Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-300false2021-11-15falseThe letting of owned or leased real estate.0trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13743637 2021-11-14 13743637 2021-11-15 2022-11-30 13743637 2021-01-01 2021-11-14 13743637 2022-11-30 13743637 c:Director1 2021-11-15 2022-11-30 13743637 d:FreeholdInvestmentProperty 2021-11-15 2022-11-30 13743637 d:FreeholdInvestmentProperty 2022-11-30 13743637 d:CurrentFinancialInstruments 2022-11-30 13743637 d:Non-currentFinancialInstruments 2022-11-30 13743637 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 13743637 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 13743637 d:ShareCapital 2022-11-30 13743637 d:RetainedEarningsAccumulatedLosses 2022-11-30 13743637 c:OrdinaryShareClass1 2021-11-15 2022-11-30 13743637 c:OrdinaryShareClass1 2022-11-30 13743637 c:FRS102 2021-11-15 2022-11-30 13743637 c:AuditExempt-NoAccountantsReport 2021-11-15 2022-11-30 13743637 c:FullAccounts 2021-11-15 2022-11-30 13743637 c:PrivateLimitedCompanyLtd 2021-11-15 2022-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13743637









FM PROPERTY LETS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2022

 
FM PROPERTY LETS LIMITED
REGISTERED NUMBER: 13743637

BALANCE SHEET
AS AT 30 NOVEMBER 2022

2022
Note
£

FIXED ASSETS
  

Investment property
 4 
597,324

  
597,324

CURRENT ASSETS
  

Cash at bank and in hand
  
3,797

  
3,797

Creditors: amounts falling due within one year
 5 
(182,119)

NET CURRENT LIABILITIES
  
 
 
(178,322)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
419,002

Creditors: amounts falling due after more than one year
 6 
(420,062)

  

NET LIABILITIES
  
(1,060)


CAPITAL AND RESERVES
  

Called up share capital 
 7 
1

Profit and loss account
  
(1,061)

  
(1,060)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
FM PROPERTY LETS LIMITED
REGISTERED NUMBER: 13743637
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2022

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




F Mortlock
Director

Date: 15 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FM PROPERTY LETS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2022

1.


GENERAL INFORMATION

FM Property Lets Limited is a private company limited by shares and incorporated in England and
Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Company had net liabilities of £1,060 as at 30 November 2022. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from its director to provide sufficient funds to enable it to meet its liabilities as they fall due.

 
2.3

TURNOVER

Turnover comprises rental revenue recognised by the Company exclusive of Value Added Tax.

 
2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
FM PROPERTY LETS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax liabilities on investment properties carried at fair value are recognised first against
revaluation gains in the fixed asset revaluation reserve. Where the liability exceeds the revaluation
gain the remainder is recognised in the profit and loss account.

 
2.7

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration.



Page 4

 
FM PROPERTY LETS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2022

4.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


Additions at cost
597,324



AT 30 NOVEMBER 2022
597,324

The 2022 valuations were made by the director, on an open market value for existing use basis, based on professional advice received.





5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
£

Other creditors
176,005

Accruals and deferred income
6,114

182,119


Included within other creditors is an amount owed to the director of £176,005. This loan bears no interest and is repayable on demand.


6.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022
£

Mortgage
420,062


The bank loan from Precise Mortgages is secured by a fixed charge over the Company's freehold investment property. The loan facility is provided on an interest only basis at 3.49% per annum and is to be repaid in full on 30 June 2057 unless renegotiated.

Page 5

 
FM PROPERTY LETS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2022

7.


SHARE CAPITAL

2022
£
ALLOTTED, CALLED UP AND FULLY PAID


1 Ordinary share of £1.00
1


On incorporation, 1 Ordinary £1 share was issued at par.

 
Page 6