th April 2023 and at 2.25% thereafter.

10. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided to companies with common directors amounted to £146,162 (2023: £159,829).