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REGISTERED NUMBER: 02281776 (England and Wales)















F. & L. Group Limited

Unaudited Financial Statements For The Year Ended 31 December 2023






F. & L. Group Limited (Registered number: 02281776)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


F. & L. Group Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: Mrs C A Brady
Mr F R Langley
Ms H E Langley
Mrs H U Langley
Mr J F Langley
Miss K V Roberts Langley





REGISTERED OFFICE: Building 15, Gateway 1000
Arlington Business Park
Stevenage
Hertfordshire
SG1 2FP





REGISTERED NUMBER: 02281776 (England and Wales)

F. & L. Group Limited (Registered number: 02281776)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 89,368 109,110
Investment property 5 5,338,180 4,598,446
5,427,548 4,707,556

CURRENT ASSETS
Inventories 6,581 514,851
Debtors 6 59,335 548,923
Cash at bank and in hand 603,941 145,384
669,857 1,209,158
CREDITORS
Amounts falling due within one year 7 (158,618 ) (769,308 )
NET CURRENT ASSETS 511,239 439,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,938,787

5,147,406

CREDITORS
Amounts falling due after more than one
year

8

(658,947

)

(25,000

)

PROVISIONS FOR LIABILITIES (196,701 ) (149,493 )
NET ASSETS 5,083,139 4,972,913

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 9 1,095,399 1,142,607
Retained earnings 3,977,740 3,820,306
SHAREHOLDERS' FUNDS 5,083,139 4,972,913

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 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.

F. & L. Group Limited (Registered number: 02281776)

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 Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





Mr F R Langley - Director


F. & L. Group Limited (Registered number: 02281776)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

F. & L. Group Limited 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.

Turnover
Turnover is in respect of rental income on properties held for investment purposes and sales proceeds on properties held for development purposes.

Rental income is recognised on a receivables basis and income on development property sales is recognised on the exchange of contracts for sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company of the fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

F. & L. Group Limited (Registered number: 02281776)

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 125,000 9,222 30,387 24,649 189,258
Additions - 3,736 - - 3,736
Disposals - - (30,387 ) - (30,387 )
At 31 December 2023 125,000 12,958 - 24,649 162,607
DEPRECIATION
At 1 January 2023 50,000 6,921 15,193 8,034 80,148
Charge for year - 2,122 7,597 6,162 15,881
Eliminated on disposal - - (22,790 ) - (22,790 )
At 31 December 2023 50,000 9,043 - 14,196 73,239
NET BOOK VALUE
At 31 December 2023 75,000 3,915 - 10,453 89,368
At 31 December 2022 75,000 2,301 15,194 16,615 109,110

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 4,598,446
Additions 739,734
At 31 December 2023 5,338,180
NET BOOK VALUE
At 31 December 2023 5,338,180
At 31 December 2022 4,598,446

Investment properties are included at directors' valuation. The directors consider the value of the properties to be £5,338,180 at 31 December 2023 on the basis of the market value. The current value of the above property under the historical cost basis would be £4,195,573
The director has an in-depth and extensive knowledge of the local property market, and as a result is suitably qualified to offer a valuation of all investment properties held at the year-end.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,998 7,846
Other debtors 42,337 541,077
59,335 548,923

F. & L. Group Limited (Registered number: 02281776)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,127 24,134
Taxation and social security 84,969 33,365
Other creditors 59,522 701,809
158,618 769,308

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,000 25,000
Other creditors 643,947 -
658,947 25,000

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023 1,142,607
Revaluation reserve (47,208 )

At 31 December 2023 1,095,399

10. RELATED PARTY DISCLOSURES

During the year the company owed to one of its director's, at the year end the balance outstanding was £643,946 (2022 - £619,858).