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REGISTERED NUMBER: 10032934















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

FERNDALE ESTATES LIMITED

FERNDALE ESTATES LIMITED (REGISTERED NUMBER: 10032934)






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


FERNDALE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: S Roitenbarg





REGISTERED OFFICE: 1 Ferndale Road
London
N15 6UF





REGISTERED NUMBER: 10032934





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

FERNDALE ESTATES LIMITED (REGISTERED NUMBER: 10032934)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Investment property 4 1,649,683 1,649,683

CURRENT ASSETS
Debtors 5 214,366 221,164
Cash at bank 17,672 23,210
232,038 244,374
CREDITORS
Amounts falling due within one year 6 (732,630 ) (732,122 )
NET CURRENT LIABILITIES (500,592 ) (487,748 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,149,091

1,161,935

CREDITORS
Amounts falling due after more than one
year

7

(1,064,590

)

(1,029,967

)
NET ASSETS 84,501 131,968

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 84,500 131,967
SHAREHOLDERS' FUNDS 84,501 131,968

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.

FERNDALE ESTATES LIMITED (REGISTERED NUMBER: 10032934)

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 by the director and authorised for issue on 29 November 2023 and were signed by:





S Roitenbarg - Director


FERNDALE ESTATES LIMITED (REGISTERED NUMBER: 10032934)

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

1. STATUTORY INFORMATION

Ferndale Estates Limited is a private company, limited by shares , registered in Not specified/Other. 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. ACCOUNTING POLICIES

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

Turnover
Turnover represents net rent receivable, excluding value added tax.

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.

3. EMPLOYEES AND DIRECTORS

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

FERNDALE ESTATES LIMITED (REGISTERED NUMBER: 10032934)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,649,683
NET BOOK VALUE
At 28 February 2023 1,649,683
At 28 February 2022 1,649,683

The director has confirmed that there is no significant increase or decrease in the property market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 49,271 56,069
Other debtors 165,095 165,095
214,366 221,164

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Tax 13,311 31,496
Social security and other taxes 28 28
Other creditors 697,021 698,298
Tenant deposit 18,650 -
Accrued expenses 3,620 2,300
732,630 732,122

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans more 5 yr by instal 500,903 510,376
Bank loans more 5 yrs non-inst 536,538 488,697
Other loans - 2-5 years 27,149 -
Other loans more 5yrs instal - 30,894
1,064,590 1,029,967

FERNDALE ESTATES LIMITED (REGISTERED NUMBER: 10032934)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
28.2.23 28.2.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 536,538 488,697

Repayable by instalments
Bank loans more 5 yr by instal 500,903 510,376
Other loans more 5yrs instal - 30,894
500,903 541,270

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 1,037,441 999,073

1.Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates

2. Under the bank loan, £27,149 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

9. CALLED UP SHARE CAPITAL

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

10. RESERVES
Retained
earnings
£   

At 1 March 2022 131,967
Deficit for the year (47,467 )
At 28 February 2023 84,500

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Roitenbarg.