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REGISTERED NUMBER: 11224685 (England and Wales)








Unaudited Financial Statements

for the Year Ended 29 February 2024

for

FelDav Developments Limited

FelDav Developments Limited (Registered number: 11224685)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FelDav Developments Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: H Felske
J Davies





SECRETARY: C & A Company Secretarial Services Limited





REGISTERED OFFICE: St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN





REGISTERED NUMBER: 11224685 (England and Wales)





ACCOUNTANTS: Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN

FelDav Developments Limited (Registered number: 11224685)

Abridged Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,036 -
Tangible assets 5 78,040 108,775
Investment property 6 3,251,208 3,242,180
3,341,284 3,350,955

CURRENT ASSETS
Debtors 159,720 311,527
Cash at bank 11,478 85,682
171,198 397,209
CREDITORS
Amounts falling due within one year 29,746 111,675
NET CURRENT ASSETS 141,452 285,534
TOTAL ASSETS LESS CURRENT LIABILITIES 3,482,736 3,636,489

PROVISIONS FOR LIABILITIES 45,788 -
NET ASSETS 3,436,948 3,636,489

CAPITAL AND RESERVES
Called up share capital 7 3,097,128 3,097,128
Retained earnings 339,820 539,361
SHAREHOLDERS' FUNDS 3,436,948 3,636,489

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

FelDav Developments Limited (Registered number: 11224685)

Abridged Balance Sheet - continued
29 February 2024


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 year ended 29 February 2024 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 Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





H Felske - Director


FelDav Developments Limited (Registered number: 11224685)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

FelDav Developments 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.

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.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

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

FelDav Developments Limited (Registered number: 11224685)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors
Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable.

Trade creditors
Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year.

Equity instruments
Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 balance sheet date.

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 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 profit or loss in the period to which they relate.

FelDav Developments Limited (Registered number: 11224685)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 13,300
At 29 February 2024 13,300
AMORTISATION
Amortisation for year 1,264
At 29 February 2024 1,264
NET BOOK VALUE

At 29 February 2024 12,036

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 146,741
Additions 6,825
At 29 February 2024 153,566
DEPRECIATION
At 1 March 2023 37,966
Charge for year 37,560
At 29 February 2024 75,526
NET BOOK VALUE
At 29 February 2024 78,040
At 28 February 2023 108,775

FelDav Developments Limited (Registered number: 11224685)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 3,242,180
Additions 9,028
At 29 February 2024 3,251,208
NET BOOK VALUE
At 29 February 2024 3,251,208
At 28 February 2023 3,242,180

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 410,419
Cost 2,840,789
3,251,208

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
3,097,028 Preference £1 3,097,028 3,097,028
3,097,128 3,097,128

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
J Davies
Balance outstanding at start of year 55,235 32,164
Amounts advanced 23,400 23,071
Amounts repaid (25,368 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,267 55,235

FelDav Developments Limited (Registered number: 11224685)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

H Felske
Balance outstanding at start of year - -
Amounts advanced 49,470 -
Amounts repaid (21,249 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,221 -

The above represents the highest balance in the year. Interest has been charged on the balance owed by the director at the HMRC approved rate. The loan is unsecured and repayable on demand.