Company Registration No. 10195455 (England and Wales)
Floyd Property Investments Limited
Unaudited accounts
for the year ended 30 April 2023
Floyd Property Investments Limited
Unaudited accounts
Contents
Floyd Property Investments Limited
Company Information
for the year ended 30 April 2023
Directors
Jason Floyd
Natasha Floyd
Company Number
10195455 (England and Wales)
Registered Office
Unit 2, Siberia Mill
Holgate Street
Burnley
BB10 2HQ
Accountants
Stewart Advisory Limited
Cotton Court
Church Street
Preston
PR1 3BY
Floyd Property Investments Limited
Statement of financial position
as at 30 April 2023
Investment property
380,000
350,000
Cash at bank and in hand
3,814
2,299
Creditors: amounts falling due within one year
(20,785)
(78,393)
Net current liabilities
(16,970)
(76,093)
Total assets less current liabilities
363,030
273,907
Creditors: amounts falling due after more than one year
(255,635)
(173,675)
Provisions for liabilities
Deferred tax
(19,385)
(18,644)
Called up share capital
1
1
Profit and loss account
88,009
81,587
Shareholders' funds
88,010
81,588
For the year ending 30 April 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 directors acknowledge their 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 of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by
Jason Floyd
Director
Company Registration No. 10195455
Floyd Property Investments Limited
Notes to the Accounts
for the year ended 30 April 2023
Floyd Property Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10195455. The registered office is Unit 2, Siberia Mill, Holgate Street, Burnley, BB10 2HQ.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Movements in fair value are debited/credited to the profit and loss account.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 May 2022
350,000
Net gain from fair value adjustments
3,900
The investment properties have been valued at fair market value in the opinion of the directors.
Floyd Property Investments Limited
Notes to the Accounts
for the year ended 30 April 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
895
493
Other creditors
18,750
77,000
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
255,635
173,675
Aggregate of amounts that fall due for payment after five years
255,635
173,675
The loans are secured on the investment properties.
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).