REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
First Industrial Developments Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
First Industrial Developments Limited |
First Industrial Developments Limited (Registered number: 07024125) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
First Industrial Developments Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Certified Accountants & |
Statutory Auditors |
48 Belle Vue Terrace |
Malvern |
Worcestershire |
WR14 4QG |
First Industrial Developments Limited (Registered number: 07024125) |
Abridged Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
First Industrial Developments Limited (Registered number: 07024125) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
First Industrial Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover arises wholly in the UK. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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 balance sheet date. |
Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
First Industrial Developments Limited (Registered number: 07024125) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2022 | 866 |
Disposals | (566 | ) |
At 31 December 2022 | 300 |
NET BOOK VALUE |
At 31 December 2022 | 300 |
At 31 December 2021 | 866 |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
First Industrial Developments Limited (Registered number: 07024125) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
7. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemptions available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries. |
Ducks Ditty Limited |
A company owned and controlled by O C R Bertram. |
During the year the Company paid £700,000 (2021 : £200,000) to Ducks Ditty Limited in respect of consultancy charges. |
£Nil was included in creditors at the balance sheet date (2021 : £200,000). |
B1111 Holdings Limited |
A company owned and controlled by M Byrom. |
During the year the Company paid £2,100,000 (2021 : £600,000) to B1111 Holdings Limited in respect of consultancy charges. |
£Nil was included in creditors at the balance sheet date (2021 : £600,000). |
Keelaw Consulting Limited |
A company owned and controlled by J F Taylor. |
During the year the Company paid £700,000 (2021 : £200,000) to Keelaw Consulting Limited in respect of consultancy charges. |
£Nil was included in creditors at the balance sheet date (2021 : £200,000). |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is M Byrom. |