Silverfin false 31/03/2023 01/04/2022 31/03/2023 C J Gardner H P Mallory J A Roberts P Watts 03 October 2023 The principal activity of the Company during the financial year was of an investment holding company. 10396488 2023-03-31 10396488 2022-03-31 10396488 core:CurrentFinancialInstruments 2023-03-31 10396488 core:CurrentFinancialInstruments 2022-03-31 10396488 core:Non-currentFinancialInstruments 2023-03-31 10396488 core:Non-currentFinancialInstruments 2022-03-31 10396488 core:ShareCapital 2023-03-31 10396488 core:ShareCapital 2022-03-31 10396488 core:RetainedEarningsAccumulatedLosses 2023-03-31 10396488 core:RetainedEarningsAccumulatedLosses 2022-03-31 10396488 core:CostValuation 2022-03-31 10396488 core:CostValuation 2023-03-31 10396488 core:AdditionsToInvestments 2023-03-31 10396488 core:DisposalsRepaymentsInvestments 2023-03-31 10396488 core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 10396488 core:ProvisionsForImpairmentInvestments 2022-03-31 10396488 core:ProvisionsForImpairmentInvestments 2023-03-31 10396488 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-03-31 10396488 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2022-03-31 10396488 bus:OrdinaryShareClass1 2023-03-31 10396488 2022-04-01 2023-03-31 10396488 bus:FullAccounts 2022-04-01 2023-03-31 10396488 bus:SmallEntities 2022-04-01 2023-03-31 10396488 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10396488 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10396488 bus:Director1 2022-04-01 2023-03-31 10396488 bus:Director2 2022-04-01 2023-03-31 10396488 bus:Director3 2022-04-01 2023-03-31 10396488 bus:Director4 2022-04-01 2023-03-31 10396488 2021-04-01 2022-03-31 10396488 core:Subsidiary1 2022-04-01 2023-03-31 10396488 core:Subsidiary1 1 2022-04-01 2023-03-31 10396488 core:Subsidiary1 1 2021-04-01 2022-03-31 10396488 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10396488 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 10396488 (England and Wales)

FIG TREE COURT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

FIG TREE COURT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

FIG TREE COURT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
FIG TREE COURT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 3,940,000 3,940,000
Investments 4 819,728 831,766
4,759,728 4,771,766
Current assets
Debtors
- due within one year 5 7,687 1,919
- due after more than one year 5 110,000 110,000
Cash at bank and in hand 253,268 286,767
370,955 398,686
Creditors: amounts falling due within one year 6 ( 105,120) ( 105,829)
Net current assets 265,835 292,857
Total assets less current liabilities 5,025,563 5,064,623
Provision for liabilities ( 479,402) ( 479,960)
Net assets 4,546,161 4,584,663
Capital and reserves
Called-up share capital 7 4,891,651 4,891,651
Profit and loss account ( 345,490 ) ( 306,988 )
Total shareholders' funds 4,546,161 4,584,663

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Fig Tree Court Limited (registered number: 10396488) were approved and authorised for issue by the Director on 03 October 2023. They were signed on its behalf by:

H P Mallory
Director
FIG TREE COURT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
FIG TREE COURT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fig Tree Court Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Queen Square, Bath, BA1 2HN, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Rental income from investment property leased out under operating leases is recognised in the statement of income and retained earnings on a straight-line basis over the term of the lease.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 3,940,000
As at 31 March 2023 3,940,000

4. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 1 1
Other investments and loans 819,727 831,765
819,728 831,766

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 1
At 31 March 2023 1
Carrying value at 31 March 2023 1
Carrying value at 31 March 2022 1
Listed investments Total
£ £
Carrying value before impairment
At 01 April 2022 831,765 831,765
Additions 53,839 53,839
Disposals ( 56,774) ( 56,774)
Movement in fair value ( 9,103) ( 9,103)
At 31 March 2023 819,727 819,727
Provisions for impairment
At 01 April 2022 0 0
At 31 March 2023 0 0
Carrying value at 31 March 2023 819,727 819,727
Carrying value at 31 March 2022 831,765 831,765

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
31.03.2023
Ownership
31.03.2022
Fig Tree Court Investments 14 Queen Square Investment Company Ordinary 100.00% 100.00%

5. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Amounts owed by fellow subsidiaries 4,774 0
Accrued income 2,913 2,245
Other debtors 0 ( 326)
7,687 1,919
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 110,000 110,000

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to fellow subsidiaries 0 1,529
Corporation tax 35,000 33,853
Other creditors 70,120 70,447
105,120 105,829

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
4,891,651 Ordinary shares of £ 1.00 each 4,891,651 4,891,651

Included within the profit and loss account are unrealised losses of £404,508 (2022: £395,983). Unrealised profits and losses arise on fair value movements of fixed asset investments and are accumulated within the profit of loss reserve net of deferred tax. Unrealised reserves are non-distributable.

8. Related party transactions

At the year end the company was owed £115,774 (2022: £110,000) by its subsidiary company.

At the year end the company owed £nil (2022: £1,529) to its subsidiary company.