Company Registration No. 12575283 (England and Wales)
Ferrari Estates Ltd
Unaudited accounts
for the year ended 31 March 2025
Ferrari Estates Ltd
Unaudited accounts
Contents
Ferrari Estates Ltd
Company Information
for the year ended 31 March 2025
Company Number
12575283 (England and Wales)
Registered Office
109 Highland Road
Bromley
BR1 4AA
England
Accountants
London Accounting Firm
95 Middlesex Street
London
E1 7DA
Ferrari Estates Ltd
Statement of financial position
as at 31 March 2025
Investment property
1,230,000
1,165,000
Cash at bank and in hand
6,922
-
Creditors: amounts falling due within one year
(114,960)
(102,660)
Net current liabilities
(103,275)
(98,149)
Total assets less current liabilities
1,126,925
1,067,835
Creditors: amounts falling due after more than one year
(896,742)
(896,742)
Provisions for liabilities
Other provisions
(14,785)
(2,435)
Net assets
215,398
168,658
Called up share capital
1
1
Profit and loss account
215,397
168,657
Shareholders' funds
215,398
168,658
For the year ending 31 March 2025 the company was entitled to exemption from audit 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 March 2025 and were signed on its behalf by
Andre Ferrari
Director
Company Registration No. 12575283
Ferrari Estates Ltd
Notes to the Accounts
for the year ended 31 March 2025
Ferrari Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 12575283. The registered office is 109 Highland Road, Bromley, BR1 4AA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25 straight line basis
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Ferrari Estates Ltd
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Fair value at 1 April 2024
1,165,000
Net gain from fair value adjustments
65,000
At 31 March 2025
1,230,000
Investment property was valued on an open market basis on 31 March 2025 by the director. Fair value at 31 March 2025 is represented by:
Valuation in 2022 62,951
Valuation in 2023 (30,137)
Valuation in 2024 (20,000)
Valuation in 2025 65000
Cost 1,152,186
If investment property had not been revalued it would have been included at the following historical cost: £1,152,186
Amounts falling due within one year
Amounts falling due after more than one year
Accrued income and prepayments
726
159
Ferrari Estates Ltd
Notes to the Accounts
for the year ended 31 March 2025
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
-
68
Trade creditors
6,185
6,185
Taxes and social security
4,230
1,957
Other creditors
31,318
40,474
Loans from directors
71,511
53,976
8
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
896,742
896,742
The company's borrowings in respect of its investment properties is secured by first legal charges:
Total secured debts - £671,467
9
Transactions with related parties
At the balance sheet date the company owed its director £65,511 (2024: £53,976) the loan being interest free and having no fixed repayment date.
At the balance sheet date £256,595 (2024: £264,035) was owed to an entity connected with key management personnel. The amount is interest-free and has no fixed repayment date. The liability is included in other creditors.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).