2022-04-012023-03-312023-03-31false12128501FORMICITY PROPERTY LIMITED2023-10-1168209iso4217:GBPxbrli:pure121285012022-04-01121285012023-03-31121285012022-04-012023-03-31121285012021-04-01121285012022-03-31121285012021-04-012022-03-3112128501bus:SmallEntities2022-04-012023-03-3112128501bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3112128501bus:FullAccounts2022-04-012023-03-3112128501bus:PrivateLimitedCompanyLtd2022-04-012023-03-3112128501core:WithinOneYear2023-03-3112128501core:AfterOneYear2023-03-3112128501core:WithinOneYear2022-03-3112128501core:AfterOneYear2022-03-3112128501core:ShareCapital2023-03-3112128501core:SharePremium2023-03-3112128501core:RevaluationReserve2023-03-3112128501core:OtherReservesSubtotal2023-03-3112128501core:RetainedEarningsAccumulatedLosses2023-03-3112128501core:ShareCapital2022-03-3112128501core:SharePremium2022-03-3112128501core:RevaluationReserve2022-03-3112128501core:OtherReservesSubtotal2022-03-3112128501core:RetainedEarningsAccumulatedLosses2022-03-3112128501core:LandBuildings2023-03-3112128501core:PlantMachinery2023-03-3112128501core:Vehicles2023-03-3112128501core:FurnitureFittings2023-03-3112128501core:OfficeEquipment2023-03-3112128501core:NetGoodwill2023-03-3112128501core:IntangibleAssetsOtherThanGoodwill2023-03-3112128501core:ListedExchangeTraded2023-03-3112128501core:UnlistedNon-exchangeTraded2023-03-3112128501core:LandBuildings2022-03-3112128501core:PlantMachinery2022-03-3112128501core:Vehicles2022-03-3112128501core:FurnitureFittings2022-03-3112128501core:OfficeEquipment2022-03-3112128501core:NetGoodwill2022-03-3112128501core:IntangibleAssetsOtherThanGoodwill2022-03-3112128501core:ListedExchangeTraded2022-03-3112128501core:UnlistedNon-exchangeTraded2022-03-3112128501core:LandBuildings2022-04-012023-03-3112128501core:PlantMachinery2022-04-012023-03-3112128501core:Vehicles2022-04-012023-03-3112128501core:FurnitureFittings2022-04-012023-03-3112128501core:OfficeEquipment2022-04-012023-03-3112128501core:NetGoodwill2022-04-012023-03-3112128501core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3112128501core:ListedExchangeTraded2022-04-012023-03-3112128501core:UnlistedNon-exchangeTraded2022-04-012023-03-3112128501core:MoreThanFiveYears2022-04-012023-03-3112128501core:Non-currentFinancialInstruments2023-03-3112128501core:Non-currentFinancialInstruments2022-03-3112128501dpl:CostSales2022-04-012023-03-3112128501dpl:DistributionCosts2022-04-012023-03-3112128501core:LandBuildings2022-04-012023-03-3112128501core:PlantMachinery2022-04-012023-03-3112128501core:Vehicles2022-04-012023-03-3112128501core:FurnitureFittings2022-04-012023-03-3112128501core:OfficeEquipment2022-04-012023-03-3112128501dpl:AdministrativeExpenses2022-04-012023-03-3112128501core:NetGoodwill2022-04-012023-03-3112128501core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3112128501dpl:GroupUndertakings2022-04-012023-03-3112128501dpl:ParticipatingInterests2022-04-012023-03-3112128501dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3112128501core:ListedExchangeTraded2022-04-012023-03-3112128501dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3112128501core:UnlistedNon-exchangeTraded2022-04-012023-03-3112128501dpl:CostSales2021-04-012022-03-3112128501dpl:DistributionCosts2021-04-012022-03-3112128501core:LandBuildings2021-04-012022-03-3112128501core:PlantMachinery2021-04-012022-03-3112128501core:Vehicles2021-04-012022-03-3112128501core:FurnitureFittings2021-04-012022-03-3112128501core:OfficeEquipment2021-04-012022-03-3112128501dpl:AdministrativeExpenses2021-04-012022-03-3112128501core:NetGoodwill2021-04-012022-03-3112128501core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3112128501dpl:GroupUndertakings2021-04-012022-03-3112128501dpl:ParticipatingInterests2021-04-012022-03-3112128501dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3112128501core:ListedExchangeTraded2021-04-012022-03-3112128501dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3112128501core:UnlistedNon-exchangeTraded2021-04-012022-03-3112128501core:NetGoodwill2023-03-3112128501core:IntangibleAssetsOtherThanGoodwill2023-03-3112128501core:LandBuildings2023-03-3112128501core:PlantMachinery2023-03-3112128501core:Vehicles2023-03-3112128501core:FurnitureFittings2023-03-3112128501core:OfficeEquipment2023-03-3112128501core:AfterOneYear2023-03-3112128501core:WithinOneYear2023-03-3112128501core:ListedExchangeTraded2023-03-3112128501core:UnlistedNon-exchangeTraded2023-03-3112128501core:ShareCapital2023-03-3112128501core:SharePremium2023-03-3112128501core:RevaluationReserve2023-03-3112128501core:OtherReservesSubtotal2023-03-3112128501core:RetainedEarningsAccumulatedLosses2023-03-3112128501core:NetGoodwill2022-03-3112128501core:IntangibleAssetsOtherThanGoodwill2022-03-3112128501core:LandBuildings2022-03-3112128501core:PlantMachinery2022-03-3112128501core:Vehicles2022-03-3112128501core:FurnitureFittings2022-03-3112128501core:OfficeEquipment2022-03-3112128501core:AfterOneYear2022-03-3112128501core:WithinOneYear2022-03-3112128501core:Liste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FORMICITY PROPERTY LIMITED

