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REGISTERED NUMBER: 03600267 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Friar's Ford Development Limited

Friar's Ford Development Limited (Registered number: 03600267)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Friar's Ford Development Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mrs. Sally Elizabeth Woodall
Mr. Michael Alan Woodall
Mr. Thomas Paul Woodall





SECRETARY: Mr. Thomas Paul Woodall





REGISTERED OFFICE: Grange Cottage
Manor Road
Goring on Thames
Berkshire
RG8 9ED





REGISTERED NUMBER: 03600267 (England and Wales)





ACCOUNTANTS: Avalon Accounting Limited
12 Park Lane
Tilehurst
Reading
Berkshire
RG31 5DL

Friar's Ford Development Limited

Report of the Accountants to the Directors of
Friar's Ford Development Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Avalon Accounting Limited
12 Park Lane
Tilehurst
Reading
Berkshire
RG31 5DL


Date: .............................................

Friar's Ford Development Limited (Registered number: 03600267)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 39,749 30,831
Investment property 5 3,013,001 3,013,001
3,052,750 3,043,832

CURRENT ASSETS
Debtors 6 143,867 143,867
Cash at bank 43,607 182,632
187,474 326,499
CREDITORS
Amounts falling due within one year 7 (191,437 ) (154,707 )
NET CURRENT (LIABILITIES)/ASSETS (3,963 ) 171,792
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,048,787

3,215,624

CREDITORS
Amounts falling due after more than one year 8 (1,988,733 ) (2,008,476 )

PROVISIONS FOR LIABILITIES (341,441 ) (345,254 )
NET ASSETS 718,613 861,894

CAPITAL AND RESERVES
Called up share capital 9 75 82
Capital redemption reserve 10 25 18
Fair value reserve 10 1,457,879 1,457,879
Retained earnings 10 (739,366 ) (596,085 )
SHAREHOLDERS' FUNDS 718,613 861,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Friar's Ford Development Limited (Registered number: 03600267)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:





Mr. Thomas Paul Woodall - Director


Friar's Ford Development Limited (Registered number: 03600267)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Friar's Ford Development Limited 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.

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 as modified by the revaluation of certain assets.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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 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 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Hire Purchase installments are bifurcated into Principal and interest portion as per HP statements. Hire Purchase interest has been charged to profit and loss accounts on accrual basis and Hire Purchase liabilities have been reduced by monthly repayments of Principal amounts.

Friar's Ford Development Limited (Registered number: 03600267)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 12,718 1,462 102,057 399 116,636
Additions - - 29,750 - 29,750
Disposals - - (13,484 ) - (13,484 )
At 31 July 2023 12,718 1,462 118,323 399 132,902
DEPRECIATION
At 1 August 2022 12,514 1,404 71,497 390 85,805
Charge for year 51 14 13,181 2 13,248
Eliminated on disposal - - (5,900 ) - (5,900 )
At 31 July 2023 12,565 1,418 78,778 392 93,153
NET BOOK VALUE
At 31 July 2023 153 44 39,545 7 39,749
At 31 July 2022 204 58 30,560 9 30,831

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 3,013,001
NET BOOK VALUE
At 31 July 2023 3,013,001
At 31 July 2022 3,013,001

Friar's Ford Development Limited (Registered number: 03600267)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2006 540,636
Valuation in 2007 766,683
Valuation in 2011 662,681
Valuation in 2015 1,075,000
Valuation in 2018 30,000
Valuation in 2019 (605,691 )
Valuation in 2020 543,692
3,013,001

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,123,088 1,123,088

Certain properties were valued on an open market basis on 31 July 2021 by Paragon .

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Deposits 65,010 65,010

Amounts falling due after more than one year:
Advances 18,857 18,857
Loan 60,000 60,000
78,857 78,857

Aggregate amounts 143,867 143,867

Friar's Ford Development Limited (Registered number: 03600267)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,352 2,700
Other loans 14,335 14,335
Hire purchase contracts - 5,328
Social security and other tax 4,769 5,580
Other creditors 36,149 26,957
Intercompany account 38,025 34,570
Directors' current accounts 92,395 62,939
Accrued expenses 2,412 2,298
191,437 154,707

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans more than 1 year 2,312 6,809
Mortgages 1,986,421 1,986,421
Hire purchase contracts - 15,246
1,988,733 2,008,476

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 15,246

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
75 Ordinary £1 75 82

10. RESERVES
Capital Fair
Retained redemption value
earnings reserve reserve Totals
£    £    £    £   

At 1 August 2022 (596,085 ) 18 1,457,879 861,812
Deficit for the year (69,704 ) (69,704 )
Purchase of own shares (73,577 ) 7 - (73,570 )
At 31 July 2023 (739,366 ) 25 1,457,879 718,538

Friar's Ford Development Limited (Registered number: 03600267)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

11. RELATED PARTY DISCLOSURES

Details of related party transactions are given below:-

a. As at year end there is loan received from Friars Ford Estate Ltd £38,025 (P.Y.£34,570) in which Mr. Michael Alan Woodall, Mrs. Sally Elizabeth Woodall and Mr. Thomas Paul Woodall are also directors of the company.
Opening Balance as on 01.08.2022: - £34,570
Transaction During year- Loan Advanced: - £4,500
Transaction During year- Loan Repaid: - £1,045
Closing Balance as on 31.07.2023: - £38,025

12. PROFIT AND LOSS RESERVES

Retained earnings consist of fair value adjustments in relation to investment properties, capital redemption reserve, and Profit and Loss Account.

At the balance sheet date, the reserves therefore comprise of the following:
Distributable reserves (£739,366)
Non Distributable reserves £1,457,904 (relating to revaluation reserves of investment properties £1,457,879 and Capital redemption reserves of £25 of shares bought back in 2023)