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COMPANY REGISTRATION NUMBER: NI058985
Farevale Developments Limited
Unaudited Financial Statements
30 April 2024
Farevale Developments Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
Farevale Developments Limited
Director's Report
Year ended 30 April 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2024 .
Director
The director who served the company during the year was as follows:
Mr J Edmonds
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 1 May 2024 and signed on behalf of the board by:
Mr J Edmonds
Director
Registered office:
c/o FEB Chartered Accountants
Linenhall Exchange
26 Linenhall Street
Belfast
BT2 8BG
Farevale Developments Limited
Statement of Income and Retained Earnings
Year ended 30 April 2024
2024
2023
Note
£
£
Administrative expenses
90
90
----
----
Operating loss
( 90)
( 90)
Income from shares in group undertakings
76,500
----
--------
(Loss)/profit before taxation
( 90)
76,410
Tax on (loss)/profit
----
--------
(Loss)/profit for the financial year and total comprehensive income
( 90)
76,410
----
--------
Retained earnings at the start of the year
136,263
59,853
---------
---------
Retained earnings at the end of the year
136,173
136,263
---------
---------
All the activities of the company are from continuing operations.
Farevale Developments Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
4
4
Current assets
Debtors
5
135,000
135,000
Cash at bank and in hand
25,425
30,515
---------
---------
160,425
165,515
Creditors: amounts falling due within one year
6
24,253
29,253
---------
---------
Net current assets
136,172
136,262
---------
---------
Total assets less current liabilities
136,176
136,266
---------
---------
Capital and reserves
Called up share capital
7
3
3
Profit and loss account
136,173
136,263
---------
---------
Shareholders funds
136,176
136,266
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 May 2024 , and are signed on behalf of the board by:
Mr J Edmonds
Director
Company registration number: NI058985
Farevale Developments Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is c/o FEB Chartered Accountants, Linenhall Exchange, 26 Linenhall Street, Belfast, BT2 8BG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Investments
Other investments other than loans
£
Cost
At 1 May 2023 and 30 April 2024
4
----
Impairment
At 1 May 2023 and 30 April 2024
----
Carrying amount
At 30 April 2024
4
----
At 30 April 2023
4
----
5. Debtors
2024
2023
£
£
Other debtors
135,000
135,000
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
2
2
Other creditors
24,251
29,251
--------
--------
24,253
29,253
--------
--------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
----
----
----
----
8. Related party transactions
The company was under the control of Mr Edmonds at the year end.