Caseware UK (AP4) 2022.0.179 2022.0.179 falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01property investment23true 02458105 2022-04-01 2023-03-31 02458105 2021-04-01 2022-03-31 02458105 2023-03-31 02458105 2022-03-31 02458105 2021-04-01 02458105 c:Director1 2022-04-01 2023-03-31 02458105 d:FurnitureFittings 2022-04-01 2023-03-31 02458105 d:FurnitureFittings 2023-03-31 02458105 d:FurnitureFittings 2022-03-31 02458105 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02458105 d:OfficeEquipment 2022-04-01 2023-03-31 02458105 d:OfficeEquipment 2023-03-31 02458105 d:OfficeEquipment 2022-03-31 02458105 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02458105 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02458105 d:FreeholdInvestmentProperty 2022-03-31 02458105 d:CurrentFinancialInstruments 2023-03-31 02458105 d:CurrentFinancialInstruments 2022-03-31 02458105 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02458105 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 02458105 d:ShareCapital 2023-03-31 02458105 d:ShareCapital 2022-03-31 02458105 d:ShareCapital 2021-04-01 02458105 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 02458105 d:CapitalRedemptionReserve 2023-03-31 02458105 d:CapitalRedemptionReserve 2021-04-01 2022-03-31 02458105 d:CapitalRedemptionReserve 2022-03-31 02458105 d:CapitalRedemptionReserve 2021-04-01 02458105 d:RevaluationReserve 2023-03-31 02458105 d:RevaluationReserve 2021-04-01 2022-03-31 02458105 d:RevaluationReserve 2022-03-31 02458105 d:RevaluationReserve 2021-04-01 02458105 d:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-31 02458105 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 02458105 d:RetainedEarningsAccumulatedLosses 2023-03-31 02458105 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 02458105 d:RetainedEarningsAccumulatedLosses 2022-03-31 02458105 d:RetainedEarningsAccumulatedLosses 2021-04-01 02458105 c:FRS102 2022-04-01 2023-03-31 02458105 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 02458105 c:FullAccounts 2022-04-01 2023-03-31 02458105 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02458105 d:OtherDeferredTax 2023-03-31 02458105 d:OtherDeferredTax 2022-03-31 iso4217:GBP xbrli:pure
Registered number: 02458105

 




 
F.E. Good Properties Limited          
          
Financial statements          
 
For the year ended 31 March 2023          

 
F.E. Good Properties Limited
Registered number:02458105

Balance Sheet
As at 31 March 2023


2023

2022
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
8,149
9,656

Investment property
 5 
7,603,500
7,603,500

  
7,611,649
7,613,156

Current assets
  

Debtors
 6 
171,833
172,090

Cash at bank and in hand
 7 
216,035
204,384

  
387,868
376,474

Creditors: amounts falling due within one year
 8 
(166,720)
(172,211)

Net current assets
  
 
 
221,148
 
 
204,263

Total assets less current liabilities
  
7,832,797
7,817,419

Provisions for liabilities
  

Deferred tax
 9 
(881,710)
(881,710)

Net assets
  
6,951,087
6,935,709


Capital and reserves
  

Called up share capital 
  
28,676
28,676

Investment property revaluation reserve
 10 
4,808,239
4,808,239

Capital redemption reserve
 10 
1,542,176
1,542,176

Profit and loss account
 10 
571,996
556,618

  
6,951,087
6,935,709


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
 

Page 1

 
F.E. Good Properties Limited
Registered number:02458105
    
Balance Sheet (continued)
As at 31 March 2023

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 15 June 2023.





J Bourne
Director























The notes on pages 4 to 9 form part of these financial statements.
Page 2

 
F.E. Good Properties Limited
 

Statement of Changes in Equity
For the Year Ended 31 March 2023


Called up share capital
Capital redemption reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 April 2021
28,676
1,542,176
3,748,822
522,762
5,842,436



Profit for the year
-
-
-
1,293,431
1,293,431

Dividends: Equity capital
-
-
-
(200,158)
(200,158)

Transfer between reserves
-
-
1,059,417
(1,059,417)
-



At 1 April 2022
28,676
1,542,176
4,808,239
556,618
6,935,709



Profit for the year
-
-
-
225,573
225,573

Dividends: Equity capital
-
-
-
(210,195)
(210,195)


At 31 March 2023
28,676
1,542,176
4,808,239
571,996
6,951,087


















The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
F.E. Good Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

1.


General information

F.E. Good Properties Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex SS11 7HQ.

2.Accounting policies

  
2.1
Revenue

Revenue comprises of rents receivable for the year in respect of the company's investment properties.

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation on assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rates:

Fixture and fittings
-
15% reducing balance method
Office equipment
-
25% reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.3

Investment property

Investment property is carried at fair value determined by the directors having regard to professional advice taken personally and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
F.E. Good Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Page 5

 
F.E. Good Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
3

Page 6

 
F.E. Good Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost 


At 1 April 2022 and 31 March 2023

24,075
1,878
25,953



Depreciation


At 1 April 2022
14,996
1,302
16,298


Charge for the year
1,362
144
1,506



At 31 March 2023

16,358
1,446
17,804



Net book value



At 31 March 2023
7,717
432
8,149



At 31 March 2022
9,080
576
9,656


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022 and 31 March 2023
7,603,500

The 2023 valuations were made by the directors, having regard to professional advice taken personally, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,913,551
1,913,551

Page 7

 
F.E. Good Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

6.


Debtors

2023
2022
£
£


Trade debtors
28,134
50,973

Other debtors
111,572
83,487

Prepayments and accrued income
12,787
17,415

Tenant deposits held by agent
19,340
20,215

171,833
172,090



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
216,035
204,385



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
19,340
20,215

Corporation tax
53,216
55,313

Other taxation and social security
606
1,261

Other creditors
5,052
1,073

Accruals and deferred income
88,506
94,349

166,720
172,211



9.


Deferred taxation




2023
2022


£

£






At beginning of year
(881,710)
(371,958)


Charged for the year
-
(509,752)



At end of year
(881,710)
(881,710)

Page 8

 
F.E. Good Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised surplus on revaluation of investment property
(881,710)
(881,710)


10.


Reserves

Capital redemption reserve

The capital redemption reserve represents the amounts that are transferred following the redemption or purchase of a company's own shares.

Investment property revaluation reserve

The investment property revaluation reserve represents the cumulative effect of revaluations of investment properties where a policy of revaluation has been adopted.

Profit & loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

Page 9