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COMPANY REGISTRATION NUMBER: 01913204
Felgate Builders Limited
Unaudited financial statements
31 October 2024
Felgate Builders Limited
Statement of financial position
31 October 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
710,608
709,438
Current assets
Debtors
6
848
783
Cash at bank and in hand
190,013
187,221
---------
---------
190,861
188,004
Creditors: Amounts falling due within one year
7
( 29,267)
( 36,805)
---------
---------
Net current assets
161,594
151,199
---------
---------
Total assets less current liabilities
872,202
860,637
Provisions
Taxation including deferred tax
( 104,658)
( 77,305)
---------
---------
Net assets
767,544
783,332
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
372,280
372,280
Profit and loss account
394,264
410,052
---------
---------
Shareholders funds
767,544
783,332
---------
---------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Felgate Builders Limited
Statement of financial position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 31 March 2025 , and are signed on behalf of the board by:
A A Delaney
Director
Company registration number: 01913204
Felgate Builders Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Gables, Old Market Street, Thetford, Norfolk, IP24 2EN. The company's trading address during the year was Neyland House, 11 The Street, Barton Mills, Bury St Edmunds, Suffolk, IP28 6AW.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
4. Employee numbers
The average number of employees during the year was 2 (2023: 2 ).
5. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1 November 2023
709,438
709,438
Additions
1,357
1,357
---------
------
---------
At 31 October 2024
709,438
1,357
710,795
---------
------
---------
Depreciation
At 1 November 2023
Charge for the year
187
187
---------
------
---------
At 31 October 2024
187
187
---------
------
---------
Carrying amount
At 31 October 2024
709,438
1,170
710,608
---------
------
---------
At 31 October 2023
709,438
709,438
---------
------
---------
Tangible assets held at valuation Investment properties are measured at fair value. The directors assess and determine the fair value of the investment properties at each reporting date. The value inevitably has a degree of judgement involved in that each property is unique and value can only be ultimately tested in the market itself. The tangible fixed assets were revalued in March 2023 by the directors.
6. Debtors
2024
2023
£
£
Other debtors
848
783
----
----
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Social security and other taxes
2,394
2,028
Other creditors
26,873
34,777
-------
-------
29,267
36,805
-------
-------