Company registration number 04131426 (England and Wales)
FERGUSON HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
FERGUSON HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 5
FERGUSON HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investment properties
3
1,900,800
1,900,800
Current assets
Debtors
4
250
3,707
Investments
5
284,746
392,273
Cash at bank and in hand
237,572
254,573
522,568
650,553
Creditors: amounts falling due within one year
6
(59,783)
(90,068)
Net current assets
462,785
560,485
Total assets less current liabilities
2,363,585
2,461,285
Provisions for liabilities
(1,038)
(11,357)
Net assets
2,362,547
2,449,928
Capital and reserves
Called up share capital
165,000
165,000
Non-distributable profits reserve
740,268
775,550
Distributable profit and loss reserves
1,457,279
1,509,378
Total equity
2,362,547
2,449,928
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
FERGUSON HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 May 2023 and are signed on its behalf by:
Mr R Ferguson
Director
Company Registration No. 04131426
FERGUSON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
Ferguson Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 36 Hurst Lane, Bollington, Cheshire, SK10 5LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net rental income, excluding value added tax.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
FERGUSON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Investments in listed investment shares are included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the investments are sold.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
Investment property
2022
£
Fair value
At 1 January 2022 and 31 December 2022
1,900,800
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director on 31 December 2022. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2022
2021
£
£
Cost
1,133,162
1,133,162
Accumulated depreciation
-
-
Carrying amount
1,133,162
1,133,162
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
250
3,707
FERGUSON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
5
Current asset investments
2022
2021
£
£
Other investments
284,746
392,273
6
Creditors: amounts falling due within one year
2022
2021
£
£
Taxation and social security
36,246
12,131
Other creditors
23,537
77,937
59,783
90,068
7
Parent company
The parent undertaking is Poundwater Limited, and its registered office is 36 Hurst Lane, Bollington, Macclesfield, Cheshire, SK10 5LT.