0 false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,550,000 372,959 77,041 2,000,000 2,000,000 1,550,000 xbrli:pure xbrli:shares iso4217:GBP 13210493 2023-03-01 2024-02-29 13210493 2024-02-29 13210493 2023-02-28 13210493 2022-03-01 2023-02-28 13210493 2023-02-28 13210493 2022-02-28 13210493 bus:Director1 2023-03-01 2024-02-29 13210493 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13210493 core:WithinOneYear 2024-02-29 13210493 core:WithinOneYear 2023-02-28 13210493 core:ShareCapital 2024-02-29 13210493 core:ShareCapital 2023-02-28 13210493 core:OtherReservesSubtotal 2024-02-29 13210493 core:OtherReservesSubtotal 2023-02-28 13210493 core:RetainedEarningsAccumulatedLosses 2024-02-29 13210493 core:RetainedEarningsAccumulatedLosses 2023-02-28 13210493 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 13210493 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 13210493 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 13210493 bus:Director1 2023-02-28 13210493 bus:Director1 2024-02-29 13210493 bus:Director1 2022-02-28 13210493 bus:Director1 2023-02-28 13210493 bus:Director1 2022-03-01 2023-02-28 13210493 bus:SmallEntities 2023-03-01 2024-02-29 13210493 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13210493 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13210493 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13210493 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 13210493
Four Twelve Investments Limited
Filleted Unaudited Financial Statements
29 February 2024
Four Twelve Investments Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
2,000,000
1,550,000
Current assets
Debtors
5
50,000
50,000
Cash at bank and in hand
38,834
29,539
--------
--------
88,834
79,539
Creditors: amounts falling due within one year
6
2,492,250
1,691,876
------------
------------
Net current liabilities
2,403,416
1,612,337
------------
------------
Total assets less current liabilities
( 403,416)
( 62,337)
Provisions
28,918
14,280
---------
--------
Net liabilities
( 432,334)
( 76,617)
---------
--------
Capital and reserves
Called up share capital
2
2
Fair value reserve
123,281
60,878
Profit and loss account
( 555,617)
( 137,497)
---------
---------
Shareholders deficit
( 432,334)
( 76,617)
---------
---------
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 comprehensive income has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Four Twelve Investments Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Dr J Patel
Director
Company registration number: 13210493
Four Twelve Investments Limited
Notes to the Financial Statements
Year ended 29 February 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 82 Glen Eyre Road, Southampton, SO16 3NL, England.
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.
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
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Freehold property
£
Cost or valuation
At 1 March 2023
1,550,000
Additions
372,959
Revaluations
77,041
------------
At 29 February 2024
2,000,000
------------
Depreciation
At 1 March 2023 and 29 February 2024
------------
Carrying amount
At 29 February 2024
2,000,000
------------
At 28 February 2023
1,550,000
------------
The company holds property with a cost price of £1,847,801 (2023: £1,474,842). The property is reflected in the accounts at the fair value at the balance sheet date. The valuation is carried out annually by Dr J Patel , the director with reference to the open market.
5. Debtors
2024
2023
£
£
Other debtors
50,000
50,000
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,866,929
1,186,432
Trade creditors
3,271
2,493
Other creditors
622,050
502,951
------------
------------
2,492,250
1,691,876
------------
------------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Dr J Patel
( 430,417)
( 36,081)
( 466,498)
---------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Dr J Patel
( 415,362)
( 15,055)
( 430,417)
---------
--------
---------