REGISTERED NUMBER: 06903054 (England and Wales)

C & L FAIRBURN PROPERTY DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Fairburn

Mrs L M Fairburn

SECRETARY:

Mrs L M Fairburn

REGISTERED OFFICE:

1 Eastgate

Louth

Lincolnshire

LN11 9NB

REGISTERED NUMBER:

06903054 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Louth)

Chartered Certified Accountants

1 Eastgate

Louth

Lincolnshire

LN11 9NB

FIXED ASSETS

Tangible assets

3

1,187,245

1,415,962

Investments

4

349,499

769,492

Investment property

5

3,139,152

2,288,019

4,675,896

4,473,473

CURRENT ASSETS

Stocks

3,114,754

4,742,937

Debtors

6,184

21,490

Cash at bank

427,666

177,149

3,548,604

4,941,576

CREDITORS

Amounts falling due within one year

2,307,870

4,090,779

NET CURRENT ASSETS

1,240,734

850,797

TOTAL ASSETS LESS CURRENT LIABILITIES

5,916,630

5,324,270

CREDITORS

Amounts falling due after more than one year

(2,033,273

)

(1,804,447

)

PROVISIONS FOR LIABILITIES

8

(219,972

)

(335,695

)

NET ASSETS

3,663,385

3,184,128

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

71,076

71,076

Fair value reserve

244,651

244,651

Retained earnings

3,347,558

2,868,301

SHAREHOLDERS' FUNDS

3,663,385

3,184,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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 Balance Sheet for the year ended 30 June 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2025 and were signed on its behalf by:

C J Fairburn - Director

1.	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.

Turnover

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

Income from the sale of property is recognised upon completion of the sale, when the risks and rewards of the property have been passed on. Any amounts received in advance are treated as deferred income until completion,

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Helicopter

-

10% on cost

Computer equipment

-

Straight line over 3 years

Investment property

Investment property is shown at fair value at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement, before a reserve transfer is made to move it to the fair value reserve, which is undistributable.

Stock and work in progress

Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 July 2024

2,238,131

Additions

85,306

Disposals

(87,263

)

At 30 June 2025

2,236,174

DEPRECIATION

At 1 July 2024

822,169

Charge for year

256,879

Eliminated on disposal

(30,119

)

At 30 June 2025

1,048,929

NET BOOK VALUE

At 30 June 2025

1,187,245

At 30 June 2024

1,415,962

In the year to 30 June 2024, the directors, Mr & Mrs Fairburn chose to revalue the helicopter to its open market value at that date of £700,000, this increased its value by £94,768.

Cost or valuation at 30 June 2025 is represented by:

Totals

£

Valuation in 2021

12,452

Valuation in 2024

82,316

Cost

2,141,406

2,236,174

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

2025

2024

£

£

Cost

806,440

806,440

Aggregate depreciation

281,853

201,209

The helicopter was valued on an open market basis on 30 June 2025 by the directors, Mr & Mrs Fairburn .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 July 2024

1,503,107

Additions

67,295

Disposals

(87,263

)

Transfer to ownership

(83,020

)

At 30 June 2025

1,400,119

DEPRECIATION

At 1 July 2024

435,595

Charge for year

144,072

Eliminated on disposal

(30,119

)

Transfer to ownership

(60,059

)

At 30 June 2025

489,489

NET BOOK VALUE

At 30 June 2025

910,630

At 30 June 2024

1,067,512

4.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Cost/valuation

769,492

197,423

Additions

-

769,492

Disposals

(419,993

)

(197,423

)

349,499

769,492

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2024

2,288,019

Additions

851,133

At 30 June 2025

3,139,152

NET BOOK VALUE

At 30 June 2025

3,139,152

At 30 June 2024

2,288,019

Fair value at 30 June 2025 is represented by:

£

Valuation in 2015

21,337

Valuation in 2013

49,208

Valuation in 2020

151,905

Valuation in 2023

92,615

Cost

2,824,087

3,139,152

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

2025

2024

£

£

Cost

2,824,088

1,972,954

The investment properties were valued on an open market basis on 30 June 2025 by the Directors, Mr & Mrs Fairburn .

6.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

138,371

326,067

Between one and five years

348,319

862,812

486,690

1,188,879

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,936,190

1,053,424

The bank have taken security on the outstanding loans by way of a charge against various freehold properties owned by the Company.

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

125,867

241,590

Revaluation gain

94,105

94,105

219,972

335,695

Deferred

tax

£

Balance at 1 July 2024

335,695

Accelerated capital allowances

(115,723

)

Balance at 30 June 2025

219,972