Fineland Investments Limited - Accounts to registrar (filleted) - small 22.3
Fineland Investments Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 28 FEBRUARY 2022 |
| FOR |
| FINELAND INVESTMENTS LIMITED |
| FINELAND INVESTMENTS LIMITED (REGISTERED NUMBER: 05016521) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| FINELAND INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| First Floor, Winston House |
| 349 Regents Park Road |
| London |
| N3 1DH |
| FINELAND INVESTMENTS LIMITED (REGISTERED NUMBER: 05016521) |
| BALANCE SHEET |
| 28 FEBRUARY 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| FINELAND INVESTMENTS LIMITED (REGISTERED NUMBER: 05016521) |
| BALANCE SHEET - continued |
| 28 FEBRUARY 2022 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| FINELAND INVESTMENTS LIMITED (REGISTERED NUMBER: 05016521) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| 1. | STATUTORY INFORMATION |
| Fineland Investments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises net proceeds from sales of residential properties and rental income receivable. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| Stocks |
| Stock represents residential properties bought with the intention of selling them. Stocks are valued at the lower of cost and and estimated selling price less costs to complete and sell. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. |
| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. If the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset is measured, initially, at the present value of the future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised costs. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit or Loss, 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. |
| FINELAND INVESTMENTS LIMITED (REGISTERED NUMBER: 05016521) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2021 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 March 2021 |
| and 28 February 2022 |
| DEPRECIATION |
| At 1 March 2021 |
| and 28 February 2022 |
| NET BOOK VALUE |
| At 28 February 2022 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2021 |
| and 28 February 2022 |
| NET BOOK VALUE |
| At 28 February 2022 |
| At 28 February 2021 |
| Fair value at 28 February 2022 is represented by: |
| £ |
| Valuation in 2022 | 646,553 |
| Cost | 953,447 |
| 1,600,000 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 953,447 | 953,447 |
| Investment properties were valued on an open market basis on 28 February 2022 by the director . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other debtors |
| Short term debtors are measured at transaction price, less any impairment. Other debtors are measured at amortised cost. |
| FINELAND INVESTMENTS LIMITED (REGISTERED NUMBER: 05016521) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Short term creditors are measured at transaction price, less any impairment. Other creditors are measured at amortised cost. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| The security is effected by specific legal charges on investment properties, and a debenture over the company's assets. |