Francis Investments East Anglia Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04284979 (England and Wales)

Francis Investments East Anglia Limited

Unaudited Financial Statements

For The Year Ended 30 September 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

R A Bernard

SECRETARY:

REGISTERED OFFICE:

2 St Helens Street

Ipswich

Suffolk

IP4 1HJ

REGISTERED NUMBER:

04284979 (England and Wales)

ACCOUNTANTS:

John Phillips & Co Limited

Accountants

Unit 81 Centaur Court

Claydon Business Park

Gt. Blakenham

Ipswich

Suffolk

IP6 0NL

FIXED ASSETS

Tangible assets

4

7,497,989

7,498,010

CURRENT ASSETS

Stocks

5

214,920

189,920

Debtors

6

27,416

25,329

Cash at bank

6,732

4,917

249,068

220,166

CREDITORS

Amounts falling due within one year

7

184,657

241,791

NET CURRENT ASSETS/(LIABILITIES)

64,411

(21,625

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,562,400

7,476,385

CREDITORS

Amounts falling due after more than one year

8

6,462,543

6,410,279

NET ASSETS

1,099,857

1,066,106

CAPITAL AND RESERVES

Called up share capital

10

4

4

Revaluation reserve

11

1,051,112

1,051,112

Retained earnings

11

48,741

14,990

SHAREHOLDERS' FUNDS

1,099,857

1,066,106

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 and authorised for issue on 30 June 2023 and were signed by:

R A Bernard - Director

1.	STATUTORY INFORMATION

Francis Investments East Anglia Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 October 2021

and 30 September 2022

7,497,926

12,564

564

7,511,054

DEPRECIATION

At 1 October 2021

-

12,480

564

13,044

Charge for year

-

21

-

21

At 30 September 2022

-

12,501

564

13,065

NET BOOK VALUE

At 30 September 2022

7,497,926

63

-

7,497,989

At 30 September 2021

7,497,926

84

-

7,498,010

The Land Registry title deeds do not show the company as legal owner of a significant value of freehold property. See note 14 below for further details.

Cost or valuation at 30 September 2022 is represented by:

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Valuation in 2006

170,950

-

-

170,950

Valuation in 2014

668,876

-

-

668,876

Valuation in 2015

(7,100

)

-

-

(7,100

)

Valuation in 2021

218,386

-

-

218,386

Cost

6,446,814

12,564

564

6,459,942

7,497,926

12,564

564

7,511,054

5.

STOCKS

30.9.22

30.9.21

£

£

Work-in-progress

214,920

189,920

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Other debtors

27,416

25,329

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans and overdrafts

-

5,832

Tax

17,066

16,461

Social security and other taxes

200

200

Other creditors

161,215

214,622

Accrued expenses

6,176

4,676

184,657

241,791

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.22

30.9.21

£

£

Bounce Back Loan

42,880

-

Bank loans more 5 yr by instal

5,964,961

5,964,961

Directors Loan Account

454,702

445,318

6,462,543

6,410,279

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,964,961

5,964,961

Some mortgages shown under creditors due more than one year are not in the company name. See the note 14 below for further details.

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.22

30.9.21

£

£

Bank loans

6,007,841

5,964,961

Bank loans and mortgages are secured on the assets concerned.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.9.21

value:

£

£

4

Ordinary

£1

4

4

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 October 2021

14,990

1,051,112

1,066,102

Profit for the year

33,751

33,751

At 30 September 2022

48,741

1,051,112

1,099,853

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director Ralph Bernard by virtue of his 100% share holding.

13.	FREEHOLD PROPERTY AND RELATED MORTGAGES

The Land Registry title deeds do not show the company as legal owner of a significant value of freehold property. The properties in question are registered to the director Ralph Bernard (with the exception on one registered to Jay & Jermaine Bernard). The related mortgages shown under creditors due more than one year and also not in the company name.

These properties however as the company's assets/liabilities as they are held under a legal trust on behalf of the company. This was done for commercial reason.

14.	GOING CONCERN

The Directors have considered the going concern basis to be appropriate for the preparation of these accounts and will continue to support the company for a period of 1 year from when theses financial statements are approved.