Fen Properties Limited - Period Ending 2023-04-05
Fen Properties Limited - Period Ending 2023-04-05
Registration number:
Fen Properties Limited
for the Year Ended 5 April 2023
Fen Properties Limited
(Registration number: 03142779)
Balance Sheet as at 5 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investment property |
- |
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Current assets |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Fen Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Registration number: 03142779
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Fen Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
15% and 20% per annum on cost |
Investment property
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Fen Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 6 April 2022 |
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At 5 April 2023 |
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Depreciation |
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At 6 April 2022 |
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At 5 April 2023 |
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Carrying amount |
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At 5 April 2023 |
- |
- |
Investment properties |
2023 |
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At 6 April |
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Disposals |
( |
At 5 April |
- |
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers.
Fen Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023
Debtors |
Current |
2023 |
2022 |
Trade debtors |
- |
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Other debtors |
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Social security and other taxes |
8,512 |
- |
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Current asset investments |
2023 |
2022 |
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Other investments |
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Creditors |
2023 |
2022 |
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Due within one year |
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Social security and other taxes |
6,061 |
9,101 |
Other payables |
49,216 |
48,687 |
55,277 |
57,788 |
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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5,000 |
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5,000 |
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is