Froyle Park Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07685513 (England and Wales)

Froyle Park Estates Limited

Unaudited Financial Statements for the Year Ended 31 December 2018

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Investments

4

3

2

Investment property

5

2,038,529

3,699,334

2,038,532

3,699,336

CURRENT ASSETS

Debtors

6

1,438,117

1,025,701

Cash at bank

29,249

15,644

1,467,366

1,041,345

CREDITORS

Amounts falling due within one year

7

606,910

1,491,198

NET CURRENT ASSETS/(LIABILITIES)

860,456

(449,853

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,898,988

3,249,483

CREDITORS

Amounts falling due after more than one year

8

(1,557,958

)

(2,395,930

)

PROVISIONS FOR LIABILITIES

(41,189

)

(46,372

)

NET ASSETS

1,299,841

807,181

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

328,752

561,297

Retained earnings

970,989

245,784

1,299,841

807,181

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2018 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.

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 director on 30 September 2019 and were signed by:

Mr D Robbins - Director

1.	STATUTORY INFORMATION

Froyle Park Estates Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

07685513

Registered office:

Harbour House

60 Purewell

Christchurch

BH23 1ES

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Froyle Park Estates Limited as an individual Company and

do not contain consolidated financial information as the parent of a group. The Company is exempt under

Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial

statements.

Turnover

The turnover shown in the financial statements represents rents receivable during the year, inclusive of value

added tax.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 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.

Going concern

These financial statements have been prepared on a going concern basis as the directors company have

confirmed that, if required, funds will be made available to meet liabilities as they fall due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

2

Additions

1

At 31 December 2018

3

NET BOOK VALUE

At 31 December 2018

3

At 31 December 2017

2

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

3,699,334

Additions

193,303

Disposals

(1,871,490

)

Revaluations

17,382

At 31 December 2018

2,038,529

NET BOOK VALUE

At 31 December 2018

2,038,529

At 31 December 2017

3,699,334

The directors have valued investment property at £2,593,442, the value attributable to Froyle Park Estates

Limited is £2,038,529. This has been considered having reviewed the valuation performed by Savills in July

2018 and post year end sales. Savills, an independent chartered surveyor valued the property at open market

value. If investment property had not been revalued it would have been included at its historical cost,

£1,668,588.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

624

Group and participating interests

1,433,672

1,021,234

Other debtors

4,445

3,843

1,438,117

1,025,701

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

38,644

49,022

Trade creditors

11,680

13,816

Group and participating interests

519,457

1,406,100

Taxation and social security

16,384

-

Other creditors

20,745

22,260

606,910

1,491,198

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

1,557,958

2,395,930

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

1,596,602

2,444,952

The company's bank loan facility forms part of a joint borrowing with a number of other companies and the

ultimate controlling party, under the control of Mr N J Roach. The parties to this facility have given a joint

guarantee in respect of the total borrowing, which amounted to £15,121,500 as at 31 December 2018.