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Company Registration No. 01120769 (England and Wales)
Furnished Letting Services Limited Unaudited accounts for the year ended 30 June 2023
Furnished Letting Services Limited Unaudited accounts Contents
Page
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Furnished Letting Services Limited Company Information for the year ended 30 June 2023
Directors
J A Farrell M T Farrell
Secretary
M T Farrell
Company Number
01120769 (England and Wales)
Registered Office
85 Great Portland Street London W1W 7LT
Accountants
Bo&Co Ltd The Long Barn Cobham Park Road, Downside Cobham Surrey KT11 3NE
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Furnished Letting Services Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
965 
1,287 
Investment property
720,000 
725,000 
720,965 
726,287 
Current assets
Inventories
5,000 
5,000 
Debtors
325,129 
324,752 
Cash at bank and in hand
211,678 
222,161 
541,807 
551,913 
Creditors: amounts falling due within one year
(16,588)
(33,032)
Net current assets
525,219 
518,881 
Total assets less current liabilities
1,246,184 
1,245,168 
Provisions for liabilities
Deferred tax
(118,695)
(119,645)
Net assets
1,127,489 
1,125,523 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,127,389 
1,125,423 
Shareholders' funds
1,127,489 
1,125,523 
For the year ending 30 June 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 March 2024 and were signed on its behalf by
J A Farrell Director Company Registration No. 01120769
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Furnished Letting Services Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Furnished Letting Services Limited is a private company, limited by shares, registered in England and Wales, registration number 01120769. The registered office is 85 Great Portland Street, London, W1W 7LT.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises gross rents received and the proceeds of property dealing in the year.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell, after making allowance for slow moving and obsolete and slow moving items.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date. Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.
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Furnished Letting Services Limited Notes to the Accounts for the year ended 30 June 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 July 2022
17,337 
At 30 June 2023
17,337 
Depreciation
At 1 July 2022
16,050 
Charge for the year
322 
At 30 June 2023
16,372 
Net book value
At 30 June 2023
965 
At 30 June 2022
1,287 
5
Investment property
2023 
£ 
Fair value at 1 July 2022
725,000 
Net loss from fair value adjustments
(5,000)
At 30 June 2023
720,000 
The valuation of all investment properties was carried out by J A Farrell, a director of the company, on 30 June 2023.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,571 
3,071 
Other debtors
321,558 
321,681 
325,129 
324,752 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
1,312 
24,091 
Other creditors
2,176 
4,801 
Accruals
13,100 
4,140 
16,588 
33,032 
8
Transactions with related parties
Other debtors include amounts of £321,681 (2022: £321,681) due from companies under common control. These amounts are interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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