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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FRED 251 LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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FRED 251 LIMITED |
FRED 251 LIMITED (REGISTERED NUMBER: 04837583) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FRED 251 LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 December 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditor |
10 London Mews |
Paddington |
London |
W2 1HY |
FRED 251 LIMITED (REGISTERED NUMBER: 04837583) |
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BALANCE SHEET |
31 December 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 and authorised for issue on
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FRED 251 LIMITED (REGISTERED NUMBER: 04837583) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Fred 251 Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
Although there are uncertainties surrounding the impact of the Covid-19 virus, after reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
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Turnover |
Turnover is measured as the fair value of consideration received or receivable, net of discounts and value added tax. |
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Turnover represents rental income recognised on a straight line basis over the term of the lease and is recognised once the revenue can be measured reliably. |
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Tangible fixed assets |
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Short leasehold property | - |
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Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. |
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors, other creditors and loans from/to related parties. |
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The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account as incurred. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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FRED 251 LIMITED (REGISTERED NUMBER: 04837583) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
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4. | TANGIBLE FIXED ASSETS |
Short |
leasehold |
property |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Other debtors |
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Accrued income |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade creditors |
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VAT | 600 | 600 |
Other creditors |
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Accruals and deferred income |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | OTHER FINANCIAL COMMITMENTS |
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Operating lease commitments for leases expiring in more than 5 years amount to £2,283,167 (2018: £2,066,167). |
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9. | RELATED PARTY DISCLOSURES |
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As at 31 December 2019 a balance of £350,000 is owed to Fred 251 from an entity holding a participating interest in the company. This is included within other debtors. |