Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity34trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09542958 2022-04-01 2023-03-31 09542958 2021-04-01 2022-03-31 09542958 2023-03-31 09542958 2022-03-31 09542958 c:Director1 2022-04-01 2023-03-31 09542958 d:CurrentFinancialInstruments 2023-03-31 09542958 d:CurrentFinancialInstruments 2022-03-31 09542958 d:Non-currentFinancialInstruments 2023-03-31 09542958 d:Non-currentFinancialInstruments 2022-03-31 09542958 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09542958 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09542958 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09542958 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09542958 d:ShareCapital 2023-03-31 09542958 d:ShareCapital 2022-03-31 09542958 d:RetainedEarningsAccumulatedLosses 2023-03-31 09542958 d:RetainedEarningsAccumulatedLosses 2022-03-31 09542958 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09542958 c:OrdinaryShareClass1 2023-03-31 09542958 c:OrdinaryShareClass1 2022-03-31 09542958 c:OrdinaryShareClass2 2022-04-01 2023-03-31 09542958 c:OrdinaryShareClass2 2023-03-31 09542958 c:OrdinaryShareClass2 2022-03-31 09542958 c:OrdinaryShareClass3 2022-04-01 2023-03-31 09542958 c:OrdinaryShareClass3 2023-03-31 09542958 c:OrdinaryShareClass3 2022-03-31 09542958 c:FRS102 2022-04-01 2023-03-31 09542958 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09542958 c:FullAccounts 2022-04-01 2023-03-31 09542958 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09542958 2 2022-04-01 2023-03-31 09542958 4 2022-04-01 2023-03-31 09542958 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09542958









FPC ELECTRIC LAND LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
FPC ELECTRIC LAND LIMITED
REGISTERED NUMBER: 09542958

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
10,280,610
6,614,612

  
10,280,610
6,614,612

Current assets
  

Debtors: amounts falling due within one year
 6 
7,174,756
9,021,607

Cash at bank and in hand
 7 
23,043
81,687

  
7,197,799
9,103,294

Creditors: amounts falling due within one year
 8 
(6,209,077)
(7,120,349)

Net current assets
  
 
 
988,722
 
 
1,982,945

Total assets less current liabilities
  
11,269,332
8,597,557

Creditors: amounts falling due after more than one year
 9 
(2,135,000)
(3,000,000)

  

Net assets
  
9,134,332
5,597,557


Capital and reserves
  

Called up share capital 
 10 
200
200

Profit and loss account
  
9,134,132
5,597,357

  
9,134,332
5,597,557


Page 1

 
FPC ELECTRIC LAND LIMITED
REGISTERED NUMBER: 09542958
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




B Lansman
Director

Date: 27 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FPC ELECTRIC LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

FPC Electric Land Limited is a private company limited by shares and incorporated in England and Wales (registered number: 09542958).
The registered office is 101 New Cavendish Street,1st Floor South, London, United Kingdom W1W 6XH and the principal place of business address is 14-16 Great Pulteney Street, London, W1F 9ND.
The principal activity of the company continued to be that of property investment.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
FPC ELECTRIC LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

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.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 4

 
FPC ELECTRIC LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgments, estimates and assumptions about the carrying values of assets and the liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revisions affect only that period, or in the period of the revisions and future periods if the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 4).


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
6,614,612


Additions
236,025


Revaluations
3,429,973



At 31 March 2023
10,280,610




Page 5

 
FPC ELECTRIC LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
7,166,363
9,009,635

Other debtors
-
395

Prepayments and accrued income
8,393
11,577

7,174,756
9,021,607



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
23,043
81,687

23,043
81,687



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
(2,851)
22,449

Amounts owed to group undertakings
5,782,464
7,066,752

Corporation tax
372,268
-

Other taxation and social security
16,166
5,805

Other creditors
15,158
19,596

Accruals and deferred income
25,872
5,747

6,209,077
7,120,349


Page 6

 
FPC ELECTRIC LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
2,135,000
3,000,000

2,135,000
3,000,000


The following liabilities were secured:




Details of security provided:

The bank loan was secured by way of first legal charge over the company's investment property and debenture incorporating a fixed and floating charge over all assets of the company and its subsidiary undertakings.


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



135 (2022 - 135) Ordinary 'A' shares of £1.00 each
135
135
45 (2022 - 45) Ordinary 'B' shares of £1.00 each
45
45
20 (2022 - 20) Ordinary 'C' shares of £1.00 each
20
20

200

200



11.


Related party transactions

Included within other debtors is £10,829,041 (2022:  £8,133,154) due from related parties.
Included within other creditors is £2,901,732 (2022: £2,902,417) due to related parties.


12.


Controlling party

The immediate parent entity is FPC Income & Growth PLC, a public company limited by shares incorporated in England and Wales (registered number: 09542958)
The registered office address of FPC Income & Growth PLC is  101 New Cavendish Street,1st Floor South, London, United Kingdom W1W 6XH..

 
Page 7