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REGISTERED NUMBER: 10908238 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

FDG PROPERTIES LIMITED

FDG PROPERTIES LIMITED (REGISTERED NUMBER: 10908238)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FDG PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31st August 2023







DIRECTORS: D Cavanagh
F Cavanagh





SECRETARY: F Cavanagh





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 10908238 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

FDG PROPERTIES LIMITED (REGISTERED NUMBER: 10908238)

BALANCE SHEET
31st August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,559 5,427
Investment property 5 642,998 673,288
647,557 678,715

CURRENT ASSETS
Debtors 6 - 245
Cash at bank 23,334 13,247
23,334 13,492
CREDITORS
Amounts falling due within one year 7 (182,842 ) (173,887 )
NET CURRENT LIABILITIES (159,508 ) (160,395 )
TOTAL ASSETS LESS CURRENT LIABILITIES 488,049 518,320

CREDITORS
Amounts falling due after more than one year 8 (402,886 ) (396,782 )

PROVISIONS FOR LIABILITIES 10 (22,309 ) (29,881 )
NET ASSETS 62,854 91,657

FDG PROPERTIES LIMITED (REGISTERED NUMBER: 10908238)

BALANCE SHEET - continued
31st August 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 62,852 91,655
SHAREHOLDERS' FUNDS 62,854 91,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 9th February 2024 and were signed on its behalf by:





D Cavanagh - Director


FDG PROPERTIES LIMITED (REGISTERED NUMBER: 10908238)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023


1. STATUTORY INFORMATION

FDA Properties Limited is a private company limited by share capital, incorporated in England and Wales, registration number 10908238. The address of the registered office is KJG, 100 Barbirolli Square, Manchester, M2 3BD. The principal place of business is 12 Eton Grove, London, SE13 5BY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is presented net of value-added-tax, rebates and discounts.

Rental income from operating leases (net of any incentives given to the lessee), is recognised on a straight line basis over the term of the lease.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Leasehold improvements - 10% Straight line method
Fixtures & fittings - 33.33% and 20% Straight line method
Computer equipment - 33.33% and 20% Straight line method

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measure at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period which they arise.


FDG PROPERTIES LIMITED (REGISTERED NUMBER: 10908238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

FDG PROPERTIES LIMITED (REGISTERED NUMBER: 10908238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st September 2022 6,240 266 4,998 11,504
Additions - - 1,679 1,679
At 31st August 2023 6,240 266 6,677 13,183
DEPRECIATION
At 1st September 2022 2,496 128 3,453 6,077
Charge for year 624 53 1,870 2,547
At 31st August 2023 3,120 181 5,323 8,624
NET BOOK VALUE
At 31st August 2023 3,120 85 1,354 4,559
At 31st August 2022 3,744 138 1,545 5,427

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2022 673,288
Revaluations (30,290 )
At 31st August 2023 642,998
NET BOOK VALUE
At 31st August 2023 642,998
At 31st August 2022 673,288

Fair value at 31st August 2023 is represented by:
£   
Valuation in 2020 16,458
Valuation in 2021 49,606
Valuation in 2022 53,461
Valuation in 2023 (30,290 )
Cost 553,763
642,998

FDG PROPERTIES LIMITED (REGISTERED NUMBER: 10908238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments - 245

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts 181,390 172,699
Accrued expenses 1,452 1,188
182,842 173,887

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 402,886 396,782

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 402,886 396,782

Bank borrowings are secured by a fixed and floating charge over the relevant assets.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 22,309 29,881

Deferred
tax
£   
Balance at 1st September 2022 29,881
Provided during year (7,572 )
Balance at 31st August 2023 22,309

FDG PROPERTIES LIMITED (REGISTERED NUMBER: 10908238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary A share £1 1 1
1 Ordinary B share £1 1 1
2 2

12. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £181,390 (2022:£172,699). This balance relates to an interest free loan account that is repayable on demand.