Company Registration No. 03026997 (England and Wales)
FEWHURST INVESTMENTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
FEWHURST INVESTMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
FEWHURST INVESTMENTS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FEWHURST INVESTMENTS LIMITED FOR THE YEAR ENDED 31 MARCH 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Fewhurst Investments Limited for the year ended 31 March 2016, set out on pages 3 to 8 from the accounting records and information and explanations you have given to us.
This report is made solely to the Board of Directors of as a body, in accordance with the terms of our engagement letter.
It is your duty to ensure that Fewhurst Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fewhurst Investments Limited. You consider that Fewhurst Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Fewhurst Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Gerald Edelman
10 November 2016
Chartered Accountants
73 Cornhill
London
EC3V 3QQ
FEWHURST INVESTMENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,425
2,105,531
Current assets
Stocks
2,350
2,350
Debtors
8,031
15,012
Cash at bank and in hand
140
1,683
10,521
19,045
Creditors: amounts falling due within one year
(2,500)
(88,163)
Net current assets/(liabilities)
8,021
(69,118)
Total assets less current liabilities
12,446
2,036,413
Creditors: amounts falling due after more than one year
-
(1,652,036)
12,446
384,377
Capital and reserves
Called up share capital
3
2
2
Revaluation reserve
-
537,882
Profit and loss account
12,444
(153,507)
Shareholders' funds
12,446
384,377
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 10 November 2016
A J H Salter
Director
Company Registration No. 03026997
FEWHURST INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for rental income on an accruals basis.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
20% reducing balance
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
FEWHURST INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
2,124,248
Disposals
(2,100,000)
At 31 March 2016
24,248
Depreciation
At 1 April 2015
18,717
Charge for the year
1,106
At 31 March 2016
19,823
Net book value
At 31 March 2016
4,425
At 31 March 2015
2,105,531
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary of £1 each
2
2
4
Ultimate parent company
The ultimate controlling party is the parent company Godetia Properties Limited.
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