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COMPANY REGISTRATION NUMBER: 01122020
FINDLAY INVESTMENTS LIMITED
Filleted Unaudited Financial Statements
31 March 2024
FINDLAY INVESTMENTS LIMITED
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
11,850,000
11,850,000
Investments
6
2
2
-------------
-------------
11,850,002
11,850,002
Current assets
Debtors
7
5,345,654
5,366,835
Cash at bank and in hand
562,079
360,906
------------
------------
5,907,733
5,727,741
Creditors: amounts falling due within one year
8
2,014,148
1,727,397
------------
------------
Net current assets
3,893,585
4,000,344
-------------
-------------
Total assets less current liabilities
15,743,587
15,850,346
Creditors: amounts falling due after more than one year
9
4,520,000
4,700,000
Provisions
Taxation including deferred tax
1,450,000
1,450,000
-------------
-------------
Net assets
9,773,587
9,700,346
-------------
-------------
Capital and reserves
Called up share capital
100
100
Fair value reserve
6,211,749
6,211,749
Profit and loss account
3,561,738
3,488,497
------------
------------
Shareholders funds
9,773,587
9,700,346
------------
------------
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 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FINDLAY INVESTMENTS LIMITED
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 27 June 2025 , and are signed on behalf of the board by:
H Last
Director
Company registration number: 01122020
FINDLAY INVESTMENTS LIMITED
Notes to the Financial Statements
Year ended 31 March 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 Hallswelle House, 1 Hallswelle Road, London, NW110DH.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents rent receivable net of Value Added Tax.
Income tax
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
20% reducing balance
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Freehold property
Long leasehold property
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
7,600,000
4,250,000
9,961
11,859,961
------------
------------
-------
-------------
Depreciation
At 1 April 2023 and 31 March 2024
9,961
9,961
------------
------------
-------
-------------
Carrying amount
At 31 March 2024
7,600,000
4,250,000
11,850,000
------------
------------
-------
-------------
At 31 March 2023
7,600,000
4,250,000
11,850,000
------------
------------
-------
-------------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2023 and 31 March 2024
2
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
2
----
At 31 March 2023
2
----
7. Debtors
2024
2023
£
£
Trade debtors
304,957
326,138
Other debtors
5,040,697
5,040,697
------------
------------
5,345,654
5,366,835
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
916,933
944,248
Corporation tax
182,332
141,542
Social security and other taxes
33,736
33,490
Amounts owed by subsidiary company
211,516
211,516
Other creditors
669,631
396,601
------------
------------
2,014,148
1,727,397
------------
------------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,520,000
4,700,000
------------
------------