Silverfin false 31/03/2023 01/04/2022 31/03/2023 G L Willingham 09/04/2021 13 November 2023 The principal activity of the Company during the financial period was that of an investment property company. 13324457 2023-03-31 13324457 bus:Director1 2023-03-31 13324457 2022-03-31 13324457 core:CurrentFinancialInstruments 2023-03-31 13324457 core:CurrentFinancialInstruments 2022-03-31 13324457 core:Non-currentFinancialInstruments 2023-03-31 13324457 core:Non-currentFinancialInstruments 2022-03-31 13324457 core:ShareCapital 2023-03-31 13324457 core:ShareCapital 2022-03-31 13324457 core:RetainedEarningsAccumulatedLosses 2023-03-31 13324457 core:RetainedEarningsAccumulatedLosses 2022-03-31 13324457 core:MoreThanFiveYears 2023-03-31 13324457 core:MoreThanFiveYears 2022-03-31 13324457 2022-04-01 2023-03-31 13324457 bus:FullAccounts 2022-04-01 2023-03-31 13324457 bus:SmallEntities 2022-04-01 2023-03-31 13324457 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13324457 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13324457 bus:Director1 2022-04-01 2023-03-31 13324457 2021-04-09 2022-03-31 13324457 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 13324457 (England and Wales)

FCUP PROPERTIES LTD

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

FCUP PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

FCUP PROPERTIES LTD

BALANCE SHEET

As at 31 March 2023
FCUP PROPERTIES LTD

BALANCE SHEET (continued)

As at 31 March 2023
Note 31.03.2023 31.03.2022
£ £
Fixed assets
Investment property 3 347,571 347,571
347,571 347,571
Current assets
Debtors 4 10 10
Cash at bank and in hand 2,088 14,057
2,098 14,067
Creditors: amounts falling due within one year 5 ( 189,230) ( 207,135)
Net current liabilities (187,132) (193,068)
Total assets less current liabilities 160,439 154,503
Creditors: amounts falling due after more than one year 6 ( 148,996) ( 157,510)
Net assets/(liabilities) 11,443 ( 3,007)
Capital and reserves
Called-up share capital 10 10
Profit and loss account 11,433 ( 3,017 )
Total shareholder's funds/(deficit) 11,443 ( 3,007)

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of FCUP Properties Ltd (registered number: 13324457) were approved and authorised for issue by the Director on 13 November 2023. They were signed on its behalf by:

G L Willingham
Director
FCUP PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
FCUP PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

FCUP Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts. The company recognises revenue when the value of services provided to date can be reliably measured.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X.

2. Employees

Year ended
31.03.2023
Period from
09.04.2021 to
31.03.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 347,571
As at 31 March 2023 347,571

4. Debtors

31.03.2023 31.03.2022
£ £
Amounts owed by Group undertakings 10 10

5. Creditors: amounts falling due within one year

31.03.2023 31.03.2022
£ £
Bank loans 8,514 8,514
Amounts owed to Group undertakings 177,534 198,621
Taxation and social security 2,682 0
Other creditors 500 0
189,230 207,135

6. Creditors: amounts falling due after more than one year

31.03.2023 31.03.2022
£ £
Bank loans 148,996 157,510

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

31.03.2023 31.03.2022
£ £
Bank loans 114,940 123,454

7. Ultimate controlling party

Parent Company:

FCUP Holdings Ltd
Towngate House, 2-8 Parkstone road, Poole, Dorset, BH15 2PW