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REGISTERED NUMBER: 08643425 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

FELTHAM PROPERTIES LIMITED

FELTHAM PROPERTIES LIMITED (REGISTERED NUMBER: 08643425)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FELTHAM PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M S Bates
A B Brown
D S Yates





SECRETARY: D S Yates





REGISTERED OFFICE: Feltham House
42 London Road
Newbury
Berkshire
RG14 1LA





REGISTERED NUMBER: 08643425 (England and Wales)





AUDITORS: Haines Watts
Chartered Accountants and Statutory Auditors
Advantage
87 Castle Street
Reading
Berkshire
RG1 7SN

FELTHAM PROPERTIES LIMITED (REGISTERED NUMBER: 08643425)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 4,368 4,185
Investments 5 55 55
4,423 4,240

CURRENT ASSETS
Stocks 6 2,137,278 1,668,558
Debtors 7 10,406,919 5,082,935
Cash at bank 17,473 22,826
12,561,670 6,774,319
CREDITORS
Amounts falling due within one year 8 12,165,018 6,125,718
NET CURRENT ASSETS 396,652 648,601
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,075

652,841

PROVISIONS FOR LIABILITIES 3,836 3,836
NET ASSETS 397,239 649,005

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 397,139 648,905
SHAREHOLDERS' FUNDS 397,239 649,005

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 and authorised for issue by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





D S Yates - Director


FELTHAM PROPERTIES LIMITED (REGISTERED NUMBER: 08643425)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Feltham Properties 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
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland including the provisions of Section 1A Small Entities and the Companies Act 2006. The financial statements have been rounded to the nearest £.

Going Concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Preparation of consolidated financial statements
The financial statements contain information about Feltham Properties 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.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following basis:

Motor vehicles- 25% on cost
Computer equipment- 25% on cost & 20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

FELTHAM PROPERTIES LIMITED (REGISTERED NUMBER: 08643425)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress include labour and attributable overheads and interest on finance costs.

At each balance sheet date, stocks and work in progress are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

FELTHAM PROPERTIES LIMITED (REGISTERED NUMBER: 08643425)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Finance costs
Finance costs and associated issue costs relating to specific developments are included in stock and work in progress. These costs are released to the Profit and loss account in line with other direct costs relating to that development.

All other finance costs are charged to the Profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Taxation
Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 July 2023 50,940 8,234 59,174
Additions - 3,500 3,500
At 30 June 2024 50,940 11,734 62,674
DEPRECIATION
At 1 July 2023 48,818 6,171 54,989
Charge for year 2,122 1,195 3,317
At 30 June 2024 50,940 7,366 58,306
NET BOOK VALUE
At 30 June 2024 - 4,368 4,368
At 30 June 2023 2,122 2,063 4,185

FELTHAM PROPERTIES LIMITED (REGISTERED NUMBER: 08643425)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 July 2023
and 30 June 2024 55
NET BOOK VALUE
At 30 June 2024 55
At 30 June 2023 55

6. STOCKS
2024 2023
£ £
Work-in-progress 2,137,278 1,668,558

Included in work in progress is £662,036 (2023 - £622,117) relating to capitalised interest.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed by group undertakings 10,331,365 5,006,404
Other debtors 75,554 76,531
10,406,919 5,082,935

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 41,042 45,556
Amounts owed to group undertakings 12,095,020 6,047,593
Taxation and social security 4,808 4,913
Other creditors 24,148 27,656
12,165,018 6,125,718

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary shares 1 100 100

FELTHAM PROPERTIES LIMITED (REGISTERED NUMBER: 08643425)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. RESERVES
Retained
earnings
£

At 1 July 2023 648,905
Deficit for the year (251,766 )
At 30 June 2024 397,139

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts

12. CONTINGENT LIABILITIES

Loans in subsidiaries are secured by fixed charges and negative pledges against the shares held by Feltham Properties Limited.

13. RELATED PARTY DISCLOSURES

In accordance with the FRS102, the Company has not disclosed transactions and balances with other 100% group entities.

In the year Feltham Construction Limited carried out work for Feltham Properties Limited and its subsidiaries valued at £2,613,290 (2023 - £7,626,996). In addition interest was charge from Feltham Construction Limited to Feltham Properties Limited of £181,531 (2023 - £294,620). At the year end amount owed to other group entities totalled £12,095,020 (2023 - £6,047,593).

In the year the company paid £170,368 (2023 - £166,367) in respect of management charges to Feltham Construction Limited.

14. ULTIMATE CONTROLLING PARTY

The parent company and ultimate controlling party is Feltham Group Limited, a company incorporated in England and Wales.