Registered number
11140436
Fast Property Investment and Trading Limited
Filleted Accounts
31 December 2023
Fast Property Investment and Trading Limited
Registered number: 11140436
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Stocks 1,530,263 1,234,197
Debtors 3 63,750 71,635
Cash at bank and in hand 63,101 13,446
1,657,114 1,319,278
Creditors: amounts falling due within one year 4 (85,195) (105,015)
Net current assets 1,571,919 1,214,263
Total assets less current liabilities 1,571,919 1,214,263
Creditors: amounts falling due after more than one year 5 (1,426,066) (1,094,564)
Net assets 145,853 119,699
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 144,853 118,699
Shareholder's funds 145,853 119,699
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 R Simpson
Director
Approved by the board on 16.09.24
Fast Property Investment and Trading Limited
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 represents the net value of property transactions and renovations etc, incurred in connection therewith.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Other debtors 63,750 71,635
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,469 2,567
Taxation and social security costs 19,963 23,528
Other creditors 60,763 78,920
85,195 105,015
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,426,066 1,094,564
6 Other information
Fast Property Investment and Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
Britannia House
16 Hall Quay
Great Yarmouth
NR30 1HP
Fast Property Investment and Trading Limited 11140436 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Mr R Simpson No description of principal activity 11140436 2022-01-01 2022-12-31 11140436 core:WithinOneYear 2022-12-31 11140436 core:AfterOneYear 2022-12-31 11140436 core:ShareCapital 2022-12-31 11140436 core:RetainedEarningsAccumulatedLosses 2022-12-31 11140436 2023-01-01 2023-12-31 11140436 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11140436 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11140436 bus:Director40 2023-01-01 2023-12-31 11140436 1 2023-01-01 2023-12-31 11140436 2 2023-01-01 2023-12-31 11140436 countries:England 2023-01-01 2023-12-31 11140436 bus:FRS102 2023-01-01 2023-12-31 11140436 bus:FilletedAccounts 2023-01-01 2023-12-31 11140436 2023-12-31 11140436 core:WithinOneYear 2023-12-31 11140436 core:AfterOneYear 2023-12-31 11140436 core:ShareCapital 2023-12-31 11140436 core:RetainedEarningsAccumulatedLosses 2023-12-31 11140436 2022-12-31 iso4217:GBP xbrli:pure