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REGISTERED NUMBER: 14272955 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Fusion Group Properties Ltd

Fusion Group Properties Ltd (Registered number: 14272955)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fusion Group Properties Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Miss T S Atkinson
Miss C L Atkinson





REGISTERED OFFICE: 21 Alma Square
Scarborough
North Yorkshire
YO11 1JR





REGISTERED NUMBER: 14272955 (England and Wales)





ACCOUNTANTS: Edward Milnes & Co
Woodend
The Crescent
Scarborough
North Yorkshire
YO11 2PW

Fusion Group Properties Ltd (Registered number: 14272955)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 390,000 317,151

CURRENT ASSETS
Debtors 5 3,601 3,074
Cash at bank 7,481 -
11,082 3,074
CREDITORS
Amounts falling due within one year 6 4,264 6,325
NET CURRENT ASSETS/(LIABILITIES) 6,818 (3,251 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

396,818

313,900

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 396,718 313,800
396,818 313,900

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

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

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 19 August 2024 and were signed on its behalf by:



Miss T S Atkinson - Director



Miss C L Atkinson - Director


Fusion Group Properties Ltd (Registered number: 14272955)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Fusion Group Properties Ltd 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

Fusion Group Properties Ltd (Registered number: 14272955)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 317,151
Revaluations 72,849
At 31 July 2024 390,000
NET BOOK VALUE
At 31 July 2024 390,000
At 31 July 2023 317,151

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 72,849
Cost 317,151
390,000

If investment property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 317,151 317,151

Investment property was valued on an open market basis on 31 July 2024 by Tanya Atkinson .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 3,601 3,074

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors - 1,424
Amounts owed to associates 504 3,717
Taxation and social security 3,065 891
Other creditors 695 293
4,264 6,325

Fusion Group Properties Ltd (Registered number: 14272955)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 July 2024 and the period ended 31 July 2023:

31.7.24 31.7.23
£    £   
Miss T S Atkinson
Balance outstanding at start of year 1,560 -
Amounts advanced 3,740 1,560
Amounts repaid (1,800 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,500 1,560

Miss C L Atkinson
Balance outstanding at start of year 40 -
Amounts advanced 1,160 40
Amounts repaid (1,200 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 40

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £3,000 were paid to the directors .

The company has leased business premises to Fusion Resources Ltd on normal commercial terms. The rental charge included within the profit and loss account is £16,800 (2023 - £4,200).

The company operates a loan account with Fusion Resources Ltd, which included a release in respect of the aforementioned property purchase costs. The balance owed by Fusion Group Properties Ltd at the year end was £250 (2023 - £3,717), which is included within creditors due within one year on the balance sheet. The movements during the year were as follows:

£

Balance at 1 August 2023 3,717

Advances 987

Repayments (4,200 )
Balance at 31 July 2023 504

9. CONTROLLING PARTY

The controlling party is Miss T S Atkinson.