IRIS Accounts Production v24.1.0.578 13215489 Board of Directors 1.1.23 31.12.23 31.12.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh132154892022-12-31132154892023-12-31132154892023-01-012023-12-31132154892021-12-31132154892022-01-012022-12-31132154892022-12-3113215489ns15:EnglandWales2023-01-012023-12-3113215489ns14:PoundSterling2023-01-012023-12-3113215489ns10:Director12023-01-012023-12-3113215489ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3113215489ns10:SmallEntities2023-01-012023-12-3113215489ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3113215489ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3113215489ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113215489ns10:FullAccounts2023-01-012023-12-3113215489ns10:Director22023-01-012023-12-3113215489ns10:RegisteredOffice2023-01-012023-12-3113215489ns5:CurrentFinancialInstruments2023-12-3113215489ns5:CurrentFinancialInstruments2022-12-3113215489ns5:ShareCapital2023-12-3113215489ns5:ShareCapital2022-12-3113215489ns5:RetainedEarningsAccumulatedLosses2023-12-3113215489ns5:RetainedEarningsAccumulatedLosses2022-12-3113215489ns5:PlantMachinery2023-01-012023-12-3113215489ns5:LandBuildings2022-12-3113215489ns5:PlantMachinery2022-12-3113215489ns5:LandBuildings2023-01-012023-12-3113215489ns5:LandBuildings2023-12-3113215489ns5:PlantMachinery2023-12-3113215489ns5:LandBuildings2022-12-3113215489ns5:PlantMachinery2022-12-3113215489ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3113215489ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 13215489 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Fangs Properties Limited

Fangs Properties Limited (Registered number: 13215489)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fangs Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs X Fang
Mr S G Hare





REGISTERED OFFICE: The Grainger Suite Dobson House
Regent Centre
Newcastle Upon Tyne
United Kingdom
NE3 3PF





REGISTERED NUMBER: 13215489 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Fangs Properties Limited (Registered number: 13215489)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,912,925 3,660,348
4,912,925 3,660,348

CURRENT ASSETS
Debtors 6 500 21,020
Cash at bank and in hand 811,175 650,301
811,675 671,321
CREDITORS
Amounts falling due within one year 7 5,510,642 4,229,306
NET CURRENT LIABILITIES (4,698,967 ) (3,557,985 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,958

102,363

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 213,858 102,263
213,958 102,363

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:





Mrs X Fang - Director


Fangs Properties Limited (Registered number: 13215489)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Fangs Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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 tax 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

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

Fangs Properties Limited (Registered number: 13215489)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 3,582,386 79,781 3,662,167
Additions 1,247,443 7,050 1,254,493
At 31 December 2023 4,829,829 86,831 4,916,660
DEPRECIATION
At 1 January 2023 - 1,819 1,819
Charge for year - 1,916 1,916
At 31 December 2023 - 3,735 3,735
NET BOOK VALUE
At 31 December 2023 4,829,829 83,096 4,912,925
At 31 December 2022 3,582,386 77,962 3,660,348

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 500 21,020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,270,469 1,305,675
Amounts owed to group undertakings 4,190,000 2,890,000
Taxation and social security 37,553 20,811
Other creditors 12,620 12,820
5,510,642 4,229,306

8. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Harefang Limited, a company incorporated in England and Wales, and owner of the entire issued share capital of the company.