FRESTON PROPERTY PHOENIX LIMITED

Company Registration Number:
09666374 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

FRESTON PROPERTY PHOENIX LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

FRESTON PROPERTY PHOENIX LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 580,412 509,611
Investments: 4 21,915,000 21,915,000
Total fixed assets: 22,495,412 22,424,611
Current assets
Stocks: 0 0
Debtors: 5 523,453 814,928
Cash at bank and in hand: 297,000 307,392
Investments:   0 0
Total current assets: 820,453 1,122,320
Creditors: amounts falling due within one year: 6 (1,135,150) (947,282)
Net current assets (liabilities): (314,697) 175,038
Total assets less current liabilities: 22,180,715 22,599,649
Creditors: amounts falling due after more than one year: 7 (26,370,958) (26,498,098)
Provision for liabilities: (86,625) (114,476)
Total net assets (liabilities): (4,276,868) (4,012,925)
Capital and reserves
Called up share capital: 100 100
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: (4,276,968) (4,013,025)
Shareholders funds: (4,276,868) (4,012,925)

The notes form part of these financial statements

FRESTON PROPERTY PHOENIX LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 October 2023
and signed on behalf of the board by:

Name: Robert Clarkson
Status: Director

The notes form part of these financial statements

FRESTON PROPERTY PHOENIX LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

FRESTON PROPERTY PHOENIX LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 0 0

FRESTON PROPERTY PHOENIX LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 835,946
Additions 274,139
At 31 March 2023 1,110,085
Depreciation
At 01 April 2022 326,335
Charge for year 203,338
At 31 March 2023 529,673
Net book value
At 31 March 2023 580,412
At 31 March 2022 509,611

FRESTON PROPERTY PHOENIX LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Fixed investments

Investment property is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The property valuations are considered to be fair and no adjustments have been made in the profit and loss account for the year ended 31st March 2023.

FRESTON PROPERTY PHOENIX LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Debtors

2023 2022
££
Debtors due after more than one year: 69,229 168,831

FRESTON PROPERTY PHOENIX LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due within one year note

2023 2022Trade Creditors 40,214 193,413Prepayments, accrued income 323,311 297,019Other Creditors 75,852 42,958Taxes, social security 4,703Bank Facility 691,070 413,892Total Creditors 1,135,150 947,282

FRESTON PROPERTY PHOENIX LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Creditors: amounts falling due after more than one year note

2023 2022Shareholder loan 16,664,995 16,134,995Bank Facility 9,705,963 10,363,103Total 26,730,958 26,498,098

FRESTON PROPERTY PHOENIX LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

8. Related party transactions

Name of the related party: Sir Charles Dunstone
Relationship:
Shareholder
Description of the Transaction: Loan to company
£
Balance at 01 April 2022 11,495,995
Balance at 31 March 2023 12,025,995
Name of the related party: Roger Taylor
Relationship:
Shareholder
Description of the Transaction: Loan to company
£
Balance at 01 April 2022 4,639,000
Balance at 31 March 2023 4,639,000
Name of the related party: Marrof Management Limited
Relationship:
Entity under common control
Description of the Transaction: During the year the company was charged management fee expenses of £24,000 from Marrof Management Limited, an entity under common control. There was no outstanding debt at the end of the year.
£
Balance at 01 April 2022 24,000
Balance at 31 March 2023 24,000