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REGISTERED NUMBER: 00111034 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Featherstones', Limited

Featherstones', Limited (Registered number: 00111034)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Featherstones', Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: 2d8 Limited
M Entecott





REGISTERED OFFICE: 375 High Street
Rochester
Kent
ME1 1DA





REGISTERED NUMBER: 00111034 (England and Wales)





ACCOUNTANTS: Ardor Business Solutions Limited
Chartered Certified Accountants
Unit 1
Shrine Barn
Sandling Road
Hythe
Kent
CT21 4HE

Featherstones', Limited (Registered number: 00111034)

Statement of Financial Position
31 January 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 172 215
Investments 6 100 100
Investment property 7 2,960,000 2,960,000
2,960,272 2,960,315

CURRENT ASSETS
Debtors 8 59,911 50,651
Cash at bank and in hand 20,010 320,914
79,921 371,565
CREDITORS
Amounts falling due within one year 9 165,346 317,877
NET CURRENT (LIABILITIES)/ASSETS (85,425 ) 53,688
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,874,847

3,014,003

CREDITORS
Amounts falling due after more than one
year

10

(95,690

)

(72,629

)

PROVISIONS FOR LIABILITIES (269,191 ) (269,191 )
NET ASSETS 2,509,966 2,672,183

CAPITAL AND RESERVES
Called up share capital 77,989 77,989
Fair value reserve 11 1,920,365 1,920,365
Retained earnings 511,612 673,829
SHAREHOLDERS' FUNDS 2,509,966 2,672,183

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

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

The directors acknowledge their 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.

Featherstones', Limited (Registered number: 00111034)

Statement of Financial Position - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:





M Entecott - Director


Featherstones', Limited (Registered number: 00111034)

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

1. STATUTORY INFORMATION

Featherstones', 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 (£).


Amounts are rounded to the nearest Pound Sterling.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Featherstones', Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognized in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Properties are valued using a multiple of rentals model, allowing for the state of repair of properties awaiting tenants.

Turnover
Gross rents received are shown net of VAT, and are recognised over the term of the rental period on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

Tangible assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Featherstones', Limited (Registered number: 00111034)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued

Investment properties
Investment properties are shown at market value. The definition of "market value" used is in accordance with the RICS Valuation - Global Standards which incorporate the International Valuation Standards (IVS) effective from 31 January 2020 together with, where applicable, the UK National Supplement effective 14 January 2019 and the RICS Red Book. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit and loss in the year to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 91,241 20,716 111,957
DEPRECIATION
At 1 February 2023 91,026 20,716 111,742
Charge for year 43 - 43
At 31 January 2024 91,069 20,716 111,785
NET BOOK VALUE
At 31 January 2024 172 - 172
At 31 January 2023 215 - 215

Featherstones', Limited (Registered number: 00111034)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 100
NET BOOK VALUE
At 31 January 2024 100
At 31 January 2023 100

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 2,960,000
NET BOOK VALUE
At 31 January 2024 2,960,000
At 31 January 2023 2,960,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2023 2,189,556
Cost 770,444
2,960,000

Investment properties were revalued on 4 January 2022 externally by Martin Lacey Buckley Ltd, an independent chartered surveyor, not connected to the company, on a market value basis. The definition of "market value" used is in accordance with the RICS Valuation - Global Standards which incorporate the International Valuation Standards (IVS) effective from 31 January 2020 together with, where applicable, the UK National Supplement effective 14 January 2019 and the RICS Red Book.

The directors undertook their own valuation in 2023 but determined that the valuation undertaken on 4 January 2022 was still deemed appropriate.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 44,463 29,991
Other debtors 15,448 15,731
Tax - 4,929
59,911 50,651

Featherstones', Limited (Registered number: 00111034)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans and overdrafts - 10,078
Trade creditors - 1,847
Tax - 5,387
Social security and other taxes 21,799 72,347
VAT 7,161 13,418
Other creditors 65,562 112,308
Accrued expenses 7,459 9,151
Deposits held 26,688 22,584
Directors' current accounts 36,029 70,109
Unclaimed dividends 648 648
165,346 317,877

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Bank loans - 1-2 years - 10,256
Bank loans - 2-5 years - 17,488
5.25% cumulative preference shares 22,011 22,011
Subsidiary company loan 73,679 22,874
95,690 72,629

Amounts falling due in more than five years:

Repayable otherwise than by instalments
5.25% cumulative preference shares 22,011 22,011

The cumulative preference shares are treated as non-equity as they confer the right to receive, in priority of all other shares, a cumulative preferential dividend at 5.25%. In addition, such shares shall rank ahead of all others for capital repayments in the event of winding up.

£1,116 was paid to the preference shareholders during the year.

11. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 1,920,365

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss L E Pitham, the sole director of 2D8 Limited and shareholder
who owns all voting classes of shares in the company.