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REGISTERED NUMBER: 11193571 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

FULLWELL INVESTMENTS LTD

FULLWELL INVESTMENTS LTD (REGISTERED NUMBER: 11193571)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FULLWELL INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: M Rothbart





REGISTERED OFFICE: 20 Warwick Grove
London
E5 9HU





REGISTERED NUMBER: 11193571 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

FULLWELL INVESTMENTS LTD (REGISTERED NUMBER: 11193571)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 804 946
Investment property 6 1,373,724 914,806
1,374,528 915,752

CURRENT ASSETS
Debtors 7 54,645 54,645
Cash at bank 8,423 1,691
63,068 56,336
CREDITORS
Amounts falling due within one year 8 (497,801 ) (328,400 )
NET CURRENT LIABILITIES (434,733 ) (272,064 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

939,795

643,688

CREDITORS
Amounts falling due after more than one
year

9

(908,411

)

(620,440

)
NET ASSETS 31,384 23,248

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 13 31,383 23,247
SHAREHOLDERS' FUNDS 31,384 23,248

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FULLWELL INVESTMENTS LTD (REGISTERED NUMBER: 11193571)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorized for issue by the director and authorised for issue on 24 November 2023 and were signed by:





M Rothbart - Director


FULLWELL INVESTMENTS LTD (REGISTERED NUMBER: 11193571)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Fullwell Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

FULLWELL INVESTMENTS LTD (REGISTERED NUMBER: 11193571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022
and 28 February 2023 1,541
DEPRECIATION
At 1 March 2022 595
Charge for year 142
At 28 February 2023 737
NET BOOK VALUE
At 28 February 2023 804
At 28 February 2022 946

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 914,806
Additions 458,918
At 28 February 2023 1,373,724
NET BOOK VALUE
At 28 February 2023 1,373,724
At 28 February 2022 914,806

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 54,645 54,645

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 7,548 5,606
Other creditors 490,253 322,794
497,801 328,400

FULLWELL INVESTMENTS LTD (REGISTERED NUMBER: 11193571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 10) 878,835 586,783
Other creditors 29,576 33,657
908,411 620,440

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 878,835 586,783

Repayable by instalments
Other loans more 5yrs instal - 33,657

Other creditors include outstanding Bounceback loan payable of £29,576 [2022 - £33,657]. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 29,576 -

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 878,835 586,783

Repayable by instalments
Other loans more 5yrs instal - 33,657

11. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 878,835 586,783

Bank loan is secured by first charge over the investment property of the company.

FULLWELL INVESTMENTS LTD (REGISTERED NUMBER: 11193571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1 Ordinary 1 1 1

13. RESERVES
Retained
earnings
£   

At 1 March 2022 23,247
Profit for the year 8,136
At 28 February 2023 31,383

14. ULTIMATE CONTROLLING PARTY

The controlling party is M Rothbart.