IRIS Accounts Productionv24.1.0.57601514543Board of Directors1.4.2331.3.2431.3.24The company's principal business activity is the ownership and general administration of the industrial estate at Fallings Park, Wolverhampton.falsetruefalsefalsetruefalseOrdinary £1 Shares29.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh015145432023-03-31015145432024-03-31015145432023-04-012024-03-31015145432022-03-31015145432022-04-012023-03-31015145432023-03-3101514543ns15:EnglandWales2023-04-012024-03-3101514543ns14:PoundSterling2023-04-012024-03-3101514543ns10:Director12023-04-012024-03-3101514543ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3101514543ns10:SmallEntities2023-04-012024-03-3101514543ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3101514543ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3101514543ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101514543ns10:FullAccounts2023-04-012024-03-3101514543ns10:OrdinaryShareClass12023-04-012024-03-3101514543ns10:Director22023-04-012024-03-3101514543ns10:CompanySecretary12023-04-012024-03-3101514543ns10:RegisteredOffice2023-04-012024-03-3101514543ns5:CurrentFinancialInstruments2024-03-3101514543ns5:CurrentFinancialInstruments2023-03-3101514543ns5:RevaluationReserve2024-03-3101514543ns5:RevaluationReserve2023-03-3101514543ns5:RetainedEarningsAccumulatedLosses2024-03-3101514543ns5:RetainedEarningsAccumulatedLosses2023-03-3101514543ns5:LandBuildings2023-03-3101514543ns5:LandBuildings2024-03-3101514543ns5:LandBuildings2023-03-3101514543ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101514543ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101514543ns10:OrdinaryShareClass12024-03-3101514543ns5:RetainedEarningsAccumulatedLosses2023-03-3101514543ns5:RevaluationReserve2023-03-3101514543ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31

REGISTERED NUMBER: 01514543 (England and Wales)
















Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for


Fallings Park Industrial Estate Limited



Fallings Park Industrial Estate Limited (Registered number: 01514543)



Contents of the Financial Statements

for the Year Ended 31 March 2024











Page




Company Information  

1




Chairman’s Statement  

2




Report of the Directors  

3




Income Statement  

4




Balance Sheet  

5




Notes to the Financial Statements

6





Fallings Park Industrial Estate Limited



Company Information

for the Year Ended 31 March 2024









Directors:

M L Taylor


P J Hodgson







Secretary:

M Adamson







Registered office:

24 Old Burlington Street,


London


W1S 3AW







Registered number:

01514543 (England and Wales)







Accountants:

Benjamin Taylor Diner Limited


120 New Cavendish Street,


London


W1W 6XX



Fallings Park Industrial Estate Limited (Registered number: 01514543)



Chairman’s Statement

for the Year Ended 31 March 2024



General


Industrial property seems to remain in demand for both occupation and investment despite the wider political uncertainties and bank interest rate challenges. Many in the business world might welcome clear political direction following a General Election to allow greater certainty for business planning and decision making.


Financial Results


We have secured a modest increase in income by depositing some cash at enhanced rates whilst expenditure has remained controlled at previous year levels, hence a slightly improved net profit in the year. The trade debtor figure at year end is related to a timing issue and expected quickly to be reduced.   Significant legal expenditure on recovering monies due or other breaches of contract has been avoided.


Board Composition


Board membership has remained stable over the year.  The appointment of at least one additional director remains a priority.


The Estate


Security and estate safety remain priorities whilst unauthorised parking has become a recurrent issue.   Increasing building costs are an issue with implications for insurance costs.   Service charge expenditure is having to increase given rising costs and the need to maintain a positive appearance for the estate. The balance of units believed to be "owner-occupied" (15) compared to investor-underlet (14) has changed only marginally.


Professional Services


The joint experience of Jaggard Macland LLP and Benjamin Taylor Diner Ltd continues to benefit the company.




Martin Taylor

Chairman


17th July 2024



Fallings Park Industrial Estate Limited (Registered number: 01514543)



Report of the Directors

for the Year Ended 31 March 2024



The directors present their report with the financial statements of the company for the year ended 31 March 2024.  


Directors

The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.


M L Taylor

P J Hodgson


Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.


Company law requires the directors to prepare financial statements for each financial year.  Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.  In preparing these financial statements, the directors are required to:


-

select suitable accounting policies and then apply them consistently;

-

make judgements and accounting estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.


