FISHNET_BUILDINGS_LTD - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Fishnet Buildings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3a Chestnut House, Farm Close, Shenley, Hertfordshire, England, WD7 9AD.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company continues to receive financial support from its directors and creditors. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Turnover represents amounts receivable net of VAT in respect of rents and the sale of land and buildings. Turnover for the sale of land and buildings is recognised upon exchange of contracts becoming unconditional.

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

The average monthly number of persons (including directors) employed by the company during the year was:

The bank loans are secured by way of fixed and floating charges over the properties held by the company as work in progress.

The loans have been guaranteed by the directors.