REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st May 2024 |
for |
Fenstone Minerals Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st May 2024 |
for |
Fenstone Minerals Limited |
Fenstone Minerals Limited (Registered number: 02837846) |
Contents of the Financial Statements |
for the year ended 31st May 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
Fenstone Minerals Limited |
Company Information |
for the year ended 31st May 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Princes House |
Wright Street |
Hull |
East Yorkshire |
HU2 8HX |
BANKERS: |
Bridle Road |
Bootle |
Merseyside |
L30 4GB |
Fenstone Minerals Limited (Registered number: 02837846) |
Abridged Balance Sheet |
31st May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Fenstone Minerals Limited (Registered number: 02837846) |
Abridged Balance Sheet - continued |
31st May 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Fenstone Minerals Limited (Registered number: 02837846) |
Notes to the Financial Statements |
for the year ended 31st May 2024 |
1. | STATUTORY INFORMATION |
Fenstone Minerals Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
This is the first period in which the company's financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Lease premium is being amortised evenly over the term of the lease. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Fenstone Minerals Limited (Registered number: 02837846) |
Notes to the Financial Statements - continued |
for the year ended 31st May 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st June 2023 |
and 31st May 2024 |
AMORTISATION |
At 1st June 2023 |
Amortisation for year |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1st June 2023 |
Additions |
Disposals | ( |
) |
At 31st May 2024 |
DEPRECIATION |
At 1st June 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
Fenstone Minerals Limited (Registered number: 02837846) |
Notes to the Financial Statements - continued |
for the year ended 31st May 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31st May 2024 is represented by: |
Totals |
£ |
Valuation in 2001 | 372,000 |
Valuation in 2013 | 8,000 |
Cost | 4,534,174 |
4,914,174 |
The revaluation of freehold property by Pinders Professional and Consultancy Services Ltd was carried out on 8th February 2013 in accordance with the RICS appraisal and valuation manual. The director believes this is a true and fair valuation of the freehold property. |
The net book value of tangible fixed assets includes £ 1,986,537 (2023 - £ 2,056,657 ) in respect of assets held under hire purchase contracts. |
6. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-5 years |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by way of a debenture creating a first legal charge over the land. |
Hire purchases are secured against the relevant asset. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 |
Ordinary B | £1 |
Ordinary C | £1 |
Ordinary D | £1 |
104 | 104 |
Fenstone Minerals Limited (Registered number: 02837846) |
Notes to the Financial Statements - continued |
for the year ended 31st May 2024 |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1st June 2023 |
and 31st May 2024 |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Fenstone Minerals Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fenstone Minerals Limited for the year ended 31st May 2024 which comprise the Statement of Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Fenstone Minerals Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fenstone Minerals Limited and state those matters that we have agreed to state to the director of Fenstone Minerals Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fenstone Minerals Limited and its director for our work or for this report. |
It is your duty to ensure that Fenstone Minerals Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fenstone Minerals Limited. You consider that Fenstone Minerals Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Fenstone Minerals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Princes House |
Wright Street |
Hull |
East Yorkshire |
HU2 8HX |