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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FYLDE CLASSICS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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FYLDE CLASSICS LIMITED |
FYLDE CLASSICS LIMITED (REGISTERED NUMBER: 01088596) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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FYLDE CLASSICS LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 MARCH 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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327 Clifton Drive South |
Lytham St Annes |
Lancashire |
FY8 1HN |
FYLDE CLASSICS LIMITED (REGISTERED NUMBER: 01088596) |
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BALANCE SHEET |
31 MARCH 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Profit & loss - non-distributable | 7 |
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Retained earnings | 7 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
FYLDE CLASSICS LIMITED (REGISTERED NUMBER: 01088596) |
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BALANCE SHEET - continued |
31 MARCH 2019 |
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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 on
by: |
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FYLDE CLASSICS LIMITED (REGISTERED NUMBER: 01088596) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Fylde Classics Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced rental income, excluding value added tax. |
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Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties |
are initially measured at cost, including transaction costs. |
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Subsequently investment properties are measured at fair value. Investment property valuations are based on an |
open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the |
fair value of investment properties are included in the Statement of Income and Retained Earnings in the period |
in which they arise. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2018 |
and 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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FYLDE CLASSICS LIMITED (REGISTERED NUMBER: 01088596) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2019 |
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3. | INVESTMENT PROPERTY - continued |
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The investment property has been recorded at fair value as determined by the directors at 31/03/2019. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Tax |
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Directors' current accounts | 50,099 | 21,755 |
Accruals and deferred income |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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7. | RESERVES |
Profit & |
Retained | loss - |
earnings | non-distributable | Totals |
£ | £ | £ |
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At 1 April 2018 |
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2,177,164 |
Profit for the year |
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Dividends | ( |
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Deferred tax on fair value |
gain | (3,179 | ) | 3,179 | - |
At 31 March 2019 |
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2,198,540 |
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8. | RELATED PARTY DISCLOSURES |
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At the balance sheet date M D Smithson had a directors loan account within the company and included within |
creditors is £50,099, (2018: £21,755) |
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9. | CONTROLLING PARTY |
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At the balance sheet date the company was controlled by the director Mr M D Smithson who together with his |
family owned 100% of the ordinary issued share capital. As of 12 October 2019 J E Long is considered to be the |
controlling party as executor of the estate of the late Mr M D Smithson. |