REGISTERED NUMBER: 00314309 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

F. C. Stark Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Billings

C J Billings

R J Billings

S J Billings

SECRETARY:

S J Billings

REGISTERED OFFICE:

Gay Dawn Offices

Pennis Lane

Fawkham

Longfield

Kent

DA3 8LY

REGISTERED NUMBER:

00314309 (England and Wales)

FIXED ASSETS

Tangible assets

4

42,125

49,559

Investments

5

20,440,586

22,089,877

Investment property

6

50,089,896

50,275,995

70,572,607

72,415,431

CURRENT ASSETS

Stocks

10,530,694

12,637,692

Debtors

7

28,857,361

35,345,721

Cash at bank

275,166

53,374

39,663,221

48,036,787

CREDITORS

Amounts falling due within one year

8

2,078,825

2,477,020

NET CURRENT ASSETS

37,584,396

45,559,767

TOTAL ASSETS LESS CURRENT LIABILITIES

108,157,003

117,975,198

CREDITORS

Amounts falling due after more than one year

9

(55,705,756

)

(56,977,426

)

PROVISIONS FOR LIABILITIES

11

(5,160,927

)

(5,026,216

)

NET ASSETS

47,290,320

55,971,556

CAPITAL AND RESERVES

Called up share capital

12

90,749

90,749

Share premium

13

2,957,525

2,957,525

Capital redemption reserve

13

10,334

10,334

Fair value reserve

13

39,974,742

42,273,458

Retained earnings

13

4,256,970

10,639,490

SHAREHOLDERS' FUNDS

47,290,320

55,971,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A J Billings - Director

1.	STATUTORY INFORMATION

F. C. Stark Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

These are the individual Financial Statements of F.C. Stark Limited and are not the Consolidated Financial Statements of F.C. Stark Limited and its subsidiary undertakings. The company is exempt from the preparation of Consolidated Financial Statements, the company and its subsidiary undertakings qualify as small as set out in section 383 of the Companies Act 2006 and the parent and the group are considered eligible for the exemption as determined by references to section 384 and 399 (2A) of the Companies Act 2006.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Property, plant and equipment are valued at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates to write off each asset over its estimated useful life:

Plant, equipment and motor vehicles

15% -20% on reducing balance basis

Investment property

The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The fair value at 31 December 2024 of the properties has been determined by the directors of the company. The directors have adopted a valuation model based upon a multiple of the gross rental income adjusted where appropriate for any individual property market considerations. The directors over-ride their valuation model where independent valuation specialists have been engaged.

Inventories

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Fixed asset investments

Investments in subsidiaries are recognised at fair value. Revaluation surpluses are recognised in the income statements. Deferred tax is not provided on revaluation surpluses because they are exempt for company tax purposes.

Investments in associates are recognised at cost less any accumulated impairment losses.

Licence deposits

The company grants licences for consideration and in return the licenees are entitled to occupy properties owned by the company. The terms of the licence include the payment of a licence deposit to occupy the property and repayment of the licence deposit by the company on vacation of the property by the licencee.

The licence deposits are included in creditors falling due after more than one year even though they are potentially repayable on demand. There is substantial demand for properties which are made available in this manner and on renewal of licences there is an immediate replacement grant of and increase in the value of the licence deposit. The company has adopted the policy to recognise licence deposits as creditors falling due after more than one year in order to properly reflect the nature of the creditor.

Under FRS102 it is a requirement to discount creditors falling due after more than one year. The company has not complied with FRS102 by not discounting the licence deposits. The directors are of the opinion that on renewal the increase in value of the licence deposits negates the changes in time-values of them, the purpose of discounting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

156,001

DEPRECIATION

At 1 January 2024

106,442

Charge for year

7,434

At 31 December 2024

113,876

NET BOOK VALUE

At 31 December 2024

42,125

At 31 December 2023

49,559

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

21,939,876

150,001

22,089,877

Revaluations

(1,649,291

)

-

(1,649,291

)

At 31 December 2024

20,290,585

150,001

20,440,586

NET BOOK VALUE

At 31 December 2024

20,290,585

150,001

20,440,586

At 31 December 2023

21,939,876

150,001

22,089,877

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Grays Thurrock Properties Limited

Registered office: Gay Dawn Offices, Pennis Lane, Fawkham, Kent DA3 8LY

Nature of business: Construction

%

Class of shares:

holding

Ordinary shares of £ 1 each

100.00

2024

2023

£

£

Aggregate capital and reserves

(1,330,868

)

37,441

Loss for the year

(1,368,309

)

(114,262

)

