REGISTERED NUMBER: |
Farslea Holdings Limited |
Unaudited Financial Statements for the Year Ended 28th February 2023 |
REGISTERED NUMBER: |
Farslea Holdings Limited |
Unaudited Financial Statements for the Year Ended 28th February 2023 |
Farslea Holdings Limited (Registered number: 08690160) |
Contents of the Financial Statements |
for the year ended 28th February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Farslea Holdings Limited |
Company Information |
for the year ended 28th February 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Farslea Holdings Limited (Registered number: 08690160) |
Balance Sheet |
28th February 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Farslea Holdings Limited (Registered number: 08690160) |
Notes to the Financial Statements |
for the year ended 28th February 2023 |
1. | STATUTORY INFORMATION |
Farslea Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Farslea Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Income |
Rental income is measured at the fair value of the consideration received or receivable net of VAT and discounts. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Farslea Holdings Limited (Registered number: 08690160) |
Notes to the Financial Statements - continued |
for the year ended 28th February 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st March 2022 |
Additions |
At 28th February 2023 |
DEPRECIATION |
At 1st March 2022 |
Charge for year |
At 28th February 2023 |
NET BOOK VALUE |
At 28th February 2023 |
At 28th February 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st March 2022 |
and 28th February 2023 |
NET BOOK VALUE |
At 28th February 2023 |
At 28th February 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Farslea Holdings Limited (Registered number: 08690160) |
Notes to the Financial Statements - continued |
for the year ended 28th February 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | 1 | 76 | 76 |
Ordinary B | 1 | 19 | 19 |
Ordinary C | 1 | 5 | 5 |
100 | 100 |
During the year, a resolution was passed to reclassify 100 Ordinary shares into 76 A Ordinary shares, 19 B Ordinary shares and 5 C Ordinary shares, with all classes ranking pari passu. |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 28 February 2023, one of the directors owed the company £208,695 (2022 £21,120). |
10. | RELATED PARTY DISCLOSURES |
During the year the company rented land and property to and received dividends from its subsidiary companies, who have common directorships, as follows: |
Rents charged £36,000 (2022: £36,000) |
Dividends received £715,000 (2022: £820,000) |