2022-08-012023-07-312023-07-31false10263858FSF PROPERTY 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FSF PROPERTY LIMITED

Registered Number
10263858
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

FSF PROPERTY LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

NASEEM, Ruby
NASEEM, Shahzad, Dr

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

10263858 (England and Wales)
FSF PROPERTY LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets313,42811,702
Investment property42,158,9102,158,910
2,172,3382,170,612
Current assets
Debtors110,118228,285
Cash at bank and on hand5,51916,865
115,637245,150
Creditors amounts falling due within one year6(23,920)(71,600)
Net current assets (liabilities)91,717173,550
Total assets less current liabilities2,264,0552,344,162
Creditors amounts falling due after one year7(2,301,325)(2,289,190)
Net assets(37,270)54,972
Capital and reserves
Called up share capital181,100181,100
Profit and loss account(218,370)(126,128)
Shareholders' funds(37,270)54,972
The financial statements were approved and authorised for issue by the Board of Directors on 5 March 2024, and are signed on its behalf by:
NASEEM, Shahzad, Dr
Director
Registered Company No. 10263858
FSF PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
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.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings20
Office Equipment20
Investment property
Investment property, which is property held to earn rentals and/or capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 August 2214,2922,62316,915
Additions3,0011,4654,466
At 31 July 2317,2934,08821,381
Depreciation and impairment
At 01 August 223,6111,6025,213
Charge for year2,4632772,740
At 31 July 236,0741,8797,953
Net book value
At 31 July 2311,2192,20913,428
At 31 July 2210,6811,02111,702
4.Investment property

£
Fair value at 01 August 222,158,910
At 31 July 232,158,910
5.Debtors: amounts due within one year

2023

2022

££
Other debtors109,832228,032
Prepayments and accrued income286253
Total110,118228,285
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-9,658
Bank borrowings and overdrafts2,48054,972
Taxation and social security1,321-
Other creditors13,8312,711
Accrued liabilities and deferred income6,2884,259
Total23,92071,600
Short term creditors are measured at transaction price (which is usually the invoice 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.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts2,301,3252,289,190
Total2,301,3252,289,190
8.Directors advances, credits and guarantees
The credit balance of £7,974 (2022:£1,715) relates to directors.