Registered number
14877790
Joseph Ferraro Properties Limited
Unaudited Filleted Accounts
31 May 2024
Joseph Ferraro Properties Limited
Registered number: 14877790
Balance Sheet
as at 31 May 2024
Notes 2024
£
Fixed assets
Tangible assets 3 555,378
Current assets
Cash at bank and in hand 67
67
Creditors: amounts falling due within one year 4 (258,898)
Net current liabilities (258,831)
Total assets less current liabilities 296,547
Creditors: amounts falling due after more than one year 5 (371,437)
Net liabilities (74,890)
Capital and reserves
Called up share capital 1
Profit and loss account (74,891)
Shareholders' funds (74,890)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J Ferraro
Director
Approved by the board on 6 August 2024
Joseph Ferraro Properties Limited
Notes to the Accounts
for the period from 18 May 2023 to 31 May 2024
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 represents rental income received in the year.
Tangible fixed assets
The company owns one building which is used for both commrcial and residential purposes. The property is not being depreciated because the director believes that it's value is not reducing.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 18 May 2023 -
Additions 555,378
At 31 May 2024 555,378
Depreciation
At 18 May 2023 -
At 31 May 2024 -
Net book value
At 31 May 2024 555,378
At 17 May 2023 -
4 Creditors: amounts falling due within one year 2024
£
Bank loans and overdrafts 34,868
Directot loan account 223,539
Other creditors 491
258,898
5 Creditors: amounts falling due after one year 2024
£
Bank loans 371,437
6 Loans 2024
£
Creditors include:
Instalments falling due for payment after more than five years 197,097
197,097
7 Other information
Joseph Ferraro Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
45 St Johns Drive
Harrogate
HG1 3AG
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