Registered Number
12128501
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

FORMICITY PROPERTY LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

BARTLETT, E V
BARTLETT, S L

Registered Address

32 Collywell Bay Road
Seaton Sluice
Whitley Bay
NE26 4QZ

Registered Number

12128501 (England and Wales)
FORMICITY PROPERTY LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets5347867
Tangible assets6228,531329,073
Investments711
Investment property8388,125388,125
617,004718,066
Current assets
Debtors1012,85018,099
Cash at bank and on hand7873,497
13,63721,596
Creditors amounts falling due within one year11(953,121)(890,462)
Net current assets (liabilities)(939,484)(868,866)
Total assets less current liabilities(322,480)(150,800)
Creditors amounts falling due after one year12(43,777)(49,243)
Provisions for liabilities13(19,077)(15,210)
Net assets(385,334)(215,253)
Capital and reserves
Called up share capital22
Profit and loss account(385,336)(215,255)
Shareholders' funds(385,334)(215,253)
The financial statements were approved and authorised for issue by the Board of Directors on 11 October 2023, and are signed on its behalf by:
BARTLETT, E V
Director
Registered Company No. 12128501
FORMICITY PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
These financial statements were prepared in accordance with the provisions of FRS 102 Section 1A - small entities applicable in the UK and Republic of Ireland. There were no material departures from that standard.
3.Accounting policies
Property, plant and equipment policy
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Reducing balance (%)Straight line (years)
Plant and machinery-20
Fixtures and fittings-20
Vehicles25-
Office Equipment-33
Intangible assets policy
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Asset Class - Other intangible assets Amortisation method and rate - 3 years straight line
Revenue recognition policy
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 sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company activities.
Deferred tax policy
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
4.Employee information

20232022
Average number of employees during the year33
5.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 221,5601,560
At 31 March 231,5601,560
Amortisation and impairment
At 01 April 22693693
Charge for year520520
At 31 March 231,2131,213
Net book value
At 31 March 23347347
At 31 March 22867867
6.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2212,51313,999465,5574,414496,483
Additions--33-33
At 31 March 2312,51313,999465,5904,414496,516
Depreciation and impairment
At 01 April 223,4906,453155,0872,380167,410
Charge for year2,5031,88794,7701,415100,575
At 31 March 235,9938,340249,8573,795267,985
Net book value
At 31 March 236,5205,659215,733619228,531
At 31 March 229,0237,546310,4702,034329,073
7.Fixed asset investments
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Investments in groups1

Total

££
Cost or valuation
At 01 April 2211
At 31 March 2311
Net book value
At 31 March 2311
At 31 March 2211

Notes

1Investments in group undertakings and participating interests
8.Investment property

£
Fair value at 01 April 22388,125
At 31 March 23388,125
9.Description of nature of transactions and balances with related parties
At 31st March 2022 the following related party payable transactions remain outstanding: - Castaways Tea Shop Limited - £5,602.93 - Hotspurcraft Limited - £120,671.15
10.Debtors

2023

2022

££
Trade debtors / trade receivables6,6273,702
Prepayments and accrued income6,22314,397
Total12,85018,099
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables8,2541,520
Amounts owed to related parties244,409126,274
Taxation and social security-6,830
Other creditors700,458755,838
Total953,121890,462
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts43,77749,243
Total43,77749,243
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)19,07715,210
Total19,07715,210