Acorah Software Products - Accounts Production 15.0.600 false true 29 July 2022 31 July 2021 false 30 July 2022 29 July 2023 29 July 2023 11156616 Mr Robert Lewis Mr David Steadman Mr Lawrence Grove Mr Robert Mulligan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11156616 2022-07-29 11156616 2023-07-29 11156616 2022-07-30 2023-07-29 11156616 frs-core:CurrentFinancialInstruments 2023-07-29 11156616 frs-core:Non-currentFinancialInstruments 2023-07-29 11156616 frs-core:OtherReservesSubtotal 2023-07-29 11156616 frs-core:ShareCapital 2023-07-29 11156616 frs-core:RetainedEarningsAccumulatedLosses 2023-07-29 11156616 frs-bus:PrivateLimitedCompanyLtd 2022-07-30 2023-07-29 11156616 frs-bus:FilletedAccounts 2022-07-30 2023-07-29 11156616 frs-bus:SmallEntities 2022-07-30 2023-07-29 11156616 frs-bus:AuditExempt-NoAccountantsReport 2022-07-30 2023-07-29 11156616 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-30 2023-07-29 11156616 frs-bus:Director1 2022-07-30 2023-07-29 11156616 frs-bus:Director2 2022-07-30 2023-07-29 11156616 frs-bus:Director3 2022-07-30 2023-07-29 11156616 frs-bus:Director4 2022-07-30 2023-07-29 11156616 frs-countries:EnglandWales 2022-07-30 2023-07-29 11156616 2021-07-30 11156616 2022-07-29 11156616 2021-07-31 2022-07-29 11156616 frs-core:CurrentFinancialInstruments 2022-07-29 11156616 frs-core:Non-currentFinancialInstruments 2022-07-29 11156616 frs-core:OtherReservesSubtotal 2022-07-29 11156616 frs-core:ShareCapital 2022-07-29 11156616 frs-core:RetainedEarningsAccumulatedLosses 2022-07-29
Farleigh Rengen (Three) Limited
Unaudited Financial Statements
For The Year Ended 29 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11156616
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 7,345,784 7,551,922
7,345,784 7,551,922
CURRENT ASSETS
Debtors 5 8,378 64,050
Cash at bank and in hand 346 25,584
8,724 89,634
Creditors: Amounts Falling Due Within One Year 6 (926,604 ) (1,212,095 )
NET CURRENT ASSETS (LIABILITIES) (917,880 ) (1,122,461 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,427,904 6,429,461
Creditors: Amounts Falling Due After More Than One Year 7 (4,789,015 ) (4,827,803 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (372,669 ) (372,669 )
NET ASSETS 1,266,220 1,228,989
CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 214,615 188,355
Profit and Loss Account 1,051,505 1,040,534
SHAREHOLDERS' FUNDS 1,266,220 1,228,989
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For the year ending 29 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Steadman
Director
16 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Farleigh Rengen (Three) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11156616 . The registered office is 92 Redcliff Street, Bristol, BS1 6LU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
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4. Investment Property
2023
£
Fair Value
As at 30 July 2022 7,551,922
Additions 147,812
Disposals (353,950 )
As at 29 July 2023 7,345,784
The property was valued on an open market basis at the year end by the directors of the company, based on information afforded by recent professional valuations of similar properties.  The fair value at 29 July 2023 is represnted by a valuation in 2021 of £1,497,787 and costs of £5,847,997.
The cost of the property of £5,706,841 (2022: £6,054,134) includes capitalised finance charges of £1,302,616 (2022 £1,302,616).
5. Debtors
2023 2022
£ £
Due within one year
Amounts owed by participating interests - 56,459
Other debtors 8,378 7,591
8,378 64,050
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 7,801 6,950
Amounts owed to participating interests 917,303 1,201,870
Other creditors 1,500 3,275
926,604 1,212,095
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 4,789,015 4,827,803
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8. Secured Creditors
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
4,789,015
4,827,803
image4,789,015
image4,827,803
image
image
The loans are secured by a fixed charge over the development property of the company, a floating charge held
against the company's assets and by guarantees provided by some of the directors in respect of cost overruns and
interest shortfalls.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Retained earnings include both realised and unrealised profits.
11. Related Party Transactions
At the year end the company owed £917,303 (2022 - £1,201,870) to a company holding a participating interest. The loan was repayable on demand and no interest was charged during the year.
The amount due to participating interests due after one year included 435,000 Redeemable Shares of £1 each recorded at a discount value of £388,393 (2022 - £388,101) with the balancing figure of £214,615 (2022 - £188,355) representing a Capital Contribution included within "Other reserves" less imputed interest charge to date of £168,008 (2022 - £141,456).
The Redeemable Shares are accounted for on an amortised cost basis because they represent debt on which neither interest nor dividends are payable, the imputed interest is capitalised within the cost of the investment property. The Capital Contribution will unwind on the sale of the investment property by means of a transfer of the Capital Contribution to the Profit and Loss account.
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