1 January 2023 v2024.42.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwaretruetruetrueNo description of principal activityfalsexbrli:purexbrli:sharesiso4217:GBP051793202023-01-012023-12-31051793202023-12-31051793202022-12-3105179320core:WithinOneYear2023-12-3105179320core:WithinOneYear2022-12-3105179320core:ShareCapital2023-12-3105179320core:ShareCapital2022-12-3105179320core:RevaluationReserve2023-12-3105179320core:RevaluationReserve2022-12-3105179320core:RetainedEarningsAccumulatedLosses2023-12-3105179320core:RetainedEarningsAccumulatedLosses2022-12-3105179320bus:Director12023-01-012023-12-3105179320bus:RegisteredOffice2023-01-012023-12-3105179320core:FurnitureFittings2023-01-012023-12-3105179320core:LandBuildings2023-12-3105179320core:PlantMachinery2023-12-3105179320core:LandBuildings2022-12-3105179320countries:EnglandWales2023-01-012023-12-3105179320bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3105179320bus:PrivateLimitedCompanyLtd2023-01-012023-12-3105179320bus:SmallEntities2023-01-012023-12-3105179320bus:FullAccounts2023-01-012023-12-31
Company registration number:
05179320
Facility and Property Resource Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Facility and Property Resource Limited
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 5
500,000
 
500,000
 
Current assets    
Debtors 6
99
 
99
 
Creditors: amounts falling due within one year 7
(515,277
)
(515,277
)
Net current liabilities
(515,178
)
(515,178
)
Total assets less current liabilities (15,178 ) (15,178 )
Capital and reserves    
Called up share capital
99
 
99
 
Revaluation reserve
10,533
 
10,533
 
Profit and loss account
(25,810
)
(25,810
)
Shareholders deficit
(15,178
)
(15,178
)
The company did not trade during the current year or comparative year and has not made either a profit or a loss.
For the year ending
31 December 2023
, the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
These
financial statements
were approved by the board of directors and authorised for issue on
19 September 2024
, and are signed on behalf of the board by:
Mr Stephen Rebbettes
Director
Company registration number:
05179320
Facility and Property Resource Limited
Notes to the Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Kingsbrook House
,
Kingsclere Park
,
Newbury
,
Berkshire
,
RG20 4SW
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The Company has prepared it's accounts on a going concern basis as the shareholders have confirmed they will continue to support the entity for a period of twelve months from the date the financial statements are signed.

Judgements and key sources of estimation uncertainty

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 the revision and future periods where the revision affects both current and future periods.
Investment Property
The directors have made key assumptions in the determination of the fair value of the investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Income Statement

The company is dormant as defined in section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or comparative year and therefore no income statement is presented within these financial statements.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2022: Nil).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2023
and
31 December 2023
500,000
 
9,120
 
509,120
 
Depreciation      
At
1 January 2023
and
31 December 2023
-  
9,120
 
9,120
 
Carrying amount      
At
31 December 2023
500,000
  -  
500,000
 
At 31 December 2022
500,000
  -  
500,000
 

Investment property

The fair value of the investment property has been arrived at on the basis of the best estimation of the directors given their knowledge of the property and the area in which it is situated.

6 Debtors

20232022
££
Other debtors
99
 
99
 

7 Creditors: amounts falling due within one year

20232022
££
Other creditors
515,277
 
515,277