REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
FOR |
FDS LAND LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
FOR |
FDS LAND LIMITED |
FDS LAND LIMITED (REGISTERED NUMBER: 10354139) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
FDS LAND LIMITED (REGISTERED NUMBER: 10354139) |
BALANCE SHEET |
30 SEPTEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 8 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Fair value reserve |
Retained earnings | ( |
) |
Shareholders' funds |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(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. |
FDS LAND LIMITED (REGISTERED NUMBER: 10354139) |
BALANCE SHEET - continued |
30 SEPTEMBER 2022 |
In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
FDS LAND LIMITED (REGISTERED NUMBER: 10354139) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
1. | Statutory information |
FDS Land Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10354139. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is 17 - 19 Mannings Heath Road, Parkstone, Poole, Dorset, BH12 4NQ. |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
Tangible fixed assets |
Plant and machinery | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of comprehensive income. |
Stocks |
Work In Progress is valued at the lower of cost and net realisable value and represents land held for development including land in the course of development, which until legal completion for the sale of the asset, is recorded at cost. Cost comprises of direct costs including, where applicable, direct labour costs and overheads, not including any general administrative overheads, that have been incurred in bringing the asset to the condition and location as recorded at the balance sheet date. |
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 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. |
FDS LAND LIMITED (REGISTERED NUMBER: 10354139) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
2. | Accounting policies - continued |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Plant and |
machinery |
£ |
Cost |
At 1 October 2021 |
and 30 September 2022 |
Depreciation |
At 1 October 2021 |
Charge for year |
At 30 September 2022 |
Net book value |
At 30 September 2022 |
At 30 September 2021 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 October 2021 |
Additions |
Revaluations | 988,615 |
At 30 September 2022 |
Net book value |
At 30 September 2022 |
At 30 September 2021 |
FDS LAND LIMITED (REGISTERED NUMBER: 10354139) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
5. | Investment property - continued |
Fair value at 30 September 2022 is represented by: |
£ |
Valuation in 2021 | 38,569 |
Valuation in 2022 | 988,615 |
Cost | 3,653,373 |
4,680,557 |
Investment property was valued on an open market basis on 30 September 2022 by the director . |
6. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Accruals and deferred income |
8. | Provisions for liabilities |
2022 | 2021 |
£ | £ |
Deferred tax | 259,821 | 14,949 |
Deferred |
tax |
£ |
Balance at 1 October 2021 |
Credit to Income statement during year | ( |
) |
Charge to fair value reserve | 247,154 |
Balance at 30 September 2022 |
FDS LAND LIMITED (REGISTERED NUMBER: 10354139) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1.00 | 1 | 1 |
10. | Ultimate controlling party |
The company is ultimately controlled by Mr P Pidgley and his wife Mrs W Pidgley, by virtue of their joint 100% holding in the voting share capital of the parent company, FDS Holdings Limited. |