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REGISTERED NUMBER: 04580935 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Felstone Limited

Felstone Limited (Registered number: 04580935)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Felstone Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Miss A Vezendi
E M Baldy





REGISTERED OFFICE: Integrated Glueing Technology
3 Lancaster Park Industrial Estate
Bowerhill
Melksham
Wiltshire
SN12 6TT





REGISTERED NUMBER: 04580935 (England and Wales)

Felstone Limited (Registered number: 04580935)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,044 2,831
Investments 5 889,125 889,125
Investment property 6 500,000 393,902
1,391,169 1,285,858

CURRENT ASSETS
Stocks 173,058 173,058
Debtors 7 1,540,185 1,462,740
Cash at bank 533,891 501,673
2,247,134 2,137,471
CREDITORS
Amounts falling due within one year 8 182,774 251,107
NET CURRENT ASSETS 2,064,360 1,886,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,455,529

3,172,222

PROVISIONS FOR LIABILITIES 21,236 -
NET ASSETS 3,434,293 3,172,222

CAPITAL AND RESERVES
Called up share capital 701 701
Share premium 804,300 804,300
Other reserves 83,001 -
Retained earnings 2,546,291 2,367,221
SHAREHOLDERS' FUNDS 3,434,293 3,172,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:



E M Baldy - Director


Felstone Limited (Registered number: 04580935)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Felstone 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 net invoiced value of management services provided, excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are held at cost less any accumulated impairment losses.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with an change recognised in the profit and loss account.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.


Felstone Limited (Registered number: 04580935)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 568 15,280 249 16,097
Disposals - - (249 ) (249 )
At 30 November 2023 568 15,280 - 15,848
DEPRECIATION
At 1 December 2022 562 12,560 144 13,266
Charge for year 2 680 - 682
Eliminated on disposal - - (144 ) (144 )
At 30 November 2023 564 13,240 - 13,804
NET BOOK VALUE
At 30 November 2023 4 2,040 - 2,044
At 30 November 2022 6 2,720 105 2,831

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 889,125
NET BOOK VALUE
At 30 November 2023 889,125
At 30 November 2022 889,125

Felstone Limited (Registered number: 04580935)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 393,902
Revaluations 106,098
At 30 November 2023 500,000
NET BOOK VALUE
At 30 November 2023 500,000
At 30 November 2022 393,902

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 106,098
Cost 393,902
500,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 393,902 393,902

Investment property was valued on an open market basis on 30 November 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 746
Amounts owed by group undertakings 1,539,206 1,459,100
Deferred tax asset - 1,816
Prepayments and accrued income 979 1,078
1,540,185 1,462,740

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 139,603 152,355
Taxation 17,553 74,985
Social security and other taxes 9,001 8,816
Other creditors 1,450 1,263
Net wages due 137 137
Accruals and deferred income 15,030 13,551
182,774 251,107

Felstone Limited (Registered number: 04580935)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
K B Baldy
Balance outstanding at start of year - 719,100
Amounts repaid - (719,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above balance was repaid on 22 March 2022.