REGISTERED NUMBER: |
Fleet Street Property Ltd |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
REGISTERED NUMBER: |
Fleet Street Property Ltd |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
Fleet Street Property Ltd (Registered number: 12913457) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Fleet Street Property Ltd |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Delta 606 |
Welton Road |
Delta Office Park |
Swindon |
Wiltshire |
SN5 7XF |
Fleet Street Property Ltd (Registered number: 12913457) |
Balance Sheet |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Fleet Street Property Ltd (Registered number: 12913457) |
Balance Sheet - continued |
30 September 2023 |
The financial statements were approved by the director and authorised for issue on |
Fleet Street Property Ltd (Registered number: 12913457) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Fleet Street Property Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Fleet Street Property Ltd (Registered number: 12913457) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
Additions |
Disposals | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2022 |
Additions |
Impairments | (264,321 | ) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Fair value at 30 September 2023 is represented by: |
£ |
Valuation in 2022 | 367,055 |
Valuation in 2023 | (252,575 | ) |
Cost | 405,520 |
520,000 |
If investment property had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 405,519 | 384,668 |
Investment property was valued on an open market basis on 30 September 2023 by the director based on similar sales . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Fleet Street Property Ltd (Registered number: 12913457) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 October 2022 |
Deficit for the year | ( |
) |
At 30 September 2023 |
Included within retained earnings is £83,215 (2022: £297,315) which is undistributable. This amount represents the difference between the fair value at the reporting date and the cost at initial recognition of the investment property, after taking into account any relevant deferred tax liability. |
10. | RELATED PARTY DISCLOSURES |
An interest free loan has been made to another company of which Mr A Thomas is a director. At 30th September 2023 the loan value was £24,338.38 (2022: £0). This loan is not expected to be repaid. |
An interest free loan has been made from another company of which Mr A Thomas is a director. At 30th September the loan value was £60,131.50 (2022: £60,131.50). |
11. | POST BALANCE SHEET EVENTS |
As at 30th September 2023, the company was owed a loan of £24,338 by a company under common control and this is reflected in the company's balance sheet as at 30th September 2023. |
However, in the year ended 30th September 2024, an event occurred that led to this loan being reviewed and written off as unrecoverable. |