Flintshire Properties Limited |
Registered number: |
04442141 |
Balance Sheet |
as at 31 March 2022 |
|
Notes |
|
|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
950,541 |
|
|
951,770 |
|
Current assets |
Debtors |
4 |
|
229 |
|
|
195 |
Cash at bank and in hand |
|
|
4,364 |
|
|
9,995 |
|
|
|
4,593 |
|
|
10,190 |
|
Creditors: amounts falling due within one year |
5 |
|
(60,120) |
|
|
(62,230) |
|
Net current liabilities |
|
|
|
(55,527) |
|
|
(52,040) |
|
Total assets less current liabilities |
|
|
|
895,014 |
|
|
899,730 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(260,475) |
|
|
(292,011) |
|
Provisions for liabilities |
|
|
|
(700) |
|
|
(934) |
|
|
Net assets |
|
|
|
633,839 |
|
|
606,785 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
633,739 |
|
|
606,685 |
|
Shareholder's funds |
|
|
|
633,839 |
|
|
606,785 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared in accordance with the provisions of the small companies regime in FRS 102 (Section 1A). The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
C Jackson |
Director |
|
Approved by the board on 5 August 2022 |
|
Flintshire Properties Limited |
Notes to the Accounts |
for the year ended 31 March 2022 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
These accounts have been prepared in accordance with the small company regime in FRS 102 (section 1A). The accounts have been prepared on a going concern basis, under the historical cost convention as modified by the revaluation of certain tangible fixed assets, and in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. |
|
|
Turnover |
|
Turnover comprises rents receivable for the year. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% on reducing balance |
|
Motor vehicles |
25% on reducing balance |
|
|
Government Grants |
|
Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are included using the performance model. |
|
|
Investment property |
|
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
|
The properties have been valued on an open market basis by Paterson Macaulay & Owens, Chartered Architects. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
Investment property |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 April 2021 |
1,027,848 |
|
6,058 |
|
20,613 |
|
1,054,519 |
|
At 31 March 2022 |
1,027,848 |
|
6,058 |
|
20,613 |
|
1,054,519 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2021 |
80,994 |
|
5,830 |
|
15,925 |
|
102,749 |
|
Charge for the year |
- |
|
57 |
|
1,172 |
|
1,229 |
|
At 31 March 2022 |
80,994 |
|
5,887 |
|
17,097 |
|
103,978 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
946,854 |
|
171 |
|
3,516 |
|
950,541 |
|
At 31 March 2021 |
946,854 |
|
228 |
|
4,688 |
|
951,770 |
|
|
|
|
|
|
|
|
|
|
|
Investment properties: |
2022 |
|
2021 |
£ |
£ |
|
Historical cost |
723,243 |
|
723,243 |
|
Revaluation surplus |
223,611 |
|
223,611 |
|
|
|
|
|
|
946,854 |
|
946,854 |
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2022 |
|
2021 |
£ |
£ |
|
|
Other debtors |
229 |
|
195 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Bank loans and overdrafts |
26,851 |
|
26,251 |
|
Corporation tax |
6,580 |
|
8,226 |
|
Other taxes and social security costs |
153 |
|
40 |
|
Other creditors |
26,536 |
|
27,713 |
|
|
|
|
|
|
60,120 |
|
62,230 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
£ |
£ |
|
|
Bank loans |
200,475 |
|
232,011 |
|
Other creditors |
60,000 |
|
60,000 |
|
|
|
|
|
|
260,475 |
|
292,011 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2022 |
|
2021 |
£ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
79,708 |
|
109,811 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
210,159 |
|
240,262 |
|
|
|
|
|
|
|
|
|
|
The loans are secured against the company's investment properties. |
|
|
Loan from director |
|
|
|
|
68,738 |
|
104,570 |
|
|
|
|
|
|
|
|
|
|
Interest at 7% is charged. There is no fixed date for repayment. |
|
|
8 |
Controlling party |
|
|
The company is controlled by the director, Mr C Jackson, who holds all of the share capital. |
|
|
9 |
Other information |
|
|
Flintshire Properties Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
|
Clifton House |
|
18 Wrexham Street |
|
Mold |
|
Flintshire |
|
CH7 1ES |