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Company Registration No. 00795999 (England and Wales)
Fretherne Properties Limited Unaudited accounts for the year ended 29 March 2024
Fretherne Properties Limited Unaudited accounts Contents
Page
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Fretherne Properties Limited Company Information for the year ended 29 March 2024
Directors
G J Darell The Honourable K M Astor C V Adeane JRC Arkwright
Company Number
00795999 (England and Wales)
Registered Office
115 MOUNT STREET LONDON W1K 3NQ UNITED KINGDOM
Accountants
THE UNCOMMON ACCOUNTANTS LTD Unit 2g, Redwither Tower Redwither Business Park Wrexham LL13 9XT
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Fretherne Properties Limited Statement of financial position as at 29 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
593,023 
728,023 
Investments
455,934 
294,683 
1,048,957 
1,022,706 
Current assets
Debtors
2,290 
545 
Cash at bank and in hand
45,031 
27,901 
47,321 
28,446 
Creditors: amounts falling due within one year
(26,112)
(33,594)
Net current assets/(liabilities)
21,209 
(5,148)
Net assets
1,070,166 
1,017,558 
Capital and reserves
Called up share capital
7,000 
7,000 
Revaluation reserve
56,039 
56,039 
Profit and loss account
1,007,127 
954,519 
Shareholders' funds
1,070,166 
1,017,558 
For the year ending 29 March 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by
G J Darell Director Company Registration No. 00795999
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Fretherne Properties Limited Notes to the Accounts for the year ended 29 March 2024
1
Statutory information
Fretherne Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 00795999. The registered office is 115 MOUNT STREET, LONDON, W1K 3NQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax, and other sales taxes.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. No depreciation is provided in respect of investment properties applying the fair value model. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in shares are included at fair value. Subsequently, they are measured at fair value through profit and loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Taxation
Tax on the profit or loss 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 directly in equity or other comprehensive income, in which case it is directly in equity or other comprehensive income. Current tax is expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.
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Fretherne Properties Limited Notes to the Accounts for the year ended 29 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2024 
£ 
Fair value at 30 March 2023
728,023 
Disposals
(135,000)
At 29 March 2024
593,023 
An independent professional revaluation of all investment properties, taking into account the open market conditions, was carried out as at 29 March 2019. In respect of the tangible fixed assets stated at valuations, the comparable historical cost value was £593,023 (2023 £669,967).
5
Investments
Other investments 
£ 
Valuation at 30 March 2023
294,683 
Additions
264,415 
Fair value adjustments
12,071 
Disposals
(115,235)
Valuation at 29 March 2024
455,934 
In respect of the listed investments stated at market value, the comparable historical costs are £401,588 (2023 £232,218).
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
885 
Trade debtors
- 
(569)
Other debtors
- 
229 
- 
545 
Amounts falling due after more than one year
2,290 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
404 
(729)
Other creditors
9,850 
23,896 
Accruals
15,858 
10,427 
26,112 
33,594 
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Fretherne Properties Limited Notes to the Accounts for the year ended 29 March 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
7,000 Ordinary shares of £1 each
7,000 
7,000 
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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