COMPANY REGISTRATION NUMBER:
14606992
FG & S Properties Limited |
|
Filleted Unaudited Financial Statements |
|
FG & S Properties Limited |
|
Statement of Financial Position |
|
31 January 2024
Fixed assets
Tangible assets |
4 |
131,364 |
|
|
|
Current assets
Debtors |
5 |
183 |
Cash at bank and in hand |
8,196 |
|
------- |
|
8,379 |
|
|
|
Creditors: amounts falling due within one year |
6 |
5,696 |
|
------- |
Net current assets |
2,683 |
|
--------- |
Total assets less current liabilities |
134,047 |
|
|
|
Creditors: amounts falling due after more than one year |
7 |
140,462 |
|
--------- |
Net liabilities |
(
6,415) |
|
--------- |
|
|
|
Capital and reserves
Share premium account |
100 |
Profit and loss account |
(
6,515) |
|
------- |
Shareholders deficit |
(
6,415) |
|
------- |
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
FG & S Properties Limited |
|
Statement of Financial Position (continued) |
|
31 January 2024
These financial statements were approved by the
board of directors
and authorised for issue on
23 April 2024
, and are signed on behalf of the board by:
Mr A Stanley |
Mr R Freeman-Gray |
Director |
Director |
|
|
Company registration number:
14606992
FG & S Properties Limited |
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Notes to the Financial Statements |
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Period from 20 January 2023 to 31 January 2024
1.
General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Unit 5 Minton Place, Victoria Road, Bicester, OX26 6QB, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4.
Tangible assets
|
Freehold property |
|
£ |
Cost |
|
At 20 January 2023 |
– |
Additions |
131,364 |
|
--------- |
At 31 January 2024 |
131,364 |
|
--------- |
Depreciation |
|
At 20 January 2023 and 31 January 2024 |
– |
|
--------- |
Carrying amount |
|
At 31 January 2024 |
131,364 |
|
--------- |
|
|
Included within the above is investment property as follows:
|
£ |
At 20 January 2023 |
– |
Additions |
131,114 |
|
--------- |
At 31 January 2024 |
131,114 |
|
--------- |
|
|
The effective date of the valuation was 31 January 2024 and the fair value basis was adopted based on an independent valuation.
5.
Debtors
|
31 Jan 24 |
|
£ |
Other debtors |
183 |
|
---- |
|
|
6.
Creditors:
amounts falling due within one year
|
31 Jan 24 |
|
£ |
Other creditors |
5,696 |
|
------- |
|
|
7.
Creditors:
amounts falling due after more than one year
|
31 Jan 24 |
|
£ |
Other creditors |
140,462 |
|
--------- |
|
|
8.
Related party transactions
Included within other creditor is a balance of £
49,715
owed to the directors. No interest is charged on the loan and there is no fixed date of repayment.