REGISTERED NUMBER: 03664260 (England and Wales)

FENGARI LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A A Houstoun-Boswall

REGISTERED OFFICE:

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

REGISTERED NUMBER:

03664260 (England and Wales)

ACCOUNTANTS:

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

FIXED ASSETS

Tangible assets

4

1,900

2,849

Investment property

5

88,940

100,000

90,840

102,849

CURRENT ASSETS

Debtors

6

19,089

46,583

Cash at bank

1,308

83,966

20,397

130,549

CREDITORS

Amounts falling due within one year

7

(35,438

)

(65,577

)

NET CURRENT (LIABILITIES)/ASSETS

(15,041

)

64,972

TOTAL ASSETS LESS CURRENT LIABILITIES

75,799

167,821

CREDITORS

Amounts falling due after more than one year

8

(808,345

)

(835,833

)

PROVISIONS FOR LIABILITIES

9

(12,595

)

(15,360

)

NET LIABILITIES

(745,141

)

(683,372

)

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

10

37,785

46,080

Retained earnings

(782,928

)

(729,454

)

(745,141

)

(683,372

)

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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2025 and were signed by:

A A Houstoun-Boswall - Director

1.	STATUTORY INFORMATION

Fengari 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.

Going concern

The financial statements have been prepared on a going concern basis as the director will continue to support the company to ensure third party liabilities are settled as they fall due.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services in the ordinary nature of the business and is shown net of Value Added Tax and overseas taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software has been fully amortised in the current year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost

Fixed asset investment

Fixed asset investments are initially recognised at cost. The investments are reviewed for impairment annually and a provision is made where there has been a diminution in value.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation and are accounted for in accordance with FRS 102 Section 16 "Investment Property." Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value.

Gain and losses arising from changes in the fair value of investment properties are included in the income statement in the period which they arise. Any gains are subsequently transferred to a non-distributable reserve. Any losses are only transferred to the non-distributable reserve as far as they can be matched against previous net unrealised gains.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instruments. All financial assets and liabilities are initially measured at transaction price (including transaction cost). The company has no financial assets measured at fair value through profit or loss. All subsequent remeasurement of financial assets and liabilities are recognised at amortised cost using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date where material. Transactions in foreign currencies are translated into sterling at the average rate of excacademic the acedemic term that the transaction occurs in. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

3,799

DEPRECIATION

At 1 January 2024

950

Charge for year

949

At 31 December 2024

1,899

NET BOOK VALUE

At 31 December 2024

1,900

At 31 December 2023

2,849

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

100,000

Impairment

(11,060

)

At 31 December 2024

88,940

NET BOOK VALUE

At 31 December 2024

88,940

At 31 December 2023

100,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

100,000

Valuation in 2024

(11,060

)

88,940

The director has valued the property as at 31 December 2024 at €105,000 (2023: €116,330). The rate of exchange used for the conversion was £1.1806 (2023: £1.1633).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,756

-

Other debtors

17,333

46,583

19,089

46,583

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,605

26,397

Taxation and social security

1,830

-

Other creditors

31,003

39,180

35,438

65,577

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

808,345

835,833

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

12,595

15,360

Deferred

tax

£

Balance at 1 January 2024

15,360

Movement

(2,765

)

Balance at 31 December 2024

12,595

A deferred tax provision of £12,595 (2023: £15,360), based on a tax rate of 25% (2023: 25%), was made based on the difference between the carrying amount of the property and its fair value.

Movements in the year are as a result of changes in fair value.

10.

RESERVES

Non - distributable reserves

£

Balance at 1 January 2024

46,080

Transfer to profit and loss reserve

(8,295

)

At 31 December 2024

37,785

The non-distributable reserve represents net unrealised gains on fair value adjustments arising on investment properties which have previously been taken to the income statement in the period they arose. The carrying value is after a provision has been made for deferred tax where relevant.

11.	RELATED PARTY DISCLOSURES

Within debtors amounts falling due within one year the company had an outstanding debt due from an entity which is under common control of £17,333 (2023 - £28,354).

Within creditors amounts falling due within one year the company had an outstanding loan due to an entity which is under common control of £18,612 (2023 - £17,035).

Within creditors amounts falling due after more than one year is an interest free loan of £781,481 (2023 - £803,334) due to a director.