Company registration number 13138225 (England and Wales)
Fellerman Property Company Ltd
Unaudited
financial statements
for the year ended 31 March 2023
PAGES FOR FILING WITH REGISTRAR
Fellerman Property Company Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Fellerman Property Company Ltd
Statement of financial position
as at 31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,306,000
1,315,000
Current assets
Debtors
4
5,337
2,211
Cash at bank and in hand
593,338
4,392
598,675
6,603
Creditors: amounts falling due within one year
5
(821,247)
(963,147)
Net current liabilities
(222,572)
(956,544)
Total assets less current liabilities
1,083,428
358,456
Creditors: amounts falling due after more than one year
6
(628,031)
-
0
Provisions for liabilities
(68,691)
(67,867)
Net assets
386,706
290,589
Capital and reserves
Called up share capital
100
100
Fair value reserve
292,840
289,330
Profit and loss reserves
93,766
1,159
Total equity
386,706
290,589

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Fellerman Property Company Ltd
Statement of financial position (continued)
as at 31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 September 2023 and are signed on its behalf by:
Mrs S C Fellerman
Director
Company Registration No. 13138225
Fellerman Property Company Ltd
Notes to the financial statements
for the year ended 31 March 2023
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Fellerman Property Company Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Investment property
2023
£
Fair value
At 1 April 2022
1,315,000
Additions
5,000
Disposals
(18,333)
Revaluations
4,333
At 31 March 2023
1,306,000

Investment property comprises of various rental properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
5,337
2,211
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
24,068
3,087
Other creditors
797,179
960,060
821,247
963,147
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
628,031
-
0
7
Company information

Fellerman Property Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6 Gateland Drive, Shadwell, Leeds, West Yorkshire, LS17 8HU.

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