Fels Point Properties Limited 11533928 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Buying And Selling Of Own Real Estate Digita Accounts Production Advanced 6.30.9574.0 true 11533928 2023-09-01 2024-08-31 11533928 2024-08-31 11533928 core:CurrentFinancialInstruments 2024-08-31 11533928 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 11533928 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 11533928 bus:SmallEntities 2023-09-01 2024-08-31 11533928 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 11533928 bus:FilletedAccounts 2023-09-01 2024-08-31 11533928 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 11533928 bus:RegisteredOffice 2023-09-01 2024-08-31 11533928 bus:Director1 2023-09-01 2024-08-31 11533928 bus:Director2 2023-09-01 2024-08-31 11533928 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 11533928 core:RevaluationReserve core:LandBuildings 2023-09-01 2024-08-31 11533928 core:LandBuildings 2023-09-01 2024-08-31 11533928 countries:AllCountries 2023-09-01 2024-08-31 11533928 2023-08-31 11533928 2022-09-01 2023-08-31 11533928 2023-08-31 11533928 core:CurrentFinancialInstruments 2023-08-31 11533928 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 11533928 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 11533928 core:RetainedEarningsAccumulatedLosses core:LandBuildings 2022-09-01 2023-08-31 11533928 core:RevaluationReserve core:LandBuildings 2022-09-01 2023-08-31 11533928 core:LandBuildings 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 11533928

Fels Point Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Fels Point Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Fels Point Properties Limited

Company Information

Directors

M W Pearce

C E J Pearce

Registered office

14 Hungerford Drive
Reading
Berkshire
RG1 6JA

Accountants

Vale & West Accountancy Services Limited
Chartered Accountants
Victoria House
26 Queen Victoria House
Reading
Berkshire
RG1 1TG

 

Fels Point Properties Limited

(Registration number: 11533928)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

652,413

652,413

Current assets

 

Debtors

5

1,350

2,274

Cash at bank and in hand

 

16,471

10,092

 

17,821

12,366

Creditors: Amounts falling due within one year

6

(152,202)

(156,912)

Net current liabilities

 

(134,381)

(144,546)

Total assets less current liabilities

 

518,032

507,867

Creditors: Amounts falling due after more than one year

6

(392,361)

(392,361)

Provisions for liabilities

(23,857)

(23,857)

Net assets

 

101,814

91,649

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

87,020

87,020

Retained earnings

14,792

4,627

Shareholders' funds

 

101,814

91,649

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 July 2025 and signed on its behalf by:
 

 

Fels Point Properties Limited

(Registration number: 11533928)
Balance Sheet as at 31 August 2024 (continued)

.........................................
M W Pearce
Director

 

Fels Point Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The address of its registered office is:
14 Hungerford Drive
Reading
Berkshire
RG1 6JA

These financial statements were authorised for issue by the Board on 19 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Rental receivable is recognised on straight line basis over the term of the rental period.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

 

Fels Point Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 September

652,413

At 31 August

652,413

Investment property was valued on an open market basis on 31 August 2024 by by the directors.

 

Fels Point Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Prepayments

-

924

Other debtors

1,350

1,350

 

1,350

2,274

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,854

1,636

Accruals and deferred income

3,315

1,508

Other creditors

146,033

153,768

152,202

156,912

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

392,361

392,361

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

87,020

87,020

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

87,020

23,857

110,877