IRIS Accounts Production v24.3.0.553 00995256 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh009952562023-03-31009952562024-03-31009952562023-04-012024-03-31009952562022-03-31009952562022-04-012023-03-31009952562023-03-3100995256ns15:EnglandWales2023-04-012024-03-3100995256ns14:PoundSterling2023-04-012024-03-3100995256ns10:Director12023-04-012024-03-3100995256ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3100995256ns10:SmallEntities2023-04-012024-03-3100995256ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3100995256ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100995256ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100995256ns10:FullAccounts2023-04-012024-03-3100995256ns10:Director22023-04-012024-03-3100995256ns10:RegisteredOffice2023-04-012024-03-3100995256ns5:CurrentFinancialInstruments2024-03-3100995256ns5:CurrentFinancialInstruments2023-03-3100995256ns5:ShareCapital2024-03-3100995256ns5:ShareCapital2023-03-3100995256ns5:RetainedEarningsAccumulatedLosses2024-03-3100995256ns5:RetainedEarningsAccumulatedLosses2023-03-3100995256ns5:CostValuation2023-03-3100995256ns5:RevaluationsIncreaseDecreaseInInvestments2024-03-3100995256ns5:CostValuation2024-03-3100995256ns5:DeferredTaxation2023-03-3100995256ns5:DeferredTaxation2023-04-012024-03-3100995256ns5:DeferredTaxation2024-03-3100995256ns5:RetainedEarningsAccumulatedLosses2023-03-3100995256ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 00995256 (England and Wales)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FOWLER-PALEY LIMITED

FOWLER-PALEY LIMITED (REGISTERED NUMBER: 00995256)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOWLER-PALEY LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: Mr R L Grunwell
Mr R E Wilkinson





REGISTERED OFFICE: 5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU





REGISTERED NUMBER: 00995256 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

FOWLER-PALEY LIMITED (REGISTERED NUMBER: 00995256)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 79,577 69,238
Investment property 5 - 460,000
79,577 529,238

CURRENT ASSETS
Cash at bank 479,817 70,236

CREDITORS
Amounts falling due within one year 6 77,087 23,254
NET CURRENT ASSETS 402,730 46,982
TOTAL ASSETS LESS CURRENT LIABILITIES 482,307 576,220

PROVISIONS FOR LIABILITIES 7 - 50,815
NET ASSETS 482,307 525,405

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 482,207 525,305
482,307 525,405

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 8 October 2024 and were signed on its behalf by:



Mr R L Grunwell - Director


FOWLER-PALEY LIMITED (REGISTERED NUMBER: 00995256)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Fowler-Paley 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
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rent received from the investment property.

Investment property
Investment property is revalued annually and the aggregate surplus or deficit arising from changes in market value is transferred to retained earnings. Depreciation is not provided in respect of the investment property. This is a departure from the Companies Act which requires all properties to be depreciated. The properties are not held for consumption but for investment and the directors consider that to depreciate them would not give a true and fair view.

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.

Investments
Investments are valued on an ongoing basis by the Investment Manager and a quarterly report is provided to the company. The valuation at the year-end date is recognised on the balance sheet with any unrealised gains or loss recognised through the Income Statement.

3. EMPLOYEES AND DIRECTORS

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

FOWLER-PALEY LIMITED (REGISTERED NUMBER: 00995256)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 69,238
Revaluations 10,339
At 31 March 2024 79,577
NET BOOK VALUE
At 31 March 2024 79,577
At 31 March 2023 69,238

Other investments represents unit trusts held with St James Place since 2016. The original cost was £71,250.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 460,000
Disposals (460,000 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 460,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 53,736 -
Other creditors 21,190 21,190
Accruals and deferred income 2,161 2,064
77,087 23,254

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 50,815

Deferred
tax
£   
Balance at 1 April 2023 50,815
Credit to Income Statement during year (50,815 )
Balance at 31 March 2024 -

FOWLER-PALEY LIMITED (REGISTERED NUMBER: 00995256)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


8. RESERVES
Retained
earnings
£   

At 1 April 2023 525,305
Deficit for the year (43,098 )
At 31 March 2024 482,207