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REGISTERED NUMBER: 13459764 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FORMATION PROPERTY LIMITED

FORMATION PROPERTY LIMITED (REGISTERED NUMBER: 13459764)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORMATION PROPERTY LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: A C Barber
A C Jolliffe





REGISTERED OFFICE: Unit 1
Evercreech Way
Highbridge
TA9 4AR





REGISTERED NUMBER: 13459764 (England and Wales)





ACCOUNTANTS: Dafferns LLP
Chartered Accountants
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

FORMATION PROPERTY LIMITED (REGISTERED NUMBER: 13459764)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 1,000,000 695,000

CURRENT ASSETS
Debtors 6 20,000 -
Cash at bank and in hand 18,161 189,567
38,161 189,567
CREDITORS
Amounts falling due within one year 7 36,125 60,917
NET CURRENT ASSETS 2,036 128,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,002,036

823,650

PROVISIONS FOR LIABILITIES 81,625 4,085
NET ASSETS 920,411 819,565

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 920,311 819,465
SHAREHOLDERS' FUNDS 920,411 819,565

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.

FORMATION PROPERTY LIMITED (REGISTERED NUMBER: 13459764)

BALANCE SHEET - 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 23 September 2024 and were signed on its behalf by:




A C Barber - Director



A C Jolliffe - Director


FORMATION PROPERTY LIMITED (REGISTERED NUMBER: 13459764)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Formation Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - NIL ) .

FORMATION PROPERTY LIMITED (REGISTERED NUMBER: 13459764)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 695,000
Revaluations 305,000
At 31 December 2023 1,000,000
NET BOOK VALUE
At 31 December 2023 1,000,000
At 31 December 2022 695,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out
during March 2024 by Aitchison Raffety ( who are not connected with the
company ).
The historical cost of the investment property held is £673,500 (2022: £673,500).

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2024 1,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 2,326 35,666
Social security and other taxes 10,283 -
Other creditors 21,416 23,501
Accruals and deferred income 2,100 1,750
36,125 60,917

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary 10p 100 100