Fordleaf Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 02613515

Fordleaf Limited

Filleted Unaudited Financial Statements

1 April 2020

Fordleaf Limited

Statement of Financial Position

1 April 2020

	1 Apr 20		30 Sep 19
Note	£	£	£

Current assets

Debtors	5	–	333,579
Investments	6	736,050	387,303
Cash at bank and in hand		706,230	723,159
		------------	------------
		1,442,280	1,444,041

Creditors: amounts falling due within one year	7	–		60,380
		------------		------------
Net current assets			1,442,280	1,383,661
			------------	------------
Total assets less current liabilities			1,442,280	1,383,661
			------------	------------
Net assets			1,442,280	1,383,661
			------------	------------

Fordleaf Limited

Statement of Financial Position (continued)

1 April 2020

	1 Apr 20		30 Sep 19
Note	£	£	£

Capital and reserves

Called up share capital	54	54
Revaluation reserve	94,499	31,502
Profit and loss account	1,347,727	1,352,105
	------------	------------
Shareholders funds	1,442,280	1,383,661
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 1 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 3 April 2020 , and are signed on behalf of the board by:

P J M Ellis
Director

Company registration number: 02613515

Fordleaf Limited

Notes to the Financial Statements

Period from 1 October 2019 to 1 April 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 169 Dower Road, Sutton Coldfield, West Midlands, B75 6TB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the Profit and Loss Account represents rents received during the year.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold; Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor vehicles	-	25% reducing balance

No depreciation has been provided on leasehold improvements as the property leased reverts at the end of the lease to the landlord. The lease agreement provides for compensation, at the time of the reversion, by the landlord for all improvements carried out on the premises during the term of the lease. The original lease expired on 31st March 2010 but has been extended.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 1 (2019: 1 ).

5. Debtors

	1 Apr 20	30 Sep 19
	£	£
Other debtors	–	333,579
	----	---------

6. Investments

	1 Apr 20	30 Sep 19
	£	£
Other Investments	736,050	387,303
	---------	---------

7. Creditors: amounts falling due within one year

	1 Apr 20	30 Sep 19
	£	£
Corporation tax	–	16,385
Other creditors	–	43,995
	----	--------
	–	60,380
	----	--------