Fosters Park Limited - Accounts to registrar (filleted) - small 23.2.5

Fosters Park Limited - Accounts to registrar (filleted) - small 23.2.5

FOSTERS PARK LIMITED - Company Information

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REGISTERED NUMBER: 07423384 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FOSTERS PARK LIMITED
FOSTERS PARK LIMITED (REGISTERED NUMBER: 07423384)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOSTERS PARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr S R Martin
Mr K J Martin





REGISTERED OFFICE: Unit A Fosters Business Park
Old School Road
Hook
Hampshire
RG27 9NY





REGISTERED NUMBER: 07423384 (England and Wales)





Page 1
FOSTERS PARK LIMITED (REGISTERED NUMBER: 07423384)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 714,395 730,995
Investments 5 2,273,528 2,273,528
2,987,923 3,004,523

CURRENT ASSETS
Debtors 6 136,000 133,750
Cash at bank 100,399 295,365
236,399 429,115
CREDITORS
Amounts falling due within one year 7 49,054 73,951
NET CURRENT ASSETS 187,345 355,164
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,175,268
3,359,687

CREDITORS
Amounts falling due after more than one
year
8
253,920
280,044
NET ASSETS 2,921,348 3,079,643

CAPITAL AND RESERVES
Called up share capital 50 50
Share premium 1,139,949 1,139,949
Retained earnings 1,781,349 1,939,644
2,921,348 3,079,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 April 2024 and were signed on its behalf by:



Mr S R Martin - Director


The notes form part of these financial statements

Page 2
FOSTERS PARK LIMITED (REGISTERED NUMBER: 07423384)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Fosters Park 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line

All fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Page 3 continued...
FOSTERS PARK LIMITED (REGISTERED NUMBER: 07423384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 January 2023
and 31 December 2023 830,000
DEPRECIATION
At 1 January 2023 99,005
Charge for year 16,600
At 31 December 2023 115,605
NET BOOK VALUE
At 31 December 2023 714,395
At 31 December 2022 730,995

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 2,273,528
NET BOOK VALUE
At 31 December 2023 2,273,528
At 31 December 2022 2,273,528

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 136,000 133,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 38,656 32,537
Trade creditors 2,700 -
Amounts owed to group undertakings 1,848 -
Taxation and social security 4,200 39,839
Other creditors 1,650 1,575
49,054 73,951

Included in other creditors is £1,650 (2022: £1,575) in relation to accruals and deferred income.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 253,920 280,044

Page 4 continued...
FOSTERS PARK LIMITED (REGISTERED NUMBER: 07423384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 253,920 280,044

9. LOANS

The loan is secured by a legal charge over the freehold property and a cross guarantee and debenture with Paramount Pools Limited (a subsidiary company).

Page 5