Finningley Estates Limited - Accounts to registrar (filleted) - small 18.2
Finningley Estates Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
FOR |
FINNINGLEY ESTATES LIMITED |
FINNINGLEY ESTATES LIMITED (REGISTERED NUMBER: 00352306) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FINNINGLEY ESTATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
FINNINGLEY ESTATES LIMITED (REGISTERED NUMBER: 00352306) |
BALANCE SHEET |
31 MARCH 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Investment revaluation reserve | 8 |
Capital reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
FINNINGLEY ESTATES LIMITED (REGISTERED NUMBER: 00352306) |
BALANCE SHEET - continued |
31 MARCH 2021 |
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 |
FINNINGLEY ESTATES LIMITED (REGISTERED NUMBER: 00352306) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
1. | STATUTORY INFORMATION |
Finningley Estates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Office equipment | - |
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. |
Turnover |
Turnover consists of income from the letting of residential properties in the United Kingdom. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
FINNINGLEY ESTATES LIMITED (REGISTERED NUMBER: 00352306) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
DEPRECIATION |
At 1 April 2020 |
and 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
5. | INVESTMENT PROPERTY |
The investment property portfolio was professionally valued on 24 March 2020 by Grice & Hunter chartered surveyors and estate agents, and the revised value is shown on the balance sheet. |
A provision for deferred tax on the revaluation uplift from cost amounting to £187,201 has been made under provisions for liabilities and charges. |
In accordance with FRS102 the valuation movement less the tax provision movement on it is shown via the Income Statement in the year that it arises. A separate reserve is shown within capital and reserves on the balance sheet to show the total accumulated revaluations net of deferred tax to highlight these as non - distributable funds. |
If investment properties had not been revalued they would have been included at a historic cost of £141,888 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Tax |
Other creditors |
Accrued expenses |
FINNINGLEY ESTATES LIMITED (REGISTERED NUMBER: 00352306) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
8. | RESERVES |
Investment |
revaluation |
reserve |
£ |
At 1 April 2020 |
and 31 March 2021 |