Company Registration No. 11209779 (England and Wales)
FELDEN T1 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
FELDEN T1 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FELDEN T1 LIMITED
BALANCE SHEET
AS AT 31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
3
3,901,019
4,813,238
Current assets
Cash at bank and in hand
257,079
-
Creditors: amounts falling due within one year
4
(4,511,491)
(4,922,037)
Net current liabilities
(4,254,412)
(4,922,037)
Total assets less current liabilities
(353,393)
(108,799)
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
(353,395)
(108,801)
Total equity
(353,393)
(108,799)
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 March 2020 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.
T
he members have 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.
The financial statements were approved by the board of directors and authorised for issue on 17 November 2020 and are signed on its behalf by:
I G H Leggett
Director
Company Registration No. 11209779
FELDEN T1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
Felden T1 Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3rd Floor, 114a Cromwell Road, London, SW7 4AG.
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 a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At
the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
Investments
are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
1.4
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. B
asic
financial
instruments
are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost
.
Financial
instruments
classified as receivable
or payable
within one year are not amortised.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0
(2019 - 0).
3
Fixed asset investments
2020
2019
£
£
Investments
3,901,019
4,813,238
FELDEN T1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
3
Fixed asset investments
(Continued)
- 3 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2019
4,900,000
Disposals
(664,795)
At 31 March 2020
4,235,205
Impairment
At 1 April 2019
86,762
Impairment losses
247,424
At 31 March 2020
334,186
Carrying amount
At 31 March 2020
3,901,019
At 31 March 2019
4,813,238
The historic cost of investments is £4,235,205 (2019: £4,900,000). At 31 July 2020 the market value of the investments was £4,456,483.
4
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
2,879
3,717
Other creditors
4,508,612
4,918,320
4,511,491
4,922,037
5
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2