IRIS Accounts Production v24.3.2.46 03508336 director 1.3.23 29.2.24 29.2.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh035083362023-02-28035083362024-02-29035083362023-03-012024-02-29035083362022-02-28035083362022-03-012023-02-28035083362023-02-2803508336ns15:EnglandWales2023-03-012024-02-2903508336ns14:PoundSterling2023-03-012024-02-2903508336ns10:Director12023-03-012024-02-2903508336ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2903508336ns10:SmallEntities2023-03-012024-02-2903508336ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2903508336ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2903508336ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2903508336ns10:FullAccounts2023-03-012024-02-2903508336ns10:CompanySecretary12023-03-012024-02-2903508336ns10:RegisteredOffice2023-03-012024-02-2903508336ns5:CurrentFinancialInstruments2024-02-2903508336ns5:CurrentFinancialInstruments2023-02-2803508336ns5:Non-currentFinancialInstruments2024-02-2903508336ns5:Non-currentFinancialInstruments2023-02-2803508336ns5:ShareCapital2024-02-2903508336ns5:ShareCapital2023-02-2803508336ns5:RetainedEarningsAccumulatedLosses2024-02-2903508336ns5:RetainedEarningsAccumulatedLosses2023-02-2803508336ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-2903508336ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2803508336ns5:Non-currentFinancialInstruments2023-03-012024-02-2903508336ns5:DeferredTaxation2023-02-2803508336ns5:DeferredTaxation2024-02-29
REGISTERED NUMBER: 03508336 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

FINELEAF PROPERTIES LTD

FINELEAF PROPERTIES LTD (REGISTERED NUMBER: 03508336)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FINELEAF PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr D Fischer





SECRETARY: Mr K Winter





REGISTERED OFFICE: 105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ





REGISTERED NUMBER: 03508336 (England and Wales)





ACCOUNTANTS: DAS Accounting & Partners (UK) LLP
105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ

FINELEAF PROPERTIES LTD (REGISTERED NUMBER: 03508336)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 5 900,000 900,000

CREDITORS
Amounts falling due within one year 6 (22,285 ) (13,176 )
NET CURRENT LIABILITIES (22,285 ) (13,176 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

877,715

886,824

CREDITORS
Amounts falling due after more than one
year

7

(454,636

)

(454,549

)

PROVISIONS FOR LIABILITIES 8 (46,000 ) (46,000 )
NET ASSETS 377,079 386,275

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 376,979 386,175
SHAREHOLDERS' FUNDS 377,079 386,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 February 2025 and were signed by:




Mr D Fischer - Director


FINELEAF PROPERTIES LTD (REGISTERED NUMBER: 03508336)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Fineleaf Properties Ltd 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historic cost convention except that investment property is measured at fair value through profit or loss.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The valuation of investment properties is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions.Therefore, the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertiblepreference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


FINELEAF PROPERTIES LTD (REGISTERED NUMBER: 03508336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 900,000
NET BOOK VALUE
At 29 February 2024 900,000
At 28 February 2023 900,000

The director is of the opinion that £900,000 represents the open market value of the company's investment property at 29 February 2024. The historical cost of the investment property is £513,491 (2023: £513,491).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 267 178
Taxation 3,913 3,913
Other creditors 18,105 9,085
22,285 13,176

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 454,636 454,549

FINELEAF PROPERTIES LTD (REGISTERED NUMBER: 03508336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 454,636 454,549

The bank loan is secured by legal charges over the company's investment property.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 46,000 46,000

Deferred
tax
£   
Balance at 1 March 2023 46,000
Balance at 29 February 2024 46,000

The provision for deferred tax is in relation to timing differences in respect of the revaluation of investment property.

9. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.