Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-312022-08-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12103591 2022-08-01 2023-07-31 12103591 2021-08-01 2022-07-31 12103591 2023-07-31 12103591 2022-07-31 12103591 c:Director1 2022-08-01 2023-07-31 12103591 d:FreeholdInvestmentProperty 2023-07-31 12103591 d:FreeholdInvestmentProperty 2022-07-31 12103591 d:CurrentFinancialInstruments 2023-07-31 12103591 d:CurrentFinancialInstruments 2022-07-31 12103591 d:Non-currentFinancialInstruments 2023-07-31 12103591 d:Non-currentFinancialInstruments 2022-07-31 12103591 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12103591 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12103591 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 12103591 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 12103591 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 12103591 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 12103591 d:ShareCapital 2023-07-31 12103591 d:ShareCapital 2022-07-31 12103591 d:RetainedEarningsAccumulatedLosses 2023-07-31 12103591 d:RetainedEarningsAccumulatedLosses 2022-07-31 12103591 c:FRS102 2022-08-01 2023-07-31 12103591 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12103591 c:FullAccounts 2022-08-01 2023-07-31 12103591 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12103591 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Company registration number: 12103591







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2023


FUSSELL & EARTH LTD






































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FUSSELL & EARTH LTD
REGISTERED NUMBER:12103591



STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
327,088
327,088

  
327,088
327,088

Current assets
  

Debtors: amounts falling due within one year
  
-
8,803

Bank and cash balances
  
991
1,243

  
991
10,046

Creditors: amounts falling due within one year
 6 
(6,463)
(2,026)

Net current (liabilities)/assets
  
 
 
(5,472)
 
 
8,020

Total assets less current liabilities
  
321,616
335,108

Creditors: amounts falling due after more than one year
 7 
(375,068)
(372,534)

  

Net liabilities
  
(53,452)
(37,426)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(53,552)
(37,526)

  
(53,452)
(37,426)


Page 1

 


FUSSELL & EARTH LTD
REGISTERED NUMBER:12103591


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
F B Wallis
Director

Date: 29 July 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


FUSSELL & EARTH LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Fussell & Earth 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.
The presentation currency of the financial statements is the Pound Sterling (£). 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have undertaken to continue their financial support of the company for the foreseeable future. On this basis they believe it is appropriate to prepare these accounts on a going concern basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

  
2.4

Revenue recognition

Rental income is recognised in the income statement on a straight line basis over the year in which the rental relates.

Page 3

 


FUSSELL & EARTH LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 


FUSSELL & EARTH LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
327,088



At 31 July 2023
327,088


Comprising


Cost
327,088

At 31 July 2023
327,088

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
327,088
327,088

327,088
327,088


5.


Debtors

2023
2022
£
£


Deferred taxation
-
8,803

-
8,803



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
5,713
1,276

Accruals and deferred income
750
750

6,463
2,026


Page 5

 


FUSSELL & EARTH LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
71,450
71,450

Other loans
39,526
48,724

Other creditors
264,092
252,360

375,068
372,534


The following liabilities were secured:

2023
2022
£
£



Bank loans
71,450
71,450

71,450
71,450

Details of security provided:

The bank loan and other facilities are secured by a fixed charge over the company's assets.


8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
5,713
1,276


5,713
1,276

Amounts falling due 1-2 years

Bank loans
71,450
71,450

Other loans
39,526
48,724


110,976
120,174



116,689
121,450



9.


Transactions with directors

At the balance sheet date the company owed £264,092 (2022: £252,360) to the directors. The balance can be found within creditors due in more than one year. No interest is being charged on this loan.

 
Page 6