Company Registration No. SC463390 (Scotland)
Fletcher Lettings Limited
Unaudited accounts
for the year ended 31 December 2023
Fletcher Lettings Limited
Unaudited accounts
Contents
Fletcher Lettings Limited
Company Information
for the year ended 31 December 2023
Directors
Ian Carmichael Douglas Fletcher
Lorna Helen Fletcher
Margery Anderson Fletcher
Company Number
SC463390 (Scotland)
Accountants
Kelly Tax Services Limited
New Alderston House
3 Dove Wynd, Strathclyde Business Park
Bellshill
North Lanarkshire
ML4 3FB
Fletcher Lettings Limited
Statement of financial position
as at 31 December 2023
Tangible assets
38,411
9,493
Investment property
1,275,000
1,375,000
Cash at bank and in hand
27,616
30,605
Creditors: amounts falling due within one year
(1,102,222)
(1,103,984)
Net current liabilities
(1,069,218)
(1,072,379)
Total assets less current liabilities
244,193
312,114
Provisions for liabilities
Net assets
244,193
295,685
Called up share capital
4
4
Revaluation reserve
161,675
242,675
Profit and loss account
82,514
53,006
Shareholders' funds
244,193
295,685
For the year ending 31 December 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 21 March 2024 and were signed on its behalf by
Lorna Helen Fletcher
Director
Company Registration No. SC463390
Fletcher Lettings Limited
Notes to the Accounts
for the year ended 31 December 2023
Fletcher Lettings Limited is a private company, limited by shares, registered in Scotland, registration number SC463390.
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.
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:
Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised as costs, which includes the purchase costs 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 through the profit or loss account.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Contributions to defined contribution plans are expensed in the period to which they relate.
Fletcher Lettings Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
At 31 December 2023
54,916
At 31 December 2023
16,505
At 31 December 2023
38,411
Fair value at 1 January 2023
1,375,000
Net loss from fair value adjustments
(100,000)
At 31 December 2023
1,275,000
Amounts falling due within one year
Deferred tax asset
2,571
-
Amounts falling due after more than one year
Accrued income and prepayments
1,606
-
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
73
Taxes and social security
163
-
Loans from directors
1,101,390
1,101,448
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).