Company Registration No. SC655753 (Scotland)
FHC PROPERTY LTD
Unaudited accounts
for the year ended 28 February 2023
FHC PROPERTY LTD
Unaudited accounts
Contents
FHC PROPERTY LTD
Company Information
for the year ended 28 February 2023
Directors
Mr Robert Cameron
Mrs Moira Ann Cameron
Mr Fraser Hugh Cameron
Company Number
SC655753 (Scotland)
Registered Office
FHC Property Limited
2 Kirk Brae
Lochaline
PA80 5XW
Scotland
Accountants
The Highland Bookkeeper
2 Achnaha View
Lochaline
Morvern
Argyll
PA80 5AB
FHC PROPERTY LTD
Statement of financial position
as at 28 February 2023
Tangible assets
3,293
7,223
Investment property
206,697
206,697
Cash at bank and in hand
5,897
2,850
Creditors: amounts falling due within one year
(213,069)
(214,308)
Net current liabilities
(207,172)
(211,458)
Total assets less current liabilities
2,818
2,462
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
2,092
872
Shareholders' funds
2,192
972
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by
Mr Fraser Hugh Cameron
Director
Company Registration No. SC655753
FHC PROPERTY LTD
Notes to the Accounts
for the year ended 28 February 2023
FHC PROPERTY LTD is a private company, limited by shares, registered in Scotland, registration number SC655753. The registered office is FHC Property Limited, 2 Kirk Brae, Lochaline, PA80 5XW, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
FHC PROPERTY LTD
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2022
9,880
1,880
11,760
At 28 February 2023
9,880
1,880
11,760
At 1 March 2022
3,293
1,244
4,537
Charge for the year
3,293
637
3,930
At 28 February 2023
6,586
1,881
8,467
At 28 February 2023
3,294
(1)
3,293
At 28 February 2022
6,587
636
7,223
Fair value at 1 March 2022
206,697
At 28 February 2023
206,697
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
95
-
Loans from directors
212,374
212,380
7
Transactions with related parties
Creditors include the following amounts which are owed to individuals who were directors of the company during the year:
Mrs Moira Ann Cameron £98,985
Mr Robert Cameron £98,985
Mr Fraser Hugh Cameron £17,633
Less £3,229 owed from a related company, Highland Basecamp Ltd, in which Mr Fraser Cameron is also a director.
The above loan is payable on demand.
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).