Feltwell Developments Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09037983 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Feltwell Developments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mrs K Hayklan

J R Taylor

REGISTERED OFFICE:

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

REGISTERED NUMBER:

09037983 (England and Wales)

ACCOUNTANTS:

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

CURRENT ASSETS

Stocks

360,088

247,124

Debtors

5

172,338

101,700

Cash at bank and in hand

1,181

1,532

533,607

350,356

CREDITORS

Amounts falling due within one year

6

8,878

9,496

NET CURRENT ASSETS

524,729

340,860

TOTAL ASSETS LESS CURRENT LIABILITIES

524,729

340,860

CREDITORS

Amounts falling due after more than one year

7

535,000

350,000

NET LIABILITIES

(10,271

)

(9,140

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(10,371

)

(9,240

)

SHAREHOLDERS' FUNDS

(10,271

)

(9,140

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

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 13 March 2023 and were signed on its behalf by:

Mrs K Hayklan - Director

1.	STATUTORY INFORMATION

Feltwell 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The funding for the company is by way of a shareholder's loan for which a commitment has been made not to seek repayment within the foreseeable future. The directors are confident that the company will trade out of its current position and therefore consider it necessary and appropriate to prepare the accounts on a going concern basis.

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

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2021

and 31 March 2022

634

1,265

1,899

DEPRECIATION

At 1 April 2021

and 31 March 2022

634

1,265

1,899

NET BOOK VALUE

At 31 March 2022

-

-

-

At 31 March 2021

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Amounts owed by group undertakings

97,338

101,700

Other debtors

75,000

-

172,338

101,700

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

1,080

1,441

Other creditors

-

257

Directors' current accounts

6,358

6,358

Accrued expenses

1,440

1,440

8,878

9,496

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Other creditors

535,000

350,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

100

Ordinary

£1

100

100

9.	GOING CONCERN

The funding for the company is by way of a shareholder's loan for which a commitment has been made not to seek repayment within the foreseeable future. The directors are confident that the company will trade out of its current position and therefore consider it necessary and appropriate to prepare the accounts on a going concern basis.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Feltwell Developments Ltd for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Feltwell Developments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Feltwell Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Feltwell Developments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Feltwell Developments Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Feltwell Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Feltwell Developments Ltd. You consider that Feltwell Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Feltwell Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

We draw attention to note 1 of the financial statements stating that the accounts have been compiled on a going concern basis notwithstanding that the company has a deficiency of shareholders' funds.

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

13 March 2023