Registered number
11279802
Fishbowl Properties Ltd.
Unaudited Filleted Accounts
31 March 2023
Fishbowl Properties Ltd.
Registered number: 11279802
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 350 -
Investment Properties 4 847,248 847,248
847,598 847,248
Current assets
Debtors 5 4,123 4,274
Cash at bank and in hand 19,196 7,074
23,319 11,348
Creditors: amounts falling due within one year 6 (5,514) (4,338)
Net current assets 17,805 7,010
Total assets less current liabilities 865,403 854,258
Creditors: amounts falling due after more than one year 7 (325,643) (332,691)
Net assets 539,760 521,567
Capital and reserves
Called up share capital 1,000 1,000
Share premium 516,010 516,010
Profit and loss account 22,750 4,557
Shareholders' funds 539,760 521,567
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.
C Davison
Director
Approved by the board on 31 October 2023
Fishbowl Properties Ltd.
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 consideration received or receivable, net of discounts and value added taxes. Turnover comprises income receivable from property letting and other recoverable costs associated with the properties.
Investment properties
Investment properties are recorded at original cost and the fair value is reviewed annually by the directors based on current market values and rent yield. No depreciation is provided.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office and computer equipment over 3 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office & computer equipment
£
Cost
Additions 525
At 31 March 2023 525
Depreciation
Charge for the year 175
At 31 March 2023 175
Net book value
At 31 March 2023 350
4 Investment properties
Investment
properties
£
Cost
At 1 April 2022 847,248
At 31 March 2023 847,248
5 Debtors 2023 2022
£ £
Other debtors 4,123 4,274
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,185 1,069
Other creditors 1,329 3,269
5,514 4,338
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 320,643 320,643
Other creditors 5,000 12,048
325,643 332,691
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 320,643 320,643
The loans are secured by a charge over three of the properties owned by the company.
9 Controlling party
The company is controlled by E Davison who holds 61.8% of the issued shares.
10 Other information
Fishbowl Properties Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
The Rainhall Centre
Rainhall Road
Barnoldswick
Lancashire
BB18 5DR
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