Company Registration No. 03425416 (England and Wales)
Fergusson Holdings Limited
Unaudited financial statements
For the year ended 31 March 2023
Pages for filing with registrar
FERGUSSON HOLDINGS LIMITED
Fergusson Holdings Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
FERGUSSON HOLDINGS LIMITED
Fergusson Holdings Limited
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,941
3,502
Investment properties
4
11,400,000
11,400,000
11,404,941
11,403,502
Current assets
Debtors
5
1,907,934
457,648
Cash at bank and in hand
497,320
203,824
2,405,254
661,472
Creditors: amounts falling due within one year
6
(833,688)
(601,332)
Net current assets
1,571,566
60,140
Total assets less current liabilities
12,976,507
11,463,642
Creditors: amounts falling due after more than one year
7
(3,159,000)
(1,406,678)
Provisions for liabilities
(2,222,746)
(2,222,746)
Net assets
7,594,761
7,834,218
Capital and reserves
Called up share capital
8
9,750
9,750
Profit and loss reserves
7,585,011
7,824,468
Total equity
7,594,761
7,834,218

The directors of the company have elected not to include a copy of the profit and loss account 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.

FERGUSSON HOLDINGS LIMITED
Fergusson Holdings Limited
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 July 2023 and are signed on its behalf by:
R Bloom
Director
Company Registration No. 03425416
FERGUSSON HOLDINGS LIMITED
Fergusson Holdings Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
1.1
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.

1.2
Reporting period

The company shortened its accounting period end date from 30 April to 31 March. As a result, the amounts presented in the financial statements are not entirely comparable.

 

1.3
Turnover

Turnover represents amounts receivable for the rental income apportioned on a daily basis and is exempt from VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Computers equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

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.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
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 profit and loss account 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.

FERGUSSON HOLDINGS LIMITED
Fergusson Holdings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
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.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Employees

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

2023
2022
Number
Number
Total
3
3
FERGUSSON HOLDINGS LIMITED
Fergusson Holdings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
110,957
Additions
2,804
At 31 March 2023
113,761
Depreciation and impairment
At 1 April 2022
107,455
Depreciation charged in the year
1,365
At 31 March 2023
108,820
Carrying amount
At 31 March 2023
4,941
At 31 March 2022
3,502
4
Investment property
2023
£
Fair value
At 1 April 2022 and 31 March 2023
11,400,000

The investment property is stated at the directors' estimate of market value at the balance sheet date based on a professional valuation.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
117,025
32,499
Corporation tax recoverable
370,464
-
0
Other debtors
1,420,445
425,149
1,907,934
457,648
FERGUSSON HOLDINGS LIMITED
Fergusson Holdings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
53,297
77,300
Trade creditors
19,686
19,093
Corporation tax
413,555
154,269
Other creditors
347,150
350,670
833,688
601,332

The bank facilities are secured by charge on the company's assets.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,159,000
1,406,678
8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
752 A Ordinary of £1 each
752
752
7,294 B Ordinary of £1 each
7,294
7,294
704 C Ordinary of £1 each
704
704
1,000 D Ordinary of £1 each
1,000
1,000
9,750
9,750
9
Related party transactions

At the year end, the directors owed the company £1,408,251 (2022: £416,190).

FERGUSSON HOLDINGS LIMITED
Fergusson Holdings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
10
Company information

Fergusson Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

 

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 £.

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