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

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

FROYLE PARK ESTATES LIMITED - Company Information

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REGISTERED NUMBER: 07685513 (England and Wales)















Froyle Park Estates Limited

Unaudited Financial Statements for the Year Ended 31 December 2020





Froyle Park Estates Limited (Registered number: 07685513)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Froyle Park Estates Limited (Registered number: 07685513)

Statement of Financial Position
31 December 2020

2020 2019
Notes £    £    £    £   
Fixed assets
Investments 4 3 3
Investment property 5 788,350 788,350
788,353 788,353

Current assets
Debtors 6 1,062,259 1,602,385
Cash at bank 154,807 691
1,217,066 1,603,076
Creditors
Amounts falling due within one year 7 77,136 236,905
Net current assets 1,139,930 1,366,171
Total assets less current liabilities 1,928,283 2,154,524

Creditors
Amounts falling due after more than one year 8 (643,216 ) (857,551 )

Provisions for liabilities (33,549 ) (33,549 )
Net assets 1,251,518 1,263,424

Capital and reserves
Called up share capital 100 100
Fair value reserve 204,217 204,217
Retained earnings 1,047,201 1,059,107
1,251,518 1,263,424

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2020 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 notes form part of these financial statements

Page 1 continued...
Froyle Park Estates Limited (Registered number: 07685513)

Statement of Financial Position - continued
31 December 2020


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 and authorised for issue on 24 December 2021 and were signed by:





Mr D Robbins - Director


The notes form part of these financial statements

Page 2
Froyle Park Estates Limited (Registered number: 07685513)

Notes to the Financial Statements
for the Year Ended 31 December 2020

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: The Lathe
Northbrook
Farnham
Surrey
GU10 5EU

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.

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.

Page 3 continued...
Froyle Park Estates Limited (Registered number: 07685513)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

2. Accounting policies - continued

Going concern
The director believes the going concern basis remains applicable as the company has the continued support of related companies and their directors. The directors have confirmed that, if required, funds will be made available to meet liabilities as they fall due. Current economic data indicates that the pricing of property and land, to which this company is sensitive, has not been impacted by a significant amount due to the Covid-19 pandemic. The director has made his assessment based on all internal and external information available to him. Rental income received has continued throughout the pandemic.

3. Employees and directors

The average number of employees during the year was NIL (2019 - NIL).

4. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 January 2020
and 31 December 2020 3
Net book value
At 31 December 2020 3
At 31 December 2019 3

5. Investment property
Total
£   
Fair value
At 1 January 2020
and 31 December 2020 788,350
Net book value
At 31 December 2020 788,350
At 31 December 2019 788,350

The director has valued the company's interest in the investment property at £788,350 having considered the open market valuation given by Savills Commercial Limited, and independent chartered surveyor, and also the post year end sales. the historic cost was £550,584.

6. Debtors: amounts falling due within one year
2020 2019
£    £   
Group and participating interests 1,054,579 1,596,684
Other debtors 7,680 5,701
1,062,259 1,602,385

Page 4 continued...
Froyle Park Estates Limited (Registered number: 07685513)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

7. Creditors: amounts falling due within one year
2020 2019
£    £   
Bank loans and overdrafts 2,885 3,180
Trade creditors 3,195 4,541
Group and participating interests 48,536 215,740
Taxation and social security 6,313 5,882
Other creditors 16,207 7,562
77,136 236,905

8. Creditors: amounts falling due after more than one year
2020 2019
£    £   
Bank loans 643,216 857,551

9. Secured debts

The following secured debts are included within creditors:

2020 2019
£    £   
Bank loans 646,101 860,731

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 £8,957,950 as at 31 December 2020.

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