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REGISTERED NUMBER: 08952935 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 31 MARCH 2022 TO 29 MARCH 2023

FOR

FOGARTY INVESTMENTS LTD

FOGARTY INVESTMENTS LTD (REGISTERED NUMBER: 08952935)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 MARCH 2022 TO 29 MARCH 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FOGARTY INVESTMENTS LTD

COMPANY INFORMATION
FOR THE PERIOD 31 MARCH 2022 TO 29 MARCH 2023







DIRECTOR: Mr B P Fogarty





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 08952935 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

FOGARTY INVESTMENTS LTD (REGISTERED NUMBER: 08952935)

ABRIDGED BALANCE SHEET
29 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,000 -
Investment property 5 1,155,199 837,503
1,156,199 837,503

CURRENT ASSETS
Debtors 1,148 1,148
Cash at bank and in hand 99,563 4,625
100,711 5,773
CREDITORS
Amounts falling due within one year 192,306 31,495
NET CURRENT LIABILITIES (91,595 ) (25,722 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,064,604

811,781

CREDITORS
Amounts falling due after more than one year 6 1,026,216 783,919
NET ASSETS 38,388 27,862

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 37,388 26,862
SHAREHOLDERS' FUNDS 38,388 27,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FOGARTY INVESTMENTS LTD (REGISTERED NUMBER: 08952935)

ABRIDGED BALANCE SHEET - continued
29 MARCH 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 29 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





Mr B P Fogarty - Director


FOGARTY INVESTMENTS LTD (REGISTERED NUMBER: 08952935)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 MARCH 2022 TO 29 MARCH 2023


1. STATUTORY INFORMATION

Fogarty Investments 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

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.

Preparation of consolidated financial statements
The financial statements contain information about Fogarty Investments Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the value of rental income chargeable in respect of the company's investment propeties. Turnover is recognised evenly over the period of the rental agreement.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

Taxation
Taxation for the period 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.


FOGARTY INVESTMENTS LTD (REGISTERED NUMBER: 08952935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 MARCH 2022 TO 29 MARCH 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 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 period 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 period was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
Additions 1,000
At 29 March 2023 1,000
NET BOOK VALUE
At 29 March 2023 1,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Fogarty Freehold Ltd
Registered office: C/O Michael Filiou Ltd, Salisbury House, 81 High Street, Potters Bar, Hertfordshire, EN6 5AS
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00

FOGARTY INVESTMENTS LTD (REGISTERED NUMBER: 08952935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 MARCH 2022 TO 29 MARCH 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2022 837,503
Additions 317,697
Disposals (1 )
At 29 March 2023 1,155,199
NET BOOK VALUE
At 29 March 2023 1,155,199
At 30 March 2022 837,503

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Bank loans 625,733 339,438

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 625,733 339,438

The bank loans are secured by way of fixed charge on the investment properties held in the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. RELATED PARTY DISCLOSURES

Tedale Properties Limited
At the balance sheet date, Fogarty Investments Ltd owed Tedale Properties Ltd, a company in which Mr Byron Fogarty is also a director and 99% shareholder, owed £171,141 (2022: £16,479), to Tedale Properties Ltd. This is an unsecured interest-free loan which is repayable on demand.

FOGARTY INVESTMENTS LTD (REGISTERED NUMBER: 08952935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 MARCH 2022 TO 29 MARCH 2023


10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr B P Fogarty.

The director, Mr Byron Fogarty, is the controlling party by the virtue of him holding 100% of the company's issued share capital.