REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 26 OCTOBER 2023 TO 30 SEPTEMBER 2024 |
FOR |
FENLAND STORAGE HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 26 OCTOBER 2023 TO 30 SEPTEMBER 2024 |
FOR |
FENLAND STORAGE HOLDINGS LIMITED |
FENLAND STORAGE HOLDINGS LIMITED (REGISTERED NUMBER: 15237742) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 26 OCTOBER 2023 TO 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FENLAND STORAGE HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 26 OCTOBER 2023 TO 30 SEPTEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Tax Consultants |
27-29 Old Market |
Wisbech |
Cambridgeshire |
PE13 1NE |
FENLAND STORAGE HOLDINGS LIMITED (REGISTERED NUMBER: 15237742) |
BALANCE SHEET |
30 SEPTEMBER 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
FENLAND STORAGE HOLDINGS LIMITED (REGISTERED NUMBER: 15237742) |
BALANCE SHEET - continued |
30 SEPTEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
FENLAND STORAGE HOLDINGS LIMITED (REGISTERED NUMBER: 15237742) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 26 OCTOBER 2023 TO 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Fenland Storage Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At the balance sheet date the company had net liabilities of £(2,598,025) by virtue of its total liabilities exceeding its total assets. The directors are confident that the going concern basis for the preparation of the financial statements is appropriate, and have confirmed their continuing support for the company in writing. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 period 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 period 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 period was NIL. |
FENLAND STORAGE HOLDINGS LIMITED (REGISTERED NUMBER: 15237742) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 26 OCTOBER 2023 TO 30 SEPTEMBER 2024 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 26 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 25 October 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
6. | DEBTORS |
£ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
FENLAND STORAGE HOLDINGS LIMITED (REGISTERED NUMBER: 15237742) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 26 OCTOBER 2023 TO 30 SEPTEMBER 2024 |
9. | RELATED PARTY DISCLOSURES |
At the balance sheet date, being 30 September 2024, the company had the following loans outstanding with other companies outside of the group, in which there are common directorships: |
Amounts owed to Fenland Handling Services Limited | £1,499,824 |
Amounts owed by FHS Holdings Limited | £100 |
No interest has been charged on these balances. |
10. | PREFERENCE SHARES |
Allotted, issued and fully paid | 30.09.24 |
£ |
1,250,000 3% redeemable cumulative preference shares of £1 each | 1,250,000 |
1,750,000 0.1% redeemable cumulative preference shares of £1 each | 1,750,000 |
As at 30 September 2024 | 3,000,000 |
The 3% redeemable cumulative preference shares are classified as compound financial instruments, which have the characteristics of both debt and equity and may be redeemed at the option of the company. |
The debt element is the net present value of the liability relating to the future dividend stream and redemption and has been calculated using an equivalent rate of 8%, being the directors estimate of the cost of capital. |
The 0.1% redeemable cumulative preference shares are classified as compound financial instruments, which have the characteristics of both debt and equity and may be redeemed at the option of the company. |
The debt element is the net present value of the liability relating to the future dividend stream and redemption and has been calculated using an equivalent rate of 5.1%, being the directors estimate of the cost of capital. |
Debt | Equity |
Element | Element | Total |
3% redeemable cumulative preference shares | 468,750 | 781,250 | 1,250,000 |
0.1% redeemable cumulative preference shares | 34,314 | 1,715,686 | 1,750,000 |
As at 30 September 2024 | 503,064 | 2,496,936 | 3,000,000 |