| FENLANDS SHEEPSKIN CO LIMITED |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Information |
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Fenlands Sheepskin Co Limited is a UK registered private company limited by shares. The registered office is 45, Lord Street, Birmingham. B7 4DQ. |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention (except for the revaluation of fixed investments) and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The presentation currency is sterling. |
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Turnover |
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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 rendering of services. The rents are recognised when they are actually received by the company. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold investment buildings |
-Revalued in January 2024 |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investments in joint ventures are stated at cost and any distributions from the joint venture are recognised as income. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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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. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
MR AKBAR DEDAT |
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Firm: |
CRYSTAL BUSINESS SERVICES LTD |
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Date of audit report: |
28 December 2025 |
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| 3 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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| 4 |
Fixed Asset Investments |
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| Other |
| investments |
| £ |
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Cost |
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At 1 April 2024 |
3,130,000 |
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Additions |
572,348 |
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At 31 March 2025 |
3,702,348 |
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The freehold investment properties were valued by Property Link (Chartered Surveyors and Valuers) on 10th January 2024 on a current market value basis.The directors feel that the revalued amounts are the fair values of the investment properties and that depreciation is not appropriate for the year. |
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| 5 |
Investments held as current assets |
2025 |
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2024 |
| £ |
£ |
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Fair value |
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Unlisted investments |
566,898 |
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566,898 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Corporation tax |
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90,983 |
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90,983 |
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Taxation and social security costs |
(36,324) |
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1,550 |
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Other creditors |
20,665 |
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182,840 |
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75,324 |
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275,373 |
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| 7 |
Revaluation reserve |
2025 |
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2024 |
| £ |
£ |
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At 1 April 2024 |
448,600 |
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448,600 |
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At 31 March 2025 |
448,600 |
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448,600 |
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| 8 |
Related party transactions |
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The company has invested £566,898 in a joint venture with 7M Investments Ltd., a company where one of the company's shareholders is a director and 50% holder of the ordinary share capital. |
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| 9 |
Controlling party |
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The company is a wholly owned subsidiary of JH1 Group Limited(registration number 14718914) |
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| 10 |
Other information |
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FENLANDS SHEEPSKIN CO LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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45, LORD STREET |
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BIRMINGHAM. B7 4DQ |