Fega Property Ltd
Registered number: 14412827
Statement of Financial Position
as at 31 October 2023
Notes 2023
£
Fixed assets
Tangible assets 3 224,916
Current assets
Cash at bank and in hand 962
Creditors: amounts falling due within one year 4 (71,127)
Net current liabilities (70,165)
Total assets less current liabilities 154,751
Creditors: amounts falling due after more than one year 5 (157,423)
Net liabilities (2,672)
Capital and reserves
Called up share capital 1
Profit and loss account (2,673)
Shareholders' funds (2,672)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Featherstone
Director
Approved by the board on 9 February 2024
Fega Property Ltd
Notes to the Accounts
for the period from 11 October 2022 to 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees and directors 2023
Number
Average number of directors and persons employed by the company 2
3 Tangible fixed assets
Cost
At 31 October 2023
Depreciation
At 31 October 2023
Net book value
At 31 October 2023
Freehold land and buildings: 2023
£
Historical cost 224,916
224,916
4 Creditors: amounts falling due within one year 2023
£
Accruals 1,468
Other creditors 69,659
71,127
5 Creditors: amounts falling due after one year 2023
£
Bank loans 157,423
6 Loans 2023
£
Creditors include:
Secured bank loans 157,423
The loan from Paragon Bank PLC contains a negative pledge, registered with Companies House under the charge code 1441 2827 0001
7 Other information
Fega Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
38 Laxton Close
Olveston
Bristol
BS35 4EB
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