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REGISTERED NUMBER:
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FC Burrow Properties Limited |
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Financial Statements |
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for the Year Ended 30 April 2018 |
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REGISTERED NUMBER:
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FC Burrow Properties Limited |
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Financial Statements |
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for the Year Ended 30 April 2018 |
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FC Burrow Properties Limited (Registered number: 01255809) |
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Contents of the Financial Statements |
for the year ended 30 April 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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FC Burrow Properties Limited |
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Company Information |
for the year ended 30 April 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
33 George Street |
Wakefield |
West Yorkshire |
WF1 1LX |
FC Burrow Properties Limited (Registered number: 01255809) |
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Statement of Financial Position |
30 April 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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FC Burrow Properties Limited (Registered number: 01255809) |
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Statement of Financial Position - continued |
30 April 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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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
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(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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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FC Burrow Properties Limited (Registered number: 01255809) |
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Notes to the Financial Statements |
for the year ended 30 April 2018 |
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1. | STATUTORY INFORMATION |
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FC Burrow Properties Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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Level of Rounding |
All financial information presented has been rounded to the nearest £, unless otherwise stated. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The Directors are of the opinion that the Company continues to be a going concern and have therefore adopted that basis in |
the preparation of the financial statements. |
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Turnover |
Turnover represents rental income and excludes value added tax, where applicable. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Investment property |
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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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FC Burrow Properties Limited (Registered number: 01255809) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of |
financial position date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
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property | fittings | Totals |
£ | £ | £ |
COST |
At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for year |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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FC Burrow Properties Limited (Registered number: 01255809) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2018 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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Fair value at 30 April 2018 is represented by: |
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£ |
Valuation in 2009 | 1,110,924 |
Valuation in 2012 | 106,929 |
Valuation in 2013 | (22,179 | ) |
Valuation in 2014 | 294,395 |
Cost | 503,837 |
1,993,906 |
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If the investment properties had not been revalued they would have been included at the following historical cost: |
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2018 | 2017 |
£ | £ |
Cost | 503,837 | 484,931 |
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The directors are of the opinion that the above valuations represent the fair value of the properties at the balance sheet date. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by connected parties | 88,484 | 116,484 |
Directors' loan accounts | 12,039 | 158 |
Prepayments and accrued income |
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FC Burrow Properties Limited (Registered number: 01255809) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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VAT | 533 | 870 |
Accruals and deferred income |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 58,270 | 69,241 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary shares | £1 | 5,002 | 5,002 |
FC Burrow Properties Limited (Registered number: 01255809) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2018 |
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11. | RESERVES |
Retained |
earnings |
£ |
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At 1 May 2017 |
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Profit for the year |
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At 30 April 2018 |
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Included in retained earnings at 30 April 2018 is an amount of £1,299,283 (2017: £1,296,166) which is not distributable. |
This relates to an accumulated increase in the fair value of investment property, net of deferred tax. |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 April 2018 and 30 April 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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13. | RELATED PARTY DISCLOSURES |
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The Directors are of the opinion that there are no related party transactions as require disclosure under FRS 102 (Section |
1A). |