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REGISTERED NUMBER: 11881721 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 March 2024

for


Future Let Properties Limited


Future Let Properties Limited (Registered number: 11881721)







Contents of the Financial Statements

for the Year Ended 31 March 2024





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4



Report of the Accountants  

8



Future Let Properties Limited


Company Information

for the Year Ended 31 March 2024









DIRECTORS:

D Bees


Mrs A Bees


D Seip







REGISTERED OFFICE:

26 Bell Street


Sawbridgeworth


CM21 9AN







REGISTERED NUMBER:

11881721 (England and Wales)







ACCOUNTANTS:

Lawrence & Company


Chartered Certified Accountants


26 Bell Street


Sawbridgeworth


Hertfordshire


CM21 9AN


Future Let Properties Limited (Registered number: 11881721)


Balance Sheet

31 March 2024



31.3.24

31.3.23



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

6,815,920


6,495,125




CURRENT ASSETS

Debtors

5

131


-



Cash at bank

166,159


50,961



166,290


50,961



CREDITORS

Amounts falling due within one year

6

73,927


41,200



NET CURRENT ASSETS

92,363


9,761



TOTAL ASSETS LESS CURRENT

LIABILITIES

6,908,283


6,504,886




CREDITORS

Amounts falling due after more than one

year

7

3,662,231


3,385,044



NET ASSETS

3,246,052


3,119,842




CAPITAL AND RESERVES

Called up share capital

9

600


600



Share premium

10

2,368,204


2,368,204



Retained earnings

10

877,248


751,038



SHAREHOLDERS' FUNDS

3,246,052


3,119,842




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.


Future Let Properties Limited (Registered number: 11881721)


Balance Sheet - continued

31 March 2024



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 Income Statement has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2024 and were signed on its behalf by:





D Bees - Director

D Seip - Director





Mrs A Bees - Director



Future Let Properties Limited (Registered number: 11881721)


Notes to the Financial Statements

for the Year Ended 31 March 2024


1.

STATUTORY INFORMATION



Future Let 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.


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, excluding discounts, rebates, value added tax and other sales taxes.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Fixtures and fittings

-

25% on cost


Computer equipment

-

25% on cost



Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 5 (2023 - 4 ) .


Future Let Properties Limited (Registered number: 11881721)


Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


4.

TANGIBLE FIXED ASSETS


Fixtures



Freehold


and


Computer



property


fittings


equipment


Totals

£   

£   

£   

£   



COST OR VALUATION


At 1 April 2023

6,491,377


3,365


4,437


6,499,179




Additions

419,169


-


-


419,169




Disposals

(176,422

)

-


-


(176,422

)



Revaluations

80,000


-


-


80,000




At 31 March 2024

6,814,124


3,365


4,437


6,821,926




DEPRECIATION


At 1 April 2023

-


2,523


1,531


4,054




Charge for year

-


842


1,110


1,952




At 31 March 2024

-


3,365


2,641


6,006




NET BOOK VALUE


At 31 March 2024

6,814,124


-


1,796


6,815,920




At 31 March 2023

6,491,377


842


2,906


6,495,125





Cost or valuation at 31 March 2024 is represented by:



Fixtures



Freehold


and


Computer



property


fittings


equipment


Totals

£   

£   

£   

£   



Valuation in 2022

590,000


-


-


590,000




Valuation in 2023

96,500


-


-


96,500




Valuation in 2024

80,000


-


-


80,000




Cost

6,047,624


3,365


4,437


6,055,426



6,814,124


3,365


4,437


6,821,926




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Other debtors

131


-




6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Bank loans and overdrafts (see note 8)

25,746


25,746




Trade creditors

1,125


1,492




Taxation

45,376


11,821




Social security and other taxes

-


461




Accrued expenses

1,680


1,680



73,927


41,200




Future Let Properties Limited (Registered number: 11881721)


Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.3.24


31.3.23

£   

£   



Bank loans (see note 8)

3,662,231


3,385,044





Amounts falling due in more than five years:



Repayable by instalments


Bank loans more 5 yr by instal

3,559,247


3,282,060




8.

LOANS



An analysis of the maturity of loans is given below:



31.3.24


31.3.23

£   

£   



Amounts falling due within one year or on demand:


Bank loans

25,746


25,746





Amounts falling due between one and two years:


Bank loans - 1-2 years

25,746


25,746





Amounts falling due between two and five years:


Bank loans - 2-5 years

77,238


77,238





Amounts falling due in more than five years:



Repayable by instalments


Bank loans more 5 yr by instal

3,559,247


3,282,060




9.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.3.24


31.3.23


value:

£   

£   



600

Ordinary

£1

600


600




10.

RESERVES


Retained


Share



earnings


premium


Totals

£   

£   

£   




At 1 April 2023

751,038


2,368,204


3,119,242




Profit for the year

118,210


118,210




Dividends

(72,000

)

(72,000

)



Revaluation of freehold assets

80,000


-


80,000




At 31 March 2024

877,248


2,368,204


3,245,452




Future Let Properties Limited (Registered number: 11881721)


Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


11.

RELATED PARTY DISCLOSURES



During the year, total dividends of £72,000 (2023 - £33,600) were paid to the directors .


The directors control the company by virtue of a direct controlling interest of 100% of the issued ordinary share capital.


Future Let Properties Limited


Report of the Accountants to the Directors of

Future Let Properties Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to nine and you consider that the company is exempt from an audit.  


In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.  







Lawrence & Company

Chartered Certified Accountants

26 Bell Street

Sawbridgeworth

Hertfordshire

CM21 9AN



6 June 2024