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Company Registration No. 07950187 (England and Wales)
Fajast Development 1 Limited Unaudited accounts for the year ended 31 December 2023
Fajast Development 1 Limited Unaudited accounts Contents
Page
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Fajast Development 1 Limited Company Information for the year ended 31 December 2023
Directors
Graham Lucking Deirdre Lucking
Company Number
07950187 (England and Wales)
Registered Office
Unit 1a Griffin Industrial Estate Penncricket Lane Rowley Regis West Midlands B65 0SN
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Fajast Development 1 Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
946,057 
946,057 
Investment property
157,645 
157,645 
1,103,702 
1,103,702 
Current assets
Cash at bank and in hand
23,115 
72,373 
Creditors: amounts falling due within one year
(3,943)
(2,901)
Net current assets
19,172 
69,472 
Total assets less current liabilities
1,122,874 
1,173,174 
Creditors: amounts falling due after more than one year
(1,110,282)
(1,172,900)
Net assets
12,592 
274 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
12,591 
273 
Shareholders' funds
12,592 
274 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by
Graham Lucking Director Company Registration No. 07950187
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Fajast Development 1 Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Fajast Development 1 Limited is a private company, limited by shares, registered in England and Wales, registration number 07950187. The registered office is Unit 1a Griffin Industrial Estate, Penncricket Lane, Rowley Regis, West Midlands, B65 0SN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 January 2023
946,057 
At 31 December 2023
946,057 
Depreciation
At 31 December 2023
- 
Net book value
At 31 December 2023
946,057 
At 31 December 2022
946,057 
Land and buildings comprises: Land value overage on Garden House Hotel £350,000 Gulval House £292,355 Chyan House £303,702
5
Investment property
2023 
£ 
Fair value at 1 January 2023
157,645 
At 31 December 2023
157,645 
Investment property is valued at cost.
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Fajast Development 1 Limited Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,043 
2,901 
Accruals
900 
- 
3,943 
2,901 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
4,440 
7,284 
Other creditors
970,856 
970,056 
Loans from directors
134,986 
195,560 
1,110,282 
1,172,900 
Creditors comprises: Bank Loan £4,440 (2022 £7,284) Director's Loan Account £134,986 (2022 £195,560) Associated Company Loan Account (Arlingford Limited) £970,856 (2022 £970,066)
8
Transactions with related parties
During the year a net amount of £60,574 was repaid to Mrs D Lucking, a director of the company, giving a balance on her long-term interest free loan to the company of £134,986 (2022 £195,560). During the year £800 was received as agent for the Associated company, Arlingford Limited, giving a year-end balance of £970,856 (2022 £970,056) The entire amounts advanced are included within Creditors - amounts falling due after more than one year.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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