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Registration number: 07153476

Fixlands (Investments) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Fixlands (Investments) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Fixlands (Investments) Limited

Company Information

Directors

Mr S R M Thompson

Mr M R Feeny

Registered office

18 Northcott Ave
London
N22 7DB

Accountants

Phillip Bates and Co Limited
Chartered Accountants
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

 

Fixlands (Investments) Limited

(Registration number: 07153476)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

575,000

575,000

Current assets

 

Debtors

5

22,501

19,906

Cash at bank and in hand

 

91

49

 

22,592

19,955

Creditors: Amounts falling due within one year

6

(31,639)

(22,311)

Net current liabilities

 

(9,047)

(2,356)

Total assets less current liabilities

 

565,953

572,644

Creditors: Amounts falling due after more than one year

6

(213,447)

(254,580)

Net assets

 

352,506

318,064

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

352,505

318,063

Shareholders' funds

 

352,506

318,064

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

 

Fixlands (Investments) Limited

(Registration number: 07153476)
Balance Sheet as at 30 September 2024

.........................................
Mr S R M Thompson
Director

.........................................
Mr M R Feeny
Director

 

Fixlands (Investments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
18 Northcott Ave
London
N22 7DB

These financial statements were authorised for issue by the Board on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Fixlands (Investments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Fixlands (Investments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Investment properties

2024
£

At 1 October 2023

575,000

At 30 September 2024

575,000


The property was valued by Mason Owen, Chartered Surveyors in April 2022. Based on their experience of the local property market the directors believe that the value is not materially different at the year end.

5

Debtors

Current

2024
£

2023
£

Trade debtors

20,414

17,460

Prepayments

2,087

2,446

 

22,501

19,906

 

Fixlands (Investments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,460

1,523

Taxation and social security

14,492

8,321

Accruals and deferred income

14,687

12,467

31,639

22,311

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

213,447

254,580

2024
£

2023
£

Due after more than five years

After more than five years not by instalments

213,447

254,580

-

-

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Related party transactions

Summary of transactions with parent


Fixlands Limited

 
Unsecured and interest free loan from Fixlands Limited. The amount owing at 30th September 2024 was £213,447 (2023 £254,580).

 

 

Fixlands (Investments) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Parent and ultimate parent undertaking

The company's immediate parent is Fixlands Limited, incorporated in England and Wales.

 The ultimate parent is Colin Thompson Holding Limited, incorporated in England and Wales.