REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
FARLIND INVESTMENTS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
FARLIND INVESTMENTS LIMITED |
FARLIND INVESTMENTS LIMITED (REGISTERED NUMBER: 00797702) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 5 April 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 6 |
FARLIND INVESTMENTS LIMITED |
COMPANY INFORMATION |
for the year ended 5 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
88 Crawford Street |
London |
W1H 2EJ |
FARLIND INVESTMENTS LIMITED (REGISTERED NUMBER: 00797702) |
ABRIDGED BALANCE SHEET |
5 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
FARLIND INVESTMENTS LIMITED (REGISTERED NUMBER: 00797702) |
ABRIDGED BALANCE SHEET - continued |
5 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
FARLIND INVESTMENTS LIMITED (REGISTERED NUMBER: 00797702) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 5 April 2024 |
1. | STATUTORY INFORMATION |
Farlind Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in UK Pound Sterling, which is the functional currency of the company. |
Turnover |
Turnover represents amounts receivable in the form of rental income derived wholly from within the U.K. |
Income is recognised on the production of invoices. The amount of revenue can be reliably measured and it is probable that the economic benefits associated with the transaction will flow to the entity. |
Investment property |
Investment property is initially measured at cost on acquisition and subsequently at fair value as at each accounts date. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold and charged to the profit and loss account. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Cash and cash equivalents |
Cash and cash equivalents include cash on hand, demand deposits and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are shown within borrowings in current liabilities on the statement on financial position. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
FARLIND INVESTMENTS LIMITED (REGISTERED NUMBER: 00797702) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 5 April 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2023 |
Additions |
Revaluations | (23,766 | ) |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
Fair value at 5 April 2024 is represented by: |
£ |
Valuation in 2017 | (10,000 | ) |
Valuation in 2016 | 450,000 |
Cost | 3,150,000 |
3,590,000 |
5. | RELATED PARTY DISCLOSURES |
During the year, the company paid £15,500 (2023 £22,500) in management fees to a business owned by the husband of Mrs L J Silverman, a director. |
6. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the shareholder directors. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
FARLIND INVESTMENTS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farlind Investments Limited for the year ended 5 April 2024 which comprise the Abridged Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Farlind Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Farlind Investments Limited and state those matters that we have agreed to state to the Board of Directors of Farlind Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farlind Investments Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Farlind Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Farlind Investments Limited. You consider that Farlind Investments Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Farlind Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
88 Crawford Street |
London |
W1H 2EJ |