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Registration number: 09195908

FTHC Limited

Unaudited Filleted Financial Statements

for the Period from 1 November 2022 to 30 April 2024

 

FTHC Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

FTHC Limited

Company Information

Directors

Mr MJ Dipple

Mr SR Dipple

Mr MH Dipple

Company secretary

Mrs I Dipple

Registered office

Units A1 & A2 The Nore Estate
Hovefields Avenue
Basildon
Essex
SS13 1EB

Accountants

Tayabali & White
5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG

 

FTHC Limited

(Registration number: 09195908)
Balance Sheet as at 30 April 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

26,401

1,166,081

Investments

5

6

6

 

26,407

1,166,087

Current assets

 

Debtors

6

5,665,104

5,457,757

Cash at bank and in hand

 

4,163,078

692,785

 

9,828,182

6,150,542

Creditors: Amounts falling due within one year

7

(656,429)

(184,140)

Net current assets

 

9,171,753

5,966,402

Net assets

 

9,198,160

7,132,489

Capital and reserves

 

Called up share capital

8

6

6

Retained earnings

9,198,154

7,132,483

Shareholders' funds

 

9,198,160

7,132,489

For the financial period ending 30 April 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 October 2024 and signed on its behalf by:
 

 

FTHC Limited

(Registration number: 09195908)
Balance Sheet as at 30 April 2024

.........................................
Mr SR Dipple
Director

 

FTHC Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

1

General information

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

The company's registered number is 09195908.

The address of its registered office is:
Units A1 & A2 The Nore Estate
Hovefields Avenue
Basildon
Essex
SS13 1EB

These financial statements were authorised for issue by the Board on 11 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises 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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

FTHC Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

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.

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:

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

FTHC Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2022 - 0).

 

FTHC Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

4

Tangible assets

Land and buildings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

1,216,687

-

-

1,216,687

Additions

-

3,242

39,000

42,242

Disposals

(1,216,687)

-

-

(1,216,687)

At 30 April 2024

-

3,242

39,000

42,242

Depreciation

At 1 November 2022

50,606

-

-

50,606

Charge for the period

-

1,216

14,625

15,841

Eliminated on disposal

(50,606)

-

-

(50,606)

At 30 April 2024

-

1,216

14,625

15,841

Carrying amount

At 30 April 2024

-

2,026

24,375

26,401

At 31 October 2022

1,166,081

-

-

1,166,081

Included within the net book value of land and buildings above is £Nil (2022 - £1,166,081) in respect of freehold land and buildings.
 

5

Investments

2024
£

2022
£

Investments in subsidiaries

6

6

 

FTHC Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

Subsidiaries

£

Cost or valuation

At 1 November 2022

6

Provision

Carrying amount

At 30 April 2024

6

At 31 October 2022

6

6

Debtors

Current

Note

2024
£

2022
£

Amounts owed by related parties

10

80,412

84,811

Other debtors

 

5,584,692

5,372,946

   

5,665,104

5,457,757

 

FTHC Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Taxation and social security

568,360

26,025

Accruals and deferred income

1,575

1,575

Other creditors

86,494

156,540

656,429

184,140

8

Share capital

Allotted, called up and fully paid shares

2024

2022

No.

£

No.

£

Ordinary of £0.01 each

600

6

600

6

       

9

Dividends

Interim dividends paid

2024
£

2022
£

Interim dividend of £973.35 (2022 - £507.00) per each Ordinary

584,010

304,200

 

 
 

FTHC Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

10

Related party transactions

The company is owed from its 100% subsidiary, Field Textiles Limited (company no. 03584324), £80,412 at 30th April 2024 (31st October 2022: £84,811).

As at 30th April 2024 the company has a £85,455 liability to Mr S Dipple (31st October 2022 - £155,470), £593 liability to Mr M J Dipple (31st October 2022: £608) and a £446 liability to Mr M H Dipple (31st October 2022: £462). No interest is being charged on these loans.

During the period the company made no further loans to Trumpington Properties Ltd (company no. 092549996), a company which the directors own 50%. Interest on existing loans is charged at 3% p.a. The total amount outstanding at 30th April 2024 was £5,579,992 (31st October 2022: £5,372,947).