Registered number
10684887
FN Property Investments Ltd
Filleted Accounts
31 March 2022
FN Property Investments Ltd
Registered number: 10684887
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Investments 2 700,694 700,694
Current assets
Debtors 3 22,235 22,235
Cash at bank and in hand 6,726 7,092
28,961 29,327
Creditors: amounts falling due within one year 4 (27,094) (26,932)
Net current assets 1,867 2,395
Total assets less current liabilities 702,561 703,089
Creditors: amounts falling due after more than one year 5 (474,951) (474,951)
Provisions for liabilities (53,246) (53,246)
Net assets 174,364 174,892
Capital and reserves
Called up share capital 100 100
Profit and loss account 174,264 174,792
Shareholders' funds 174,364 174,892
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Elaine Frost
Director
Approved by the board on 9 September 2022
FN Property Investments Ltd
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings
Plant and machinery
Fixtures, fittings, tools and equipment
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Investments
Other
investments
£
Cost
At 1 April 2021 700,694
At 31 March 2022 700,694
Historical cost
At 1 April 2021 395,177
At 31 March 2022 395,177
3 Debtors 2022 2021
£ £
Other debtors 22,235 22,235
4 Creditors: amounts falling due within one year 2022 2021
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 9,346
Other creditors 27,094 17,586
27,094 26,932
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 474,951 458,928
6 Loans 2022 2021
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 474,951 474,951
Secured bank loans 474,951 474,951
Bank loans are secured by way of a 1st legal charge over certain investment property.
7 Other information
FN Property Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
F4 Temple Wood Business Park
Chelmsford
Essex
CM2 8LA
8 Employees 2022 2021
no no
The average number of employees employed during the year was 0 0
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