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Registered Number: 08901130
England and Wales

 

 

 

FELIX ESTATES LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
Directors O Sheibani
Y Muhammad
A A Sheibani
A Sheibani
Registered Number 08901130
Registered Office Unit 1 Prospect Park Grangefield Road
Pudsey, Leeds, Yorkshire
LS28 6LF
Accountants The Sanderson Associates Ltd
19 Fulneck Mews,
Pudsey
Leeds
LS288SA
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2024.
Principal activities
The principal activity of the company is that of property rental.
Directors
The directors who served the company throughout the year were as follows:
O Sheibani
Y Muhammad
A A Sheibani
A Sheibani
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Y Muhammad
Director

Date approved: 11 July 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
The Sanderson Associates Ltd
31 December 2024



....................................................

The Sanderson Associates Ltd

19 Fulneck Mews,
Pudsey
Leeds
LS288SA
11 July 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 116,429    232,916 
Gross profit 116,429    232,916 
Administrative expenses (115,280)   (230,841)
Operating profit 1,149    2,075 
Profit/(Loss) on ordinary activities before taxation 1,149    2,075 
Tax on profit on ordinary activities (2,995)   (3,109)
Profit/(Loss) for the financial year (1,846)   (1,034)
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible assets 3 1,459,140    1,471,316 
1,459,140    1,471,316 
Current assets      
Debtors 4 39,462    40,331 
Cash at bank and in hand 53,243    152,558 
92,705    192,889 
Creditors: amount falling due within one year 5 (1,563,031)   (1,673,545)
Net current assets (1,470,326)   (1,480,656)
 
Total assets less current liabilities (11,186)   (9,340)
Net assets (11,186)   (9,340)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (11,286)   (9,440)
Shareholders' funds (11,186)   (9,340)
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 July 2025 and were signed on its behalf by:


-------------------------------
Y Muhammad
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2023 100  (8,406) (8,306)
Profit for the year (1,034) (1,034)
Total comprehensive income for the year (1,034) (1,034)
Total investments by and distributions to owners
At 31 December 2023 100  (9,440) (9,340)
At 01 January 2024 100  (9,440) (9,340)
Profit for the year (1,846) (1,846)
Total comprehensive income for the year (1,846) (1,846)
Total investments by and distributions to owners
At 31 December 2024 100  (11,286) (11,186)
6
General Information
Felix Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 08901130, registration address Unit 1 Prospect Park Grangefield Road, Pudsey, Leeds, Yorkshire, LS28 6LF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on the going concern basis, the validity of which is dependent upon the continued support of the director and companies associated with him.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for rents and service charges, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.


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:


Freehold property - 2% straight line
Leasehold properties - over the term of the lease


If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment properties
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future paymentsdiscounted at a market rate of interest for a similar debt instrument.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 4).
3.

Tangible assets

Cost or valuation Land and Buildings   Investment properties   Total
  £   £   £
At 01 January 2024 598,745    983,782    1,582,527 
Additions    
Disposals    
At 31 December 2024 598,745    983,782    1,582,527 
Depreciation
At 01 January 2024 111,211      111,211 
Charge for year 12,176      12,176 
On disposals    
At 31 December 2024 123,387      123,387 
Net book values
Closing balance as at 31 December 2024 475,358    983,782    1,459,140 
Opening balance as at 01 January 2024 487,534    983,782    1,471,316 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 34,073    18,265 
Other Debtors 5,389    22,066 
39,462    40,331 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 7,643    1,542 
Corporation Tax 2,994    3,109 
PAYE & Social Security 3,466    11,239 
Other Creditors 1,548,928    1,657,655 
1,563,031    1,673,545 

6.

Related party transactions

During the period the company charged rent and service charges to Metprint Limited, a company connected to Mr A Sheibani. In addition, Metprint Limited charged the company other operating costs.

At the year end a net amount of £11,415 (2023 - £58,840 creditor) was owed by Metprint Limited.

During the period one of the Directors provided the company with an interest free unsecured loan, which has no fixed repayment terms. The balance outstanding and included in creditors is £1,181,597 (2023 - £1,181,597).

Included within creditors are amounts totalling £341,508 (2023 - £334,881) which are due to other companies connected to Mr Sheibani.
7