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REGISTERED NUMBER: 02837846 (England and Wales)














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: I W Fenwick



SECRETARY: P A Fenwick



REGISTERED OFFICE: Greenwick Quarry
Huggate
East Yorkshire
YO42 1YR



REGISTERED NUMBER: 02837846 (England and Wales)



ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Santander UK Plc
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 36,000 38,000
Tangible assets 5 3,090,293 3,232,170
3,126,293 3,270,170

CURRENT ASSETS
Stocks 14,782 22,486
Debtors 1,085,910 734,606
Cash at bank 30,026 266,772
1,130,718 1,023,864
CREDITORS
Amounts falling due within one year 1,328,029 1,123,375
NET CURRENT LIABILITIES (197,311 ) (99,511 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,928,982

3,170,659

CREDITORS
Amounts falling due after more than one
year

(630,878

)

(950,873

)

PROVISIONS FOR LIABILITIES (455,088 ) (579,871 )
NET ASSETS 1,843,016 1,639,915

CAPITAL AND RESERVES
Called up share capital 8 104 104
Revaluation reserve 9 348,017 348,017
Retained earnings 1,494,895 1,291,794
SHAREHOLDERS' FUNDS 1,843,016 1,639,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 14th October 2024 and were signed by:





I W Fenwick - Director


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 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
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 5% on cost
Plant and machinery etc - 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

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 21 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2023
and 31st May 2024 42,000
AMORTISATION
At 1st June 2023 4,000
Amortisation for year 2,000
At 31st May 2024 6,000
NET BOOK VALUE

At 31st May 2024 36,000
At 31st May 2023 38,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1st June 2023 4,801,553
Additions 421,571
Disposals (308,950 )
At 31st May 2024 4,914,174
DEPRECIATION
At 1st June 2023 1,569,383
Charge for year 399,939
Eliminated on disposal (145,441 )
At 31st May 2024 1,823,881
NET BOOK VALUE
At 31st May 2024 3,090,293
At 31st May 2023 3,232,170

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 30,045 31,180

Amounts falling due between one and two years:
Bank loans - 1-5 years 60,456 88,479

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 90,501 119,659

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: £    £   
85 Ordinary £1 85 85
10 Ordinary B £1 10 10
5 Ordinary C £1 5 5
4 Ordinary D £1 4 4
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 348,017

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.






Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


14th October 2024