Registered number
07028949
FLOORWEALD LIMITED
Unaudited Filleted Accounts
30 September 2023
TEMPLETONS ( UK ) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
FLOORWEALD LIMITED
Registered number: 07028949
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Investments 4 307,715 307,715
Current assets
Cash at bank and in hand 1,296 1,895
Creditors: amounts falling due within one year 5 (47,947) (26,526)
Net current liabilities (46,651) (24,631)
Total assets less current liabilities 261,064 283,084
Creditors: amounts falling due after more than one year 6 (305,663) (305,663)
Net liabilities (44,599) (22,579)
Capital and reserves
Called up share capital 50 50
Revaluation reserve 7 4,277 4,277
Profit and loss account (48,926) (26,906)
Shareholders' funds (44,599) (22,579)
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 members have 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.
V Bermant
Director
Approved by the board on 14 August 2024
FLOORWEALD LIMITED
Notes to the Accounts
for the year ended 30 September 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. Turnover includes revenue earned from the rendering of services.
Investments
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revalution is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an investment property expected to be permanent, in which case it is recognised in the profit and loss account for the year.
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.
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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Going concern
Notwithstanding the net asset deficiency, the financial statements have been prepared on a
going concern basis, as in the opinion of the directors, the company has sufficient financial
support from its creditors and shareholders to pay its debts as they fall due.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Investments
Freehold
investment
property
£
Valuation
At 1 October 2022 307,715
At 30 September 2023 307,715
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 47,947 26,526
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other loans 305,663 305,663
7 Revaluation reserve 2023 2022
£ £
At 1 October 2022 4,277 4,277
At 30 September 2023 4,277 4,277
This related to the gain arising on the revaluation of the company's investment properties as at
30 September 2023, based on a valuation conducted by the director of the company based on open market values. The director is not aware of any material change in value since the date of valuation.

8 Other information
FLOORWEALD LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
London
E17 9BG
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