Watchingwell Farms Limited

Registered office: Gay Dawn Offices, Pennis Lane, Fawkham, Longfield, Kent DA3 8LY

Nature of business: Agriculture

%

Class of shares:

holding

Ordinary shares of £ 1 each

93.70

2024

2023

£

£

Aggregate capital and reserves

6,432,302

6,284,451

Profit/(loss) for the year

147,851

(284,443

)

Oncoland Limited

Registered office: Gay Dawn Offices, Pennis Lane, Fawkham, Kent DA3 8LY

Nature of business: Agriculture

%

Class of shares:

holding

Ordinary shares of £1 each

100.00

2024

2023

£

£

Aggregate capital and reserves

15,592,799

16,010,512

(Loss)/profit for the year

(417,713

)

155,974

Healthcare Assets Limited

Registered office: Gay Dawn Office, Pennis Lane, Fawkham, Kent DA3 8LY

Nature of business: Dormant

%

Class of shares:

holding

Ordinary shares of £1 each

100.00

2024

2023

£

£

Aggregate capital and reserves

100

100

Valuation Methods

Shares in group undertakings are valued at fair value by reference to the company's share of the net assets of its subsidiaries as stated in their Financial Statements at 31 December 2024.

Interest in associate is stated at cost less any accumulated impairment losses.

If shares in group undertakings had not been revalued they would have been stated in the Balance Sheet at cost of £3,091,985 (2023 - £3,091,885).

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

50,275,995

Additions

567,995

Disposals

(754,094

)

At 31 December 2024

50,089,896

NET BOOK VALUE

At 31 December 2024

50,089,896

At 31 December 2023

50,275,995

Investment properties are stated in the balance sheet at their aggregate fair value based on valuations carried out at 31 December 2024 by the directors and independent valuation specialists. If investment property had not been revalued it would have been included at the historical cost of £22,162,521 (2023- £22,101,375).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

4,286,887

3,116,452

Other debtors

24,570,474

32,229,269

28,857,361

35,345,721

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

557,102

583,216

Trade creditors

155,005

88,608

Taxation and social security

215,491

229,496

Other creditors

1,151,227

1,575,700

2,078,825

2,477,020

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

44,329,601

45,006,971

Other creditors

11,376,155

11,970,455

55,705,756

56,977,426

Other creditors includes deposits of £11,376,155 (2023 - £11,970,455) received in exchange for the granting of licences to occupy some of the company's properties. No freehold or leasehold interest in the properties passes to the licensees. The deposits are valued at cost as they are repayable in full on demand.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

546,705

573,076

Bank loans

44,339,998

45,017,111

44,886,703

45,590,187

Nature of Security

Bank overdrafts and bank loans are secured by legal charges over the company's and its subsidiaries' properties and by guarantees given by the directors, subsidiaries and associated companies.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Fair value adjustments-

unrealised surplus on

investment properties

5,160,927

5,026,216

5,160,927

5,026,216

Deferred

tax

£

Balance at 1 January 2024

5,026,216

Provided during year

134,711

Charged during year

Balance at 31 December 2024

5,160,927

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal Value:

2024

2023

£

£

28,675

Ordinary A

£1

28,675

28,675

11,660

Ordinary B

£1

11,660

11,660

3,800

Ordinary C

£1

3,800

3,800

950

Ordinary D

£1

950

950

24,375

Ordinary E

£1

24,375

24,375

21,288

Ordinary F

£1

21,288

21,288

90,748

90,748

13.

RESERVES

Capital

Fair

Retained

Share

redemption

value

earnings

premium

reserve

reserve

Totals

£

£

£

£

£

At 1 January 2024

10,639,490

2,957,525

10,334

42,273,458

55,880,807

Deficit for the year

(8,514,541

)

(8,514,541

)

Dividends

(166,696

)

(166,696

)

Transfer of revaluation of

investments

1,916,439

-

-

(267,147

)

1,649,292

Transfer deferred tax

on investment property

135,034

-

-

(1,784,325

)

(1,649,291

)

Realised surplus on disposal

of investment property

247,244

-

-

(247,244

)

-

At 31 December 2024

4,256,970

2,957,525

10,334

39,974,742

47,199,571

14.	CONTINGENT LIABILITIES

National Westminster Bank PLC

In addition the company is a joint guarantor with Fernhead Homes Limited, Grays Thurrock Properties Limited and Watching Farms Limited to a £12 million guarantee to National Westminster Bank Plc dated 8.11.16 in respect of the borrowing of R.J. & D.E. Billing Limited supported by legal charges over the company's properties.

15.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.