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REGISTERED NUMBER: 04446242 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

FELCO DEVELOPMENTS LIMITED

FELCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04446242)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


FELCO DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: J Feller
E J Feller





SECRETARY: J Feller





REGISTERED OFFICE: Georgian House
Park Hill Road
Torquay
Devon
TQ1 2DZ





REGISTERED NUMBER: 04446242 (England and Wales)





ACCOUNTANTS: Sheppard Rockey & Williams Ltd
Sannerville Chase
Exminster
Exeter
Devon
EX6 8AT

FELCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04446242)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 741,679 767,188
Investment property 5 2,529,036 2,035,275
3,270,715 2,802,463

CURRENT ASSETS
Debtors 6 427,976 1,183,097
Cash at bank 145 872
428,121 1,183,969
CREDITORS
Amounts falling due within one year 7 2,163,063 3,163,624
NET CURRENT LIABILITIES (1,734,942 ) (1,979,655 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,535,773

822,808

PROVISIONS FOR LIABILITIES 8,555 4,217
NET ASSETS 1,527,218 818,591

CAPITAL AND RESERVES
Called up share capital 9 20,000 20,000
Non distributable reserves 10 1,006,227 512,466
Retained earnings 10 500,991 286,125
SHAREHOLDERS' FUNDS 1,527,218 818,591

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

FELCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04446242)

BALANCE SHEET - continued
30 SEPTEMBER 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 20 June 2025 and were signed on its behalf by:




J Feller - Director



E J Feller - Director


FELCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04446242)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Felco Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the invoiced value of rents and management fees charged by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 0% due to assets residual value
Plant and equipment - 20% on cost
Fixtures & Fittings - 10% on cost

Freehold property is not depreciated since in the opinion of the directors the amount would be immaterial owing to the residual value of the property. This is a departure from Financial Reporting Standard 102 1A (the requirement to depreciate an asset over its useful economic life).

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.

Going concern
The accounts have been prepared on a going concern basis. The directors have confirmed they will provide sufficient funding to enable the company to continue trading for at least one year from the date of the approval of these accounts.

FELCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04446242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Fixtures
property equipment & Fittings Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 702,942 259,144 243,624 1,205,710
DEPRECIATION
At 1 October 2023 - 254,560 183,962 438,522
Charge for year - 1,146 24,363 25,509
At 30 September 2024 - 255,706 208,325 464,031
NET BOOK VALUE
At 30 September 2024 702,942 3,438 35,299 741,679
At 30 September 2023 702,942 4,584 59,662 767,188

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 2,035,275
Revaluations 493,761
At 30 September 2024 2,529,036
NET BOOK VALUE
At 30 September 2024 2,529,036
At 30 September 2023 2,035,275

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2018 (287,534 )
Valuation in 2021 800,000
Valuation in 2024 493,761
Cost 1,522,809
2,529,036

If the investment property had not been revalued it would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 1,522,809 1,522,809

The investment property was valued on an open market basis on 30 September 2024 by the directors .

FELCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04446242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 523 613
Other debtors 427,453 1,182,484
427,976 1,183,097

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 5,239 6,652
Taxation and social security 53,150 41,505
Other creditors 2,104,674 3,115,467
2,163,063 3,163,624

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Other loans 836,790 752,678

The loan is secured by way of a fixed and floating charge dated 19 April 2024 on property owned by one of the directors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
20,000 Ordinary £1 20,000 20,000

10. RESERVES
Non
Retained distributable
earnings reserves Totals
£    £    £   

At 1 October 2023 286,125 512,466 798,591
Profit for the year 708,627 - 708,627
Transfer to non dist reserves (493,761 ) 493,761 -
At 30 September 2024 500,991 1,006,227 1,507,218

11. RELATED PARTY DISCLOSURES

Included in other creditors are loans from the director totalling £184,017 (2023 - £172,433). The loans are interest free, unsecured and repayable on demand.