Registered number
13099213
Fitrakis Enterprises Ltd
Filleted Accounts
30 November 2023
Fitrakis Enterprises Ltd
Registered number: 13099213
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 94,772 94,772
Current assets
Debtors 4 532 505
Cash at bank and in hand 500 28,833
1,032 29,338
Creditors: amounts falling due within one year 5 (39,817) (66,226)
Net current liabilities (38,785) (36,888)
Total assets less current liabilities 55,987 57,884
Creditors: amounts falling due after more than one year 6 (61,500) (61,500)
Net liabilities (5,513) (3,616)
Capital and reserves
Called up share capital 1 1
Profit and loss account (5,514) (3,617)
Shareholder's funds (5,513) (3,616)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Forster
Director
Approved by the board on 5 July 2024
Fitrakis Enterprises Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 December 2022 94,772
At 30 November 2023 94,772
At 30 November 2022 the valuation of the investment property was reviewed by Mr A Forster the director of the company. Following the review he is satisfied that the current valuation represents the fair value of the investment property.
4 Debtors 2023 2022
£ £
Other debtors 532 505
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's loan account 39,211 65,650
Other creditors 606 576
39,817 66,226
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 61,500 61,500
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 61,500 61,500
Secured bank loans 61,500 61,500
The bank loan is secured on the investment property owned by the company.
8 Controlling party
The company's controlling party is Mr A Forster by virtue of his shareholding in the company.
9 Other information
Fitrakis Enterprises Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Bury Lodge
Bury Road
Stowmarket
Suffolk
IP14 1JA
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