F G ESTATES LIMITED


Director	GLENDINNING, Nigel Charles


Registered Address	Carleton House
	136 Gray Street
	Workington
	CA14 2LU


Registered Number	09387638 (England and Wales)

Statement of Financial Position
31 January 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Investment property	3		650,000		650,000
			650,000		650,000
Current assets
Debtors	4	285,708		127,511
Cash at bank and on hand		11,650		140,833
		297,358		268,344
Creditors amounts falling due within one year	5	(335,924)		(325,806)
Net current assets (liabilities)			(38,566)		(57,462)
Total assets less current liabilities			611,434		592,538
Creditors amounts falling due after one year	6		(150,866)		(169,197)
Provisions for liabilities	7		(36,474)		(36,474)
Net assets			424,094		386,867
Capital and reserves
Called up share capital			100		100
Profit and loss account			423,994		386,767
Shareholders' funds			424,094		386,867

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 10 September 2025, and are signed on its behalf by:

GLENDINNING, Nigel Charles
Director
Registered Company No. 09387638

F G ESTATES LIMITED

Notes to the Financial Statements
for the year ended 31 January 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument 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 related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Investment property
	The director who is internal to the company has valued the property at 31 January 2025. The historical cost of the investment property is £429,576 (2024 - £429,576). There has been no valuation of investment property by an independent valuer.


		£
	Fair value at 01 February 24	650,000
	At 31 January 25	650,000

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	285,708	121,000
Other debtors	-	6,511
Total	285,708	127,511

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	18,398	18,398
Taxation and social security	13,575	3,690
Other creditors	295,489	295,000
Accrued liabilities and deferred income	8,462	8,718
Total	335,924	325,806

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	150,866	169,197
Total	150,866	169,197

7.	Provisions for liabilities

	2025	2024
	£	£
Other provisions	36,474	36,474
Total	36,474	36,474

8.	Related party transactions
	The following amounts were outstanding at the reporting end date: F G Estates Limited has a loan to a company in which Mr N C Glendinning is also a director and shareholder. The loan is repayable upon demand. At the balance sheet date the balance outstanding was £285,708 (2024 - £121,000). F G Estates Limited has loaned from a company in which Mr N C Glendinning is also a director and shareholder. The loan is interest free and repayable upon demand. At the balance sheet date the balance outstanding was £295,000 (2024 - £295,000).

Related party transactions

The following amounts were outstanding at the reporting end date:

F G Estates Limited has a loan to a company in which Mr N C Glendinning is also a director and shareholder.
The loan is repayable upon demand. At the balance sheet date the balance outstanding was
£285,708 (2024 - £121,000).

F G Estates Limited has loaned from a company in which Mr N C Glendinning is also a director and
shareholder. The loan is interest free and repayable upon demand. At the balance sheet date the balance
outstanding was £295,000 (2024 - £295,000).