On behalf of the board:






M L Taylor - Director



17 July 2024



Fallings Park Industrial Estate Limited (Registered number: 01514543)



Income Statement

for the Year Ended 31 March 2024



31.3.24


31.3.23

£   

£   



Turnover

8,331


8,306




Administrative expenses

(6,478

)

(6,577

)


Operating profit

1,853


1,729




Interest receivable and similar income

278


45



Profit before taxation

2,131


1,774




Tax on profit

(53

)

(9

)


Profit for the financial year

2,078


1,765





Fallings Park Industrial Estate Limited (Registered number: 01514543)



Balance Sheet

31 March 2024



31.3.24


31.3.23


Notes

£   

£   


Fixed assets

Tangible assets

5

500


500




Current assets

Debtors

6

6,310


2,923



Cash at bank

19,915


22,013



26,225


24,936



Creditors

Amounts falling due within one year

7

(1,881

)

(2,670

)


Net current assets

24,344


22,266



Total assets less current liabilities

24,844


22,766




Capital and reserves

Called up share capital

8

29


29



Non-distributable fair value

9

500


500



Retained earnings

9

24,315


22,237



Shareholders' funds

24,844


22,766




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.  


The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2024 and were signed on its behalf by:






M L Taylor - Director




Fallings Park Industrial Estate Limited (Registered number: 01514543)



Notes to the Financial Statements

for the Year Ended 31 March 2024



1.

Statutory information



The Company is a private company limited by shares, incorporated in England and Wales. Its registered office is 24 Old Burlington Street, London, England, W1S 3AW.



The company's principal business activity is the ownership and general administration of the industrial estate at Fallings Park, Wolverhampton.


2.

Statement of compliance



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 are prepared in sterling, which is the functional currency of the entity.  


3.

Accounting policies



Basis of preparing the financial statements


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



Turnover


Turnover is defined as management charges and expenses recoverable.



Tangible fixed assets

The company's interest in its freehold property is recorded at a nominal valuation.


Going concern


After making enquiries the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.


4.

Employees and directors



The average number of employees during the year was 3 (2023 - 3 ) .


5.

Tangible fixed assets


Land and


buildings

£   



Cost


At 1 April 2023


and 31 March 2024

500




Net book value


At 31 March 2024

500




At 31 March 2023

500




The value of the company's interest in its freehold property is shown at a purely nominal value as the principal income producing interest in that property, comprising the industrial buildings on the site, is subject to long leases at nominal ground rent.

The remainder of the property is not generally open to beneficial use, as it is subject to rights of way in favour of the tenants of the industrial buildings.



Fallings Park Industrial Estate Limited (Registered number: 01514543)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024



6.

Debtors: amounts falling due within one year



31.3.24


31.3.23

£   

£   



Trade debtors

5,832


968




VAT

370


1,847




Prepayments and accrued income

108


108



6,310


2,923




7.

Creditors: amounts falling due within one year



31.3.24


31.3.23

£   

£   



Tax

54


9




Other creditors

1,067


1,901




Accruals and deferred income

760


760



1,881


2,670




8.

Called up share capital



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.3.24


31.3.23


value:

£   

£   



29

Ordinary £1 Shares

29

29


29




Share Capital

Called-up share capital represents the nominal value of shares that have been issued.

9.

Reserves


Non-distributable



Retained


fair



earnings


value


Totals

£   

£   

£   




At 1 April 2023

22,237


500


22,737




Profit for the year

2,078


2,078




At 31 March 2024

24,315


500


24,815




Retained earnings reserve records retained earnings and accumulated losses.

The Non-distributable fair value reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.

10.

Related party disclosures


During the year Martin Taylor Associates Limited, a company in which M.L. Taylor is a director and shareholder, invoiced Fallings Park Industrial Estate Limited £2,000 (2023: £2,000) for services provided. As at 31st March 2024: £Nil (2023: £Nil) was owed to Martin Taylor Associates Limited.



Fallings Park Industrial Estate Limited (Registered number: 01514543)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024



11.

Ultimate controlling party


The company is controlled by a voting majority of its members: there is no controlling related party. Management expenses are recovered from the members, including directors where applicable.