Registered number
11127391
Feigin Estates Ltd
Unaudited Filleted Accounts
31 December 2023
Feigin Estates Ltd
Registered number: 11127391
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 36,656 48,875
Investment property 5 1,801,765 1,431,235
1,838,421 1,480,110
Current assets
Debtors 6 9,287 16,714
Cash at bank and in hand 63,771 115,451
73,058 132,165
Creditors: amounts falling due within one year 7 (357,331) (337,546)
Net current liabilities (284,273) (205,381)
Total assets less current liabilities 1,554,148 1,274,729
Creditors: amounts falling due after more than one year 8 (1,420,109) (1,133,819)
Provisions for liabilities (30,770) (23,688)
Net assets 103,269 117,222
Capital and reserves
Called up share capital 1 1
Fair value reserve 10 91,146 98,438
Profit and loss account 12,122 18,783
Shareholders' funds 103,269 117,222
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D E Feigin
Director
Approved by the board on 10/10/2024.
Feigin Estates Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Statutory information
Feigin Estates Ltd is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address are as below:
Registered number: 11127391
Registerd office: 6 Kinloss Gardens
London
N3 3DU
The presentation currency of the financial statements is the Pound Sterling.
2 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the 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 represents rents received and receivable, excluding VAT.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles - 25% on a reducing balance basis
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
2 Accounting policies (continued)
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
4 Tangible fixed assets
Motor vehicles
£
Cost
At 1 January 2023 68,000
At 31 December 2023 68,000
Depreciation
At 1 January 2023 19,125
Charge for the year 12,219
At 31 December 2023 31,344
Net book value
At 31 December 2023 36,656
At 31 December 2022 48,875
5 Investment property
Total
£
Fair value
At 1 January 2023 1,431,235
Additions 370,530
At 31 December 2023 1,801,765
Historical cost
At 1 January 2023 1,309,707
At 31 December 2023 1,680,237
The investment property was valued on an open market basis on 31 December 2023 by the
directors.
6 Debtors 2023 2022
£ £
Trade debtors 1,256 8,953
Prepayments and accrued income 2,431 2,961
Other debtors 5,600 4,800
9,287 16,714
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 200 -
Obligations under finance lease and hire purchase contracts 10,988 9,509
Trade creditors 5,039 1,000
Directors' current account 332,764 303,726
Accruals and deferred income 1,311 16,803
Taxation and social security costs 1,429 1,708
Other creditors 5,600 4,800
357,331 337,546
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,400,137 1,103,815
Obligations under finance lease and hire purchase contracts 19,972 30,004
1,420,109 1,133,819
9 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 1,399,148 1,103,815
Secured bank loans 1,400,337 1,103,815
Bank loans are secured over the properties to which they relate.
10 Fair value reserve 2023 2022
£ £
At 1 January 2023 98,438 73,939
Reserve transfer (7,292) 24,499
At 31 December 2023 91,146 98,438
11 Related party transactions
During the year £36,323 (2022: £23,102) was advanced from and £7,285 (2022: £8,640) was repaid to one of the directors and shareholders of the company. An amount of £332,764 (2022: £303,726) remained due to the director at the year end.
Feigin Estates Ltd 11127391 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 Mr D E Feigin No description of principal activity 11127391 2022-01-01 2022-12-31 11127391 core:RevaluationReserve core:LandBuildings 2022-01-01 2022-12-31 11127391 core:WithinOneYear 2022-12-31 11127391 core:AfterOneYear 2022-12-31 11127391 core:ShareCapital 2022-12-31 11127391 core:OtherReservesSubtotal 2022-12-31 11127391 core:RetainedEarningsAccumulatedLosses 2022-12-31 11127391 core:RevaluationReserve 2021-12-31 11127391 2023-01-01 2023-12-31 11127391 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11127391 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11127391 bus:Director40 2023-01-01 2023-12-31 11127391 1 2023-01-01 2023-12-31 11127391 2 2023-01-01 2023-12-31 11127391 core:Vehicles 2023-01-01 2023-12-31 11127391 core:RevaluationReserve core:LandBuildings 2023-01-01 2023-12-31 11127391 bus:FRS102 2023-01-01 2023-12-31 11127391 bus:FilletedAccounts 2023-01-01 2023-12-31 11127391 2023-12-31 11127391 core:WithinOneYear 2023-12-31 11127391 core:AfterOneYear 2023-12-31 11127391 core:ShareCapital 2023-12-31 11127391 core:OtherReservesSubtotal 2023-12-31 11127391 core:RetainedEarningsAccumulatedLosses 2023-12-31 11127391 core:Vehicles 2023-12-31 11127391 core:AdditionsToInvestments 2023-12-31 11127391 core:RevaluationReserve 2023-12-31 11127391 2022-12-31 11127391 core:Vehicles 2022-12-31 11127391 core:RevaluationReserve 2022-12-31 iso4217:GBP xbrli:pure