IRIS Accounts Production v22.2.0.402 05201488 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure052014882020-12-31052014882021-12-31052014882021-01-012021-12-31052014882019-12-31052014882020-01-012020-12-31052014882020-12-3105201488ns16:EnglandWales2021-01-012021-12-3105201488ns15:PoundSterling2021-01-012021-12-3105201488ns11:Director12021-01-012021-12-3105201488ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3105201488ns11:SmallEntities2021-01-012021-12-3105201488ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3105201488ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3105201488ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3105201488ns11:FullAccounts2021-01-012021-12-3105201488ns11:Director22021-01-012021-12-3105201488ns11:Director32021-01-012021-12-3105201488ns11:Director42021-01-012021-12-3105201488ns11:CompanySecretary12021-01-012021-12-3105201488ns11:RegisteredOffice2021-01-012021-12-3105201488ns6:CurrentFinancialInstruments2021-12-3105201488ns6:CurrentFinancialInstruments2020-12-3105201488ns6:Non-currentFinancialInstruments2021-12-3105201488ns6:Non-currentFinancialInstruments2020-12-3105201488ns6:ShareCapital2021-12-3105201488ns6:ShareCapital2020-12-3105201488ns6:SharePremium2021-12-3105201488ns6:SharePremium2020-12-3105201488ns6:RevaluationReserve2021-12-3105201488ns6:RevaluationReserve2020-12-3105201488ns6:RetainedEarningsAccumulatedLosses2021-12-3105201488ns6:RetainedEarningsAccumulatedLosses2020-12-3105201488ns6:FurnitureFittings2021-01-012021-12-3105201488ns6:ComputerEquipment2021-01-012021-12-3105201488ns6:FurnitureFittings2020-12-3105201488ns6:ComputerEquipment2020-12-3105201488ns6:FurnitureFittings2021-12-3105201488ns6:ComputerEquipment2021-12-3105201488ns6:FurnitureFittings2020-12-3105201488ns6:ComputerEquipment2020-12-3105201488ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3105201488ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-310520148812021-01-012021-12-31
REGISTERED NUMBER: 05201488 (England and Wales)















FELLSIDE ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FELLSIDE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: N A Mason
Mrs L E Seago
Mrs R Mason
T N Mason





SECRETARY: Mrs P V Mason





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 05201488 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 4,873 6,189
Investment property 5 11,050,000 8,900,000
11,054,873 8,906,189

CURRENT ASSETS
Debtors 6 79,812 79,289
Cash at bank and in hand 695,433 1,621,750
775,245 1,701,039
CREDITORS
Amounts falling due within one year 7 433,475 953,928
NET CURRENT ASSETS 341,770 747,111
TOTAL ASSETS LESS CURRENT LIABILITIES 11,396,643 9,653,300

CREDITORS
Amounts falling due after more than one year 8 (568,143 ) -

PROVISIONS FOR LIABILITIES (467,191 ) (123,165 )
NET ASSETS 10,361,309 9,530,135

CAPITAL AND RESERVES
Called up share capital 9 6,600 6,600
Share premium 2,193,500 2,193,500
Fair value adjustment reserve 2,546,063 1,691,733
Retained earnings 5,615,146 5,638,302
10,361,309 9,530,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


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 4 July 2022 and were signed on its behalf by:





Mrs R Mason - Director


FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Fellside Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Revenue
Revenue represents rents, management charges, commissions received and property development sales by the company during the year, excluding VAT.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

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 Statement of Financial Position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Poistion 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and the outstanding future lease obligations are shown in creditors. Operating lease rentals are charged to the income statement on a straight line basis over the period of the lease.

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 7 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures,
fittings
and Computer
equipment equipment Totals
£    £    £   
COST
At 1 January 2021 23,341 28,036 51,377
Additions - 3,132 3,132
Disposals - (1,221 ) (1,221 )
At 31 December 2021 23,341 29,947 53,288
DEPRECIATION
At 1 January 2021 21,544 23,644 45,188
Charge for year 1,089 2,206 3,295
Eliminated on disposal - (68 ) (68 )
At 31 December 2021 22,633 25,782 48,415
NET BOOK VALUE
At 31 December 2021 708 4,165 4,873
At 31 December 2020 1,797 4,392 6,189

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 8,900,000
Additions 996,286
Revaluations 1,153,714
At 31 December 2021 11,050,000
NET BOOK VALUE
At 31 December 2021 11,050,000
At 31 December 2020 8,900,000

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2021 2,862,628
Cost 8,187,372
11,050,000

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. INVESTMENT PROPERTY - continued

The company's investment properties were valued on an open market basis by N A Mason FRICS and T N Mason MRICS, designated members, as at 31 December 2021.

In accordance with RICS valuation standards, the valuation was prepared having regard to market based evidence for similar properties sold in the local area, subject to the occupational leases. The valuation principally focussed on a continuation of the existing use, having regard to the current tenancy position and a rent yield approach.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 54,053 44,672
Other debtors 25,759 34,617
79,812 79,289

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 117,213 100,833
Taxation and social security 63,440 71,650
Other creditors 252,822 781,445
433,475 953,928

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Other creditors 568,143 -

9. CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:
Number: Class: Nominal 2021 2010
value: £ £

3,700 Ordinary A £1 3,700 3,700
1,400 Ordinary B £1 1,400 1,400
500 Ordinary C £1 500 500
500 Ordinary D £1 500 500
500 Ordinary E £1 500 500

6,600 6,600

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

10. OTHER FINANCIAL COMMITMENTS

At the year end the company has commitments due as follows:

20212020
££
Within one year16,978-
2 - 5 years46,690-
63,668-

11. POST BALANCE SHEET EVENTS

Dividends of £112,345 were also paid in respect of the year ended 31 December 2022 and are not accounted for in these financial statements. These dividends will be reflected in shareholders equity as an appropriation of retained earnings in the year ended 31 December 2022.