Registered number
13861778
Fidra Property Ltd
Filleted Accounts
31 December 2023
Fidra Property Ltd
Registered number: 13861778
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 398 598
Investments 4 667,044 460,657
667,442 461,255
Current assets
Debtors 5 558 90
Cash at bank and in hand 61,882 39,691
62,440 39,781
Creditors: amounts falling due within one year 6 (754,496) (514,116)
Net current liabilities (692,056) (474,335)
Net liabilities (24,614) (13,080)
Capital and reserves
Called up share capital 1 1
Profit and loss account (24,615) (13,081)
Shareholder's funds (24,614) (13,080)
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 member has 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.
Mr E Browne
Director
Approved by the board on 29 August 2024
Fidra Property Ltd
Notes to the Accounts
for the year ended 31 December 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 798
At 31 December 2023 798
Depreciation
At 1 January 2023 200
Charge for the year 200
At 31 December 2023 400
Net book value
At 31 December 2023 398
At 31 December 2022 598
4 Investments
Other
investments
£
Cost
At 1 January 2023 460,657
Additions 206,387
At 31 December 2023 667,044
At 31 December 2023 the valuation of the investment properties was reviewed by Mr E Browne the director of the company. Following the review he is satisfied that the current valuation represents the fair value of the investment properties.
5 Debtors 2023 2022
£ £
Other debtors 558 90
6 Creditors: amounts falling due within one year 2023 2022
£ £
Director's loan account 753,470 511,946
Other creditors 1,026 2,170
754,496 514,116
7 Controlling party
In the opinion of the director Mr E Browne is the company's controlling party by virtue of his shareholding in the company.
8 Other information
Fidra Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Bury Lodge
Bury Road
Stowmarket
Suffolk
IP14 1JA
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