| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| FELCO DEVELOPMENTS LIMITED |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Non distributable reserves | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the invoiced value of rents and management fees charged by the company. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and equipment | - |
| Fixtures & Fittings | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Fixtures |
| property | equipment | & Fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2023 |
| Revaluations | 493,761 |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 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 |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Other loans |
| 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: | £ | £ |
| Ordinary | £1 | 20,000 | 20,000 |
| 10. | RESERVES |
| Non |
| Retained | distributable |
| earnings | reserves | Totals |
| £ | £ | £ |
| At 1 October 2023 | 798,591 |
| Profit for the year | - |
| Transfer to non dist reserves | (493,761 | ) | 493,761 | - |
| At 30 September 2024 | 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. |