IRIS Accounts Production v24.2.0.383 09788563 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh097885632023-02-28097885632024-02-29097885632023-03-012024-02-29097885632022-02-28097885632022-03-012023-02-28097885632023-02-2809788563ns15:EnglandWales2023-03-012024-02-2909788563ns14:PoundSterling2023-03-012024-02-2909788563ns10:Director12023-03-012024-02-2909788563ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2909788563ns10:SmallEntities2023-03-012024-02-2909788563ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2909788563ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2909788563ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2909788563ns10:FullAccounts2023-03-012024-02-290978856312023-03-012024-02-2909788563ns10:Director22023-03-012024-02-2909788563ns10:Director32023-03-012024-02-2909788563ns10:RegisteredOffice2023-03-012024-02-2909788563ns5:CurrentFinancialInstruments2024-02-2909788563ns5:CurrentFinancialInstruments2023-02-2809788563ns5:Non-currentFinancialInstruments2024-02-2909788563ns5:Non-currentFinancialInstruments2023-02-2809788563ns5:ShareCapital2024-02-2909788563ns5:ShareCapital2023-02-2809788563ns5:SharePremium2024-02-2909788563ns5:SharePremium2023-02-2809788563ns5:FurtherSpecificReserve2ComponentTotalEquity2024-02-2909788563ns5:FurtherSpecificReserve2ComponentTotalEquity2023-02-2809788563ns5:RetainedEarningsAccumulatedLosses2024-02-2909788563ns5:RetainedEarningsAccumulatedLosses2023-02-2809788563ns5:NetGoodwill2023-03-012024-02-2909788563ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2909788563ns5:PlantMachinery2023-03-012024-02-2909788563ns5:NetGoodwill2023-02-2809788563ns5:IntangibleAssetsOtherThanGoodwill2023-02-2809788563ns5:NetGoodwill2024-02-2909788563ns5:IntangibleAssetsOtherThanGoodwill2024-02-2909788563ns5:NetGoodwill2023-02-2809788563ns5:IntangibleAssetsOtherThanGoodwill2023-02-2809788563ns5:PlantMachinery2023-02-2809788563ns5:PlantMachinery2024-02-2909788563ns5:PlantMachinery2023-02-2809788563ns5:CostValuation2023-02-2809788563ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2909788563ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2809788563ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-2909788563ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2809788563ns5:Secured2024-02-2909788563ns5:Secured2023-02-28
REGISTERED NUMBER: 09788563 (England and Wales)
















FIG TREE REAL ESTATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






FIG TREE REAL ESTATE LIMITED (REGISTERED NUMBER: 09788563)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIG TREE REAL ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Q S Toalster
J R Toalster
C A Toalster





REGISTERED OFFICE: The Old Bat and Ball
St Johns Hill
Sevenoaks
Kent
TN13 3PF





REGISTERED NUMBER: 09788563 (England and Wales)





ACCOUNTANTS: Lakeview Southern Limited
Chartered Accountants
2 Lakeview Stables
Lower St. Clere
Kemsing
Sevenoaks
Kent
TN15 6NL

FIG TREE REAL ESTATE LIMITED (REGISTERED NUMBER: 09788563)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,671 2,902
Investments 6 800 800
Investment property 7 20,588,776 20,822,619
20,592,247 20,826,321

CURRENT ASSETS
Debtors 8 595,025 647,598
Cash at bank and in hand 400,891 284,292
995,916 931,890
CREDITORS
Amounts falling due within one year 9 232,509 218,247
NET CURRENT ASSETS 763,407 713,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,355,654

21,539,964

CREDITORS
Amounts falling due after more than one year 10 (9,330,000 ) (9,430,000 )

PROVISIONS FOR LIABILITIES (804,629 ) (814,785 )
NET ASSETS 11,221,025 11,295,179

FIG TREE REAL ESTATE LIMITED (REGISTERED NUMBER: 09788563)

BALANCE SHEET - continued
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000,200 1,000,200
Share premium 6,710,700 6,710,700
Non-distributable reserves 3,456,071 3,471,211
Retained earnings 54,054 113,068
11,221,025 11,295,179

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.

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 26 August 2024 and were signed on its behalf by:





Q S Toalster - Director


FIG TREE REAL ESTATE LIMITED (REGISTERED NUMBER: 09788563)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Fig Tree Real Estate 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.

Preparation of consolidated financial statements
The financial statements contain information about Fig Tree Real Estate Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill arising in connection with the acquisition of the business is capitalised and amortised over its estimated economic life of 5 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets
Other intangible assets are normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty and is amortised in relation to sales from such projects over 6 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 - 20% on cost

Investments in subsidiaries
Fixed asset investments are shown at cost less amounts written off.

Provisions are made for permanent fluctuations in value.

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.


FIG TREE REAL ESTATE LIMITED (REGISTERED NUMBER: 09788563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

Deferred tax has not been provided for on the revaluation gain as there is no intention to sell any of the properties.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Revaluation reserve
Surplus or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributable reserve known as the revaluation reserve (see also note 12).

Revaluation deficits in excess of the amount of prior revaluation surpluses on the same assets are charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

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

FIG TREE REAL ESTATE LIMITED (REGISTERED NUMBER: 09788563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 5,000 362,010 367,010
AMORTISATION
At 1 March 2023
and 29 February 2024 5,000 362,010 367,010
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 14,548
Additions 668
At 29 February 2024 15,216
DEPRECIATION
At 1 March 2023 11,646
Charge for year 899
At 29 February 2024 12,545
NET BOOK VALUE
At 29 February 2024 2,671
At 28 February 2023 2,902

FIG TREE REAL ESTATE LIMITED (REGISTERED NUMBER: 09788563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 800
NET BOOK VALUE
At 29 February 2024 800
At 28 February 2023 800

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 20,822,619
Additions 35,000
Disposals (215,623 )
Revaluations (53,220 )
At 29 February 2024 20,588,776
NET BOOK VALUE
At 29 February 2024 20,588,776
At 28 February 2023 20,822,619

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2021 2,120,221
Valuation in 2022 2,165,224
Valuation in 2023 (53,220 )
Cost 16,356,551
20,588,776

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 5,916 11,965
Amounts owed by group undertakings 529,766 569,766
Other debtors 59,343 65,867
595,025 647,598

FIG TREE REAL ESTATE LIMITED (REGISTERED NUMBER: 09788563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 19,365 32,630
Taxation and social security 3,439 -
Other creditors 209,705 185,617
232,509 218,247

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 9,330,000 9,430,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years Non-instalments 9,330,000 9,430,000

11. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 9,330,000 9,430,000

Bank loans are secured by a limited personal guarantee provided by J R Toalster, a director.

12. RELATED PARTY DISCLOSURES

At the year end the Company owed the directors £16,027 (2023: £21,797).

At the year end the company was owed £529,766 (2023: £569,766) by Toalster Properties Limited, a wholly owned subsidiary and £30,000 (2032: £30,000) by Fig Street Livery Limited, a company under the common control of one of the directors.

During the year dividends were paid to a director in their capacity as a shareholder.