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REGISTERED NUMBER: 05201488 (England and Wales)















FELLSIDE ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FELLSIDE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: N A Mason
Mrs L E Seago
Mrs R Mason
T N Mason





SECRETARY: Mrs P V Mason





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 05201488 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,516 3,011
Investment property 5 10,725,000 10,680,000
10,727,516 10,683,011

CURRENT ASSETS
Debtors 6 195,734 199,594
Cash at bank and in hand 1,724,663 1,587,078
1,920,397 1,786,672
CREDITORS
Amounts falling due within one year 7 534,506 512,672
NET CURRENT ASSETS 1,385,891 1,274,000
TOTAL ASSETS LESS CURRENT LIABILITIES 12,113,407 11,957,011

CREDITORS
Amounts falling due after more than one year 8 (568,143 ) (568,143 )

PROVISIONS FOR LIABILITIES (545,454 ) (535,408 )
NET ASSETS 10,999,810 10,853,460

CAPITAL AND RESERVES
Called up share capital 9 6,600 6,600
Share premium 2,193,500 2,193,500
Fair value adjustment reserve 2,854,186 2,829,630
Retained earnings 5,945,524 5,823,730
10,999,810 10,853,460

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

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

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 10 July 2024 and were signed on its behalf by:





Mrs R Mason - Director


FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

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

1. STATUTORY INFORMATION

Fellside Estates 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.

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


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.

Revenue
Revenue represents rents, management charges, commissions received and property development sales by the company during the year, excluding VAT.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% on cost
Computer equipment - 33% on cost

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 Statement of Financial Position date.


FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Poistion 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.

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 the income statement in the period to which they relate.

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and the outstanding future lease obligations are shown in creditors. Operating lease rentals are charged to the income statement on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures,
fittings
and Computer
equipment equipment Totals
£    £    £   
COST
At 1 January 2023 20,898 24,418 45,316
Additions 199 1,695 1,894
At 31 December 2023 21,097 26,113 47,210
DEPRECIATION
At 1 January 2023 20,898 21,407 42,305
Charge for year 46 2,343 2,389
At 31 December 2023 20,944 23,750 44,694
NET BOOK VALUE
At 31 December 2023 153 2,363 2,516
At 31 December 2022 - 3,011 3,011

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 10,680,000
Additions 14,817
Revaluations 30,183
At 31 December 2023 10,725,000
NET BOOK VALUE
At 31 December 2023 10,725,000
At 31 December 2022 10,680,000

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 10,725,000

The company's investment properties were valued on an open market basis by N A Mason FRICS and T N Mason MRICS, directors, as at 31 December 2023.

In accordance with RICS valuation standards, the valuation was prepared having regard to market based evidence for similar properties sold in the local area, subject to the occupational leases. The valuation principally focussed on a continuation of the existing use, having regard to the current tenancy position and a rent yield approach.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 86,438 130,097
Other debtors 109,296 69,497
195,734 199,594

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 164,686 135,705
Taxation and social security 115,423 120,548
Other creditors 254,397 256,419
534,506 512,672

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 568,143 568,143

9. CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £

3,700 Ordinary A £1 3,700 3,700
1,400 Ordinary B £1 1,400 1,400
500 Ordinary C £1 500 500
500 Ordinary D £1 500 500
500 Ordinary E £1 500 500

6,600 6,600

FELLSIDE ESTATES LIMITED (REGISTERED NUMBER: 05201488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. OTHER FINANCIAL COMMITMENTS

At the year end the company has commitments due as follows:

20232022
££
Within one year16,97816,978
2 - 5 years12,73429,712
29,71246,690

11. POST BALANCE SHEET EVENTS

Dividends of £126,000 were also paid in respect of the year ended 31 December 2024 and are not accounted for in these financial statements. These dividends will be reflected in shareholders equity as an appropriation of retained earnings in the year ended 31 December 2024.