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Company Registration No. 05296655 (England and Wales)
Faron Grant Associates Ltd Unaudited accounts for the year ended 31 March 2023
Faron Grant Associates Ltd Unaudited accounts Contents
Page
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Faron Grant Associates Ltd Company Information for the year ended 31 March 2023
Director
Chris Grant
Company Number
05296655 (England and Wales)
Registered Office
43 EAST STREET BROMLEY BR1 1QQ ENGLAND
Accountants
McTernan Associates Ltd Bedford Heights Brickhill Drive Bedford Bedfordshire MK41 7PH
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Faron Grant Associates Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,225,000 
2,225,000 
Current assets
Debtors
114 
- 
Cash at bank and in hand
- 
771 
114 
771 
Creditors: amounts falling due within one year
(78,492)
(86,321)
Net current liabilities
(78,378)
(85,550)
Total assets less current liabilities
2,146,622 
2,139,450 
Creditors: amounts falling due after more than one year
(1,404,553)
(1,396,897)
Provisions for liabilities
Deferred tax
(102,853)
(102,853)
Net assets
639,216 
639,700 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
626,137 
626,137 
Profit and loss account
12,979 
13,463 
Shareholders' funds
639,216 
639,700 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 23 December 2023 and were signed on its behalf by
Chris Grant Director Company Registration No. 05296655
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Faron Grant Associates Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Faron Grant Associates Ltd is a private company, limited by shares, registered in England and Wales, registration number 05296655. The registered office is 43 EAST STREET, BROMLEY, BR1 1QQ, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
None
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 April 2022
2,225,000 
At 31 March 2023
2,225,000 
Depreciation
At 31 March 2023
- 
Net book value
At 31 March 2023
2,225,000 
At 31 March 2022
2,225,000 
The properties were valued as of 31 March 2020 at £2,225,000 by the directors taking into account the condition of the properties and length of leases remaining. This is no change to the previous revaluation as of 31 March 2019.
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Faron Grant Associates Ltd Notes to the Accounts for the year ended 31 March 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
114 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,318 
- 
Taxes and social security
3,680 
183 
Loans from directors
71,494 
86,138 
78,492 
86,321 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,404,553 
1,396,897 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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