Fen Properties Ltd - Accounts to registrar - small 17.2
Fen Properties Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 5 APRIL 2017 |
| FOR |
| FEN PROPERTIES LTD |
| FEN PROPERTIES LTD (REGISTERED NUMBER: 03142779) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 5 APRIL 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| FEN PROPERTIES LTD |
| COMPANY INFORMATION |
| for the year ended 5 APRIL 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 27 Osborne Street |
| Grimsby |
| N E Lincs |
| DN31 1NU |
| BANKERS: |
| Market Place |
| Spalding |
| Lincolnshire |
| PE11 1ST |
| FEN PROPERTIES LTD (REGISTERED NUMBER: 03142779) |
| BALANCE SHEET |
| 5 APRIL 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| FEN PROPERTIES LTD (REGISTERED NUMBER: 03142779) |
| BALANCE SHEET - continued |
| 5 APRIL 2017 |
| 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 Board of Directors on its behalf by: |
| FEN PROPERTIES LTD (REGISTERED NUMBER: 03142779) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 5 APRIL 2017 |
| 1. | STATUTORY INFORMATION |
| Fen Properties Ltd is a |
| 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 |
| The significant accounting policies applied in the preparation of these financial statements are set out |
| below. These policies have been consistently applied to all years presented unless otherwise stated. |
| The company adopted FRS 102 Section 1A in the current year. No transitional adjustments arose on |
| the adoption of the Standard. |
| The financial statements are presented in sterling which is the functional currency of the company and |
| rounded to the nearest £. |
| Turnover |
| Turnover represents services provided and properties sold, measured at fair value. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
| and accumulated impairment losses. |
| Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less |
| estimated residual value, of each asset on a systematic basis over their expected useful lives as |
| follows - |
| Office furniture & equipment - 15% and 20% on cost |
| Investment property |
| Investment properties are revalued annually and any surplus or deficit arising from changes in fair |
| value is recognised in the profit and loss account. No depreciation is provided in respect of investment |
| properties. |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and estimated selling price. Cost includes |
| all direct expenditure and an appropriate proportion of fixed and variable overheads, and is calculated |
| using the first in, first out method. Provision is made for damaged, obsolete and slow-moving stock |
| where appropriate. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss |
| account, 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. |
| FEN PROPERTIES LTD (REGISTERED NUMBER: 03142779) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 5 APRIL 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Debtors and creditors |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recognised at transaction price. Any losses arising from impairment are recognised in the profit and |
| loss account in other administrative expenses. |
| Employee benefits |
| When employees have rendered service to the company, short-term employee benefits to which the |
| employees are entitled are recognised at the undiscounted amount expected to be paid in exchange |
| for that service. |
| 3. | EMPLOYEES |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Office |
| Furniture |
| & Equipment |
| £ |
| COST |
| At 6 April 2016 |
| Disposals | ( |
) |
| At 5 April 2017 |
| DEPRECIATION |
| At 6 April 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 5 April 2017 |
| NET BOOK VALUE |
| At 5 April 2017 |
| At 5 April 2016 |
| FEN PROPERTIES LTD (REGISTERED NUMBER: 03142779) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 5 APRIL 2017 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 6 April 2016 |
| Revaluations |
| At 5 April 2017 |
| NET BOOK VALUE |
| At 5 April 2017 |
| At 5 April 2016 |
| The investment properties were valued at fair value on 5 April 2017 by R Longstaff & Co, Chartered |
| Surveyors. The historical cost of the investment properties is £925,000 (2016: £925,000). |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 7. | CURRENT ASSET INVESTMENTS |
| 2017 | 2016 |
| £ | £ |
| Unlisted investments | 246,469 | 245,064 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 |
| FEN PROPERTIES LTD (REGISTERED NUMBER: 03142779) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 5 APRIL 2017 |
| 10. | RELATED PARTY DISCLOSURES |
| Throughout the year the ultimate parent company was Hambledon Properties Limited. Its registered |
| office is 1st Floor, Sixty Circular Road, Douglas, IM1 1AE, Isle of Man. |
| Included in trade debtors is an amount of £13,125 (2016: £19,250) due from Hambledon Investments |
| Limited, a company controlled by the ultimate controlling party, Hambledon Trust. Work in progress |
| includes £38,684 (2016: £29,207) in respect of work undertaken for that company. |