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REGISTERED NUMBER: 06286553 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2018

for

Ferrestone Properties Ltd

Ferrestone Properties Ltd (Registered number: 06286553)






Contents of the Financial Statements
for the Year Ended 30 June 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ferrestone Properties Ltd

Company Information
for the Year Ended 30 June 2018







DIRECTOR: V Thompson





SECRETARY: Miss I A Thompson





REGISTERED OFFICE: 6 Ferrestone Road
London
N8 7BX





REGISTERED NUMBER: 06286553 (England and Wales)





ACCOUNTANTS: Fredericks 2001 Limited
Highgate Business Centre
33 Greenwood Place
London
NW5 1LB

Ferrestone Properties Ltd (Registered number: 06286553)

Balance Sheet
30 June 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 850,000 810,000

CURRENT ASSETS
Cash at bank 7,728 26,164

CREDITORS
Amounts falling due within one year 5 78,733 104,585
NET CURRENT LIABILITIES (71,005 ) (78,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

778,995

731,579

CREDITORS
Amounts falling due after more than one
year

6

(479,444

)

(479,480

)

PROVISIONS FOR LIABILITIES 8 (25,677 ) (20,910 )
NET ASSETS 273,874 231,189

CAPITAL AND RESERVES
Called up share capital 1 1
Non distributable reserve 282,246 247,013
Retained earnings (8,373 ) (15,825 )
SHAREHOLDERS' FUNDS 273,874 231,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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.

Ferrestone Properties Ltd (Registered number: 06286553)

Balance Sheet - continued
30 June 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 1 October 2018 and were signed by:





V Thompson - Director


Ferrestone Properties Ltd (Registered number: 06286553)

Notes to the Financial Statements
for the Year Ended 30 June 2018

1. STATUTORY INFORMATION

Ferrestone Properties Ltd 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts are prepared on a going concern basis, the validity of which is dependent upon the
continuing support of the director, who is the principal creditor.

Turnover
Turnover comprises rental income receivable. Income is recognised when rents are due under the
terms of the leases in force.

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.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in
FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective
interest method. In the opinion of the directors, there are no advanced financial instruments.

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.

Ferrestone Properties Ltd (Registered number: 06286553)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2018

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 July 2017 810,000
Revaluations 40,000
At 30 June 2018 850,000
NET BOOK VALUE
At 30 June 2018 850,000
At 30 June 2017 810,000

Cost or valuation at 30 June 2018 is represented by:

£   
Valuation in 2008 (26,978 )
Valuation in 2009 (3,527 )
Valuation in 2010 3,428
Valuation in 2013 110,000
Valuation in 2014 75,000
Valuation in 2015 85,000
Valuation in 2016 25,000
Valuation in 2018 40,000
Cost 542,077
850,000

If investment property had not been revalued it would have been included at the following historical
cost:

2018 2017
£    £   
Cost 542,077 542,077
Aggregate depreciation (119,123 ) (108,282 )

Investment property was valued on an open market basis basis on 30 June 2018 by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 3,704 -
Barclaycard 1,011 1,154
Directors' current accounts 74,018 100,432
Accruals and deferred income - 2,999
78,733 104,585

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loans more 5 yrs non-inst 479,444 479,480

Ferrestone Properties Ltd (Registered number: 06286553)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2018

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2018 2017
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 479,444 479,480

7. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 479,444 479,480

the bank loans are secured by way of a charge on the company's investment property.

8. PROVISIONS FOR LIABILITIES

The deferred tax provision represents the tax liability that would arise on the disposal of the investment
property at the balance sheet value.The tax has been calculated on the indexed cost of the property
and calculated at 19%.

9. RELATED PARTY DISCLOSURES

Mr V Thompson has made interest free loans to the company. The amount outstanding at 30 June
2018 is £74,018 (2017; £10,0431)

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is V Thompson.