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REGISTERED NUMBER: 12769702 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Festina Investments Limited

Festina Investments Limited (Registered number: 12769702)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Festina Investments Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J A Cuming
Mrs M R Cuming





REGISTERED OFFICE: 9 St. Georges Yard
Farnham
Surrey
GU9 7LW





REGISTERED NUMBER: 12769702 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

Festina Investments Limited (Registered number: 12769702)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2 2
Investment property 5 500,000 525,000
500,002 525,002

CURRENT ASSETS
Debtors 6 4,540 4,507
Cash at bank 223,660 11,010
228,200 15,517
CREDITORS
Amounts falling due within one year 7 11,497 11,146
NET CURRENT ASSETS 216,703 4,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

716,705

529,373

CREDITORS
Amounts falling due after more than one year 8 (291,611 ) (296,343 )

PROVISIONS FOR LIABILITIES (3,072 ) (7,822 )
NET ASSETS 422,022 225,208

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 13,097 33,347
Retained earnings 408,825 191,761
422,022 225,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Festina Investments Limited (Registered number: 12769702)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





J A Cuming - Director


Festina Investments Limited (Registered number: 12769702)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Festina Investments Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable of the company letting and operating of own or leased real estate activities and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation 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 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.

3. EMPLOYEES AND DIRECTORS

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

Festina Investments Limited (Registered number: 12769702)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 2
NET BOOK VALUE
At 30 June 2024 2
At 30 June 2023 2

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 525,000
Revaluations (25,000 )
At 30 June 2024 500,000
NET BOOK VALUE
At 30 June 2024 500,000
At 30 June 2023 525,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2022 41,983
Valuation in 2023 (814 )
Valuation in 2024 (25,000 )
Cost 483,831
500,000

The investment properties were valued on an open market basis on 30 June 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 4,540 4,507

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 6,961 6,839
Taxation and social security 1,657 493
Other creditors 2,879 3,814
11,497 11,146

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 291,611 296,343

Festina Investments Limited (Registered number: 12769702)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 263,766 268,987

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 298,572 303,182

Landbay Partners Limited has a fixed charge over the investment property held in the company.

InterBay Funding Limited has a fixed charge over the investment property held in the company.

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £723 (2023 £757) to Plaice 11 Limited, a company in which a director holds a material interest.