Little Fir Trees Properties Limited 04639341 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the letting of residential properties Digita Accounts Production Advanced 6.30.9574.0 true 04639341 2023-02-01 2024-01-31 04639341 2024-01-31 04639341 bus:OrdinaryShareClass1 2024-01-31 04639341 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 04639341 core:Non-currentFinancialInstruments 2024-01-31 04639341 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 04639341 core:FurnitureFittingsToolsEquipment 2024-01-31 04639341 bus:SmallEntities 2023-02-01 2024-01-31 04639341 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04639341 bus:FullAccounts 2023-02-01 2024-01-31 04639341 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04639341 bus:RegisteredOffice 2023-02-01 2024-01-31 04639341 bus:CompanySecretary1 2023-02-01 2024-01-31 04639341 bus:Director1 2023-02-01 2024-01-31 04639341 bus:Director2 2023-02-01 2024-01-31 04639341 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 04639341 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04639341 core:RevaluationReserve core:LandBuildings 2023-02-01 2024-01-31 04639341 core:FurnitureFittings 2023-02-01 2024-01-31 04639341 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 04639341 core:LandBuildings 2023-02-01 2024-01-31 04639341 core:OfficeEquipment 2023-02-01 2024-01-31 04639341 countries:EnglandWales 2023-02-01 2024-01-31 04639341 2023-01-31 04639341 core:FurnitureFittingsToolsEquipment 2023-01-31 04639341 2022-02-01 2023-01-31 04639341 2023-01-31 04639341 bus:OrdinaryShareClass1 2023-01-31 04639341 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 04639341 core:Non-currentFinancialInstruments 2023-01-31 04639341 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 04639341 core:FurnitureFittingsToolsEquipment 2023-01-31 04639341 core:RevaluationReserve core:LandBuildings 2022-02-01 2023-01-31 04639341 core:LandBuildings 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04639341

Little Fir Trees Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Little Fir Trees Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Little Fir Trees Properties Limited

Company Information

Directors

CF James

P James

Company secretary

P James

Registered office

Little Fir Trees Farm
252 Eaves Lane
Bucknall
Stoke on Trent
ST2 8LY

 

Little Fir Trees Properties Limited

(Registration number: 04639341)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

5,319

6,289

Investment property

6

896,000

1,083,000

 

901,319

1,089,289

Current assets

 

Cash at bank and in hand

 

94,431

75,021

Creditors: Amounts falling due within one year

7

(20,733)

(49,362)

Net current assets

 

73,698

25,659

Total assets less current liabilities

 

975,017

1,114,948

Creditors: Amounts falling due after more than one year

7

(543,829)

(700,918)

Net assets

 

431,188

414,030

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

75,671

96,204

Retained earnings

355,417

317,726

Shareholders' funds

 

431,188

414,030

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

.........................................
CF James
Director

 

Little Fir Trees Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Little Fir Trees Farm
252 Eaves Lane
Bucknall
Stoke on Trent
ST2 8LY

These financial statements were authorised for issue by the Board on 20 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises rents received and the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Little Fir Trees Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% pa reducing balance basis

Office equipment

20% pa reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors of the Company. The Directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Little Fir Trees Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,330

1,572

 

Little Fir Trees Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

62,063

62,063

Additions

360

360

At 31 January 2024

62,423

62,423

Depreciation

At 1 February 2023

55,774

55,774

Charge for the year

1,330

1,330

At 31 January 2024

57,104

57,104

Carrying amount

At 31 January 2024

5,319

5,319

At 31 January 2023

6,289

6,289

6

Investment properties

2024
£

At 1 February

1,083,000

Disposals

(166,467)

Fair value adjustments

(20,533)

At 31 January

896,000

On the 12 October 2023 the properties were valued by the director.

 

Little Fir Trees Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,423

8,122

Accruals and deferred income

2,090

2,090

Other creditors

15,220

39,150

20,733

49,362

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

543,829

700,918

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £543,829 (2023 - £700,918).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(20,533)

(20,533)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

96,204

96,204

 

Little Fir Trees Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

543,829

700,918