Registered number
10660961
FAWM Property Limited
Unaudited Filleted Accounts
31 March 2023
FAWM Property Limited
Registered number: 10660961
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 166,000 170,119
Current assets
Debtors 4 25,240 1,904
Cash at bank and in hand 11,257 27,296
36,497 29,200
Creditors: amounts falling due within one year 5 (187,588) (189,588)
Net current liabilities (151,091) (160,388)
Total assets less current liabilities 14,909 9,731
Provisions for liabilities (1,270) (4,522)
Net assets 13,639 5,209
Capital and reserves
Called up share capital 120 120
Profit and loss account 13,519 5,089
Shareholders' funds 13,639 5,209
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.
A. Minchin
Director
Approved by the board on 17 October 2023
FAWM Property Limited
Notes to the Accounts
for the year ended 31 March 2023
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 rental income received or receivable.
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:
Freehold buildings over 8 years
Investments
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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. 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 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 April 2022 170,119
Revaluation (4,119)
At 31 March 2023 166,000
Historical cost
At 1 April 2022 159,319
At 31 March 2023 159,319
Property investments were revalued by the directors based on local selling prices.
4 Debtors 2023 2022
£ £
Other debtors 25,240 1,904
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 187,588 189,588
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
W. Minchin
Overdrawn director's account, interest free and repayable on demand - 25,000 - 25,000
- 25,000 - 25,000
7 Controlling party
The intermediate shareholder is WMPC Limited, the ultimate owners are the directors.
8 Other information
FAWM Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
Barn Ridge
Coopers Hill Road
South Nutfield
RH1 5PD
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