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REGISTERED NUMBER: 06347375 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Fifty Fifty Properties Limited

Fifty Fifty Properties Limited (Registered number: 06347375)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Fifty Fifty Properties Limited (Registered number: 06347375)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 9 9
Investment property 5 1,350,000 1,350,000
1,350,009 1,350,009

CURRENT ASSETS
Debtors 6 21,194 48,783
Cash at bank 148,642 321,277
169,836 370,060
CREDITORS
Amounts falling due within one year 7 35,926 28,396
NET CURRENT ASSETS 133,910 341,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,483,919

1,691,673

CREDITORS
Amounts falling due after more than one year 8 (1,268,766 ) (1,463,641 )

PROVISIONS FOR LIABILITIES (23,836 ) (23,836 )
NET ASSETS 191,317 204,196

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 125,450 125,450
Retained earnings 65,767 78,646
SHAREHOLDERS' FUNDS 191,317 204,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Fifty Fifty Properties Limited (Registered number: 06347375)

Statement of Financial Position - continued
31 December 2023


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 director and authorised for issue on 20 August 2024 and were signed by:





M Winter - Director


Fifty Fifty Properties Limited (Registered number: 06347375)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Fifty Fifty Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06347375

Registered office: 83 Blackwood Road
Streetly
Sutton Coldfield
West Midlands
B74 3PW

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Investment property
The historical cost of the investment property is £1,224,550. The investment property has been revalued to a fair value by Yorkshire Building Society Commercial Mortgages for £1,350,000. This has created a loss in the accounts of £179,600. This has reduced the non distributable reserve brought forward, which was originally created to hold increase in value of the investment property deemed by the director.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Fifty Fifty Properties Limited (Registered number: 06347375)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 9
NET BOOK VALUE
At 31 December 2023 9
At 31 December 2022 9

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,350,000
NET BOOK VALUE
At 31 December 2023 1,350,000
At 31 December 2022 1,350,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 1,350,000

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

31.12.23 31.12.22
£    £   
Cost 1,224,550 1,224,550

Investment property was valued on an open market basis on 30 September 2021 by Yorkshire Building Society Commercial .

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 20,546 15,913
Other debtors 648 2,013
21,194 17,926

Amounts falling due after more than one year:
Amounts owed by associates - 30,857

Aggregate amounts 21,194 48,783

Fifty Fifty Properties Limited (Registered number: 06347375)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 12,113 12,083
Other creditors 23,813 16,313
35,926 28,396

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 755,997 750,872
Amounts owed to group undertakings 512,769 712,769
1,268,766 1,463,641

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 715,890 707,505

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 125,450