Company registration number 14570392 (England and Wales)
FLAMBOURNE PROPERTY MANAGEMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
FLAMBOURNE PROPERTY MANAGEMENT LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
Notes to the financial statements
2 - 4
FLAMBOURNE PROPERTY MANAGEMENT LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
31 January 2024
Notes
£
£
Fixed assets
Tangible assets
3
312,594
Current assets
Cash at bank and in hand
1,693
Creditors: amounts falling due within one year
4
(102,140)
Net current liabilities
(100,447)
Total assets less current liabilities
212,147
Creditors: amounts falling due after more than one year
5
(212,721)
Net liabilities
(574)
Capital and reserves
Called up share capital
6
1
Profit and loss reserves
(575)
Total equity
(574)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 1 October 2024
Mr Michael Lennard
Director
Company registration number 14570392 (England and Wales)
FLAMBOURNE PROPERTY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information
Flambourne Property Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, UK, CF23 8HA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 January 2024 are the first financial statements of Flambourne Property Management Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
1.2
Going concern
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No Depreciation
FLAMBOURNE PROPERTY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
Number
Number
Total
1
3
Tangible fixed assets
Land and buildings
£
Cost
At 4 January 2023
Additions
312,594
At 31 January 2024
312,594
Depreciation and impairment
At 4 January 2023 and 31 January 2024
Carrying amount
At 31 January 2024
312,594
At
4
Creditors: amounts falling due within one year
2024
£
£
Bank loans
11,881
Other creditors
89,269
Accruals and deferred income
990
102,140
5
Creditors: amounts falling due after more than one year
2024
Notes
£
£
Bank loans and overdrafts
212,721
6
Called up share capital
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
1 of £1 each
1
-
1
-
FLAMBOURNE PROPERTY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
6
Called up share capital
(Continued)
- 4 -
7
Related Party Transactions
As at the balance sheet date, the director owed the company £1.
The director and shareholder of the company is also director and shareholder of Cheverells Property Management Ltd. At the yearend, the company owed Cheverells Property Management Ltd £89,270.
8
Ultimate Controlling Party
The company's ultimate controlling party is by virtue Mr Michael Lennard of his ownership of 100% of the issued share capital in the company.