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REGISTERED NUMBER: 10881379 (England and Wales)















Financial Statements For The Year Ended 31st July 2023

for

Field Lane Properties Ltd

Field Lane Properties Ltd (Registered number: 10881379)






Contents of the Financial Statements
For The Year Ended 31st July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Field Lane Properties Ltd

Company Information
For The Year Ended 31st July 2023







DIRECTORS: N P Gaunt
Mrs L Gaunt





REGISTERED OFFICE: 41 Field Lane
Belper
Derbyshire
DE56 1DD





REGISTERED NUMBER: 10881379 (England and Wales)





ACCOUNTANTS: L& S Accountancy Services
64 High Street
Belper
Derbyshire
DE56 1GF

Field Lane Properties Ltd (Registered number: 10881379)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,678 -
Investment property 5 334,517 234,372
339,195 234,372

CURRENT ASSETS
Debtors 6 590 (3 )
Cash at bank 3,637 15,967
4,227 15,964
CREDITORS
Amounts falling due within one year 7 66,207 63,938
NET CURRENT LIABILITIES (61,980 ) (47,974 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

277,215

186,398

CREDITORS
Amounts falling due after more than one
year

8

(235,895

)

(134,475

)

PROVISIONS FOR LIABILITIES (12,121 ) (11,232 )
NET ASSETS 29,199 40,691

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 9 59,118 59,118
Retained earnings (29,921 ) (18,429 )
29,199 40,691

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Field Lane Properties Ltd (Registered number: 10881379)

Balance Sheet - continued
31st 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 9th April 2024 and were signed on its behalf by:





N P Gaunt - Director


Field Lane Properties Ltd (Registered number: 10881379)

Notes to the Financial Statements
For The Year Ended 31st July 2023

1. STATUTORY INFORMATION

Field Lane Properties 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.

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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Field Lane Properties Ltd (Registered number: 10881379)

Notes to the Financial Statements - continued
For The Year Ended 31st July 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 5,716
At 31st July 2023 5,716
DEPRECIATION
Charge for year 1,038
At 31st July 2023 1,038
NET BOOK VALUE
At 31st July 2023 4,678

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2022 234,372
Additions 100,145
At 31st July 2023 334,517
NET BOOK VALUE
At 31st July 2023 334,517
At 31st July 2022 234,372

Fair value at 31st July 2023 is represented by:
£   
Valuation in 2020 15,433
Valuation in 2021 22,685
Valuation in 2022 21,000
Cost 275,399
334,517

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 275,399 175,254

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 499 (98 )
Other debtors 91 95
590 (3 )

Field Lane Properties Ltd (Registered number: 10881379)

Notes to the Financial Statements - continued
For The Year Ended 31st July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1 -
Taxation and social security - 641
Other creditors 66,206 63,297
66,207 63,938

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 235,895 134,475

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 235,895 134,475

9. RESERVES
Fair
value
reserve
£   
At 1st August 2022
and 31st July 2023 59,118

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31.07.2023 the company owed to its directors Mr. N. and Mrs. L. Gaunt the sum of £64,705(31.07.2022 £62,366).