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Registered number: 04919314









FAIRGATE PROPERTY TRADING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FAIRGATE PROPERTY TRADING LIMITED
REGISTERED NUMBER: 04919314

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 3 
11,111,072
11,111,072

  
11,111,072
11,111,072

Creditors: amounts falling due within one year
 4 
(9,180,702)
(9,180,702)

Net current assets
  
 
 
1,930,370
 
 
1,930,370

Total assets less current liabilities
  
1,930,370
1,930,370

  

Net assets
  
1,930,370
1,930,370


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
1,830,370
1,830,370

  
1,930,370
1,930,370


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


S C Stevenson
Director
Date: 24 September 2024

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
FAIRGATE PROPERTY TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Fairgate Property Trading Limited is a private company limited by shares and registered in England and Wales. The registered office address is 22-24 Ely Place, London, EC1N 6TE. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Pounds Sterling, rounded to the nearest £1.

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
11,111,072
11,111,072

11,111,072
11,111,072


Page 2

 
FAIRGATE PROPERTY TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
9,180,702
9,180,702

9,180,702
9,180,702



5.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.


6.


Controlling party

The immediate parent undertaking is Fairgate Group Limited, a company incorporated in England. The ultimate parent company is the Lurego Trust, a trust registered in Guernsey. In the opinion of the directors, the ultimate controlling party is the Lurego Trust. No consolidated financial statements are prepared for the trust. 
The largest and smallest group in which the results of the company are included are the consolidated financial statements of Fairgate Group Limited. These are available to the public and may be obtained from Companies House. 

Page 3