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Company No: 14486332 (England and Wales)

FCD (ROTHBURY) LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

FCD (ROTHBURY) LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

FCD (ROTHBURY) LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
FCD (ROTHBURY) LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Current assets
Stocks 3 4,370,091 3,775,612
Debtors 4 35,281 718,952
4,405,372 4,494,564
Creditors: amounts falling due within one year 5 ( 5,168,951) ( 4,789,310)
Net current liabilities (763,579) (294,746)
Total assets less current liabilities (763,579) (294,746)
Net liabilities ( 763,579) ( 294,746)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 763,679 ) ( 294,846 )
Total shareholder's deficit ( 763,579) ( 294,746)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of FCD (Rothbury) Ltd (registered number: 14486332) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S M Leighton
Director

26 June 2025

FCD (ROTHBURY) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
FCD (ROTHBURY) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

FCD (Rothbury) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 30 St George Street, London, W1S 2FH, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the reporting date the company had net liabilities amounting to £763,579. Current liabilities includes £5,097,406 due to related parties, and so the risk of these debts being called in is low, until the company is in a position to repay its debt. The company's ultimate controlling shareholders have undertaken to provide such financial support as is required to ensure that the company is able to meet its working capital requirements for the foreseeable future.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Stocks

Land and properties held for development and sale are shown at the lower of cost and net realisable value at the reporting date. Cost is defined as actual purchase price plus development expenditure, net realisable value is based on estimated selling price less any further costs to be incurred to completion of disposal.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 0 0

3. Stocks

2024 2023
£ £
Other stock 4,370,091 3,775,612

Other stock comprise land and properties held for development and sale.

4. Debtors

2024 2023
£ £
Trade debtors 1,935 0
Other debtors 33,346 718,952
35,281 718,952

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 71,545 94,758
Other creditors 5,097,406 4,694,552
5,168,951 4,789,310

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

The company has taken advantage of the exemption available in accordance with Section 33.1A of Financial Reporting Standard 102 whereby it has not disclosed transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.