Company registration number 11970570 (England and Wales)
FERDOTTI VENTURES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FERDOTTI VENTURES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
FERDOTTI VENTURES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
967,810
853,950
Current assets
Debtors
4
53,380
32,080
Investments
5
563,717
295,224
Cash at bank and in hand
2,481
8,983
619,578
336,287
Creditors: amounts falling due within one year
6
(997,741)
(797,625)
Net current liabilities
(378,163)
(461,338)
Total assets less current liabilities
589,647
392,612
Provisions for liabilities
(108,572)
(54,947)
Net assets
481,075
337,665
Capital and reserves
Called up share capital
7
1
1
Non-distributable profits reserve
8
331,590
240,120
Distributable profit and loss reserves
149,484
97,544
Total equity
481,075
337,665

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

FERDOTTI VENTURES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 June 2024
Mr Timothy Guidotti
Director
Company Registration No. 11970570
FERDOTTI VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Ferdotti Ventures Limited is a private company limited by shares incorporated in England and Wales. The registered office is 40 Pleasant Street, The Lyng, West Bromwich, West Midlands, B70 7DP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The following assets and liabilities are classified as financial instruments – trade debtors, current asset investments, trade creditors and directors’ loans.

Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Current asset investments are included at market value.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.

FERDOTTI VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 1 December 2022
853,950
Revaluations
113,860
At 30 November 2023
967,810

The fair value of the investment property is the directors considered open market valuation.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
17,825
21,429
Other debtors
35,555
10,651
53,380
32,080
FERDOTTI VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
5
Current asset investments
2023
2022
£
£
Other investments
563,717
295,224
Investments comprise equities and loan stock investments. These have been revalued in the accounts to reflect market value.
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
589
Amounts owed to group undertakings
972,999
772,999
Corporation tax
13,522
10,699
Other taxation and social security
720
2,938
Other creditors
10,500
10,400
997,741
797,625
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
8
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
240,120
256,608
Non distributable profits in the year
91,470
(16,488)
At the end of the year
331,590
240,120
9
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The company has received rent from Ferdotti Motor Services Limited, a company which Mr T Guidotti is a director and is wholly owned by Ferdotti Holdings Ltd. Rent was received on normal commercial terms and the total rent received for this year was £24,600 (2022: £24,600).

 

At the balance sheet date an amount of £17,825 was due from Ferdotti Motor Services Limited.

 

FERDOTTI VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
10
Parent company

The ultimate parent company is Ferdotti Holdings Ltd, a company registered in England and Wales.

 

At the balance sheet date an amount of £972,999 was due to Ferdotti Holdings Ltd.

 

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