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Registered number: 13280714
Fruitful Property Investments Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 13280714
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,752 9,945
Investment Properties 5 303,905 303,905
312,657 313,850
CURRENT ASSETS
Debtors 6 1,384 3,441
Cash at bank and in hand 7,509 1,430
8,893 4,871
Creditors: Amounts Falling Due Within One Year 7 (343,774 ) (345,616 )
NET CURRENT ASSETS (LIABILITIES) (334,881 ) (340,745 )
TOTAL ASSETS LESS CURRENT LIABILITIES (22,224 ) (26,895 )
NET LIABILITIES (22,224 ) (26,895 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (22,226 ) (26,897 )
SHAREHOLDERS' FUNDS (22,224) (26,895)
Page 1
Page 2
For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs L E Figg
Director
24/06/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 2 (15,127 ) (15,125)
Loss for the year and total comprehensive income - (11,770 ) (11,770)
As at 31 March 2023 and 1 April 2023 2 (26,897 ) (26,895)
Profit for the year and total comprehensive income - 4,671 4,671
As at 31 March 2024 2 (22,226 ) (22,224)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Fruitful Property Investments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13280714 . The registered office is 19-21 Manor Road, Caddington, Bedfordshire, LU1 4EE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company made a profit after tax for the year ending 31 March 2024 of £4,671 resulting in a balance sheet deficit of £22,226 at the balance sheet date. However of this deficit £105,823 is owed to the director of the company who has given assurances that he will continue his financial support such that the company will be able to meet its liabilities as they fall due.
In light of the above and after taking into account all information that could reasonably be expected to be available, the directors are confident that the company will continue in operational existence for the foreseeable future, and that the going concern basis is appropriate for the preparation of the company's financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 4
Page 5
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 10,425 - 10,425
Additions 678 448 1,126
As at 31 March 2024 11,103 448 11,551
Depreciation
As at 1 April 2023 480 - 480
Provided during the period 2,170 149 2,319
As at 31 March 2024 2,650 149 2,799
Net Book Value
As at 31 March 2024 8,453 299 8,752
As at 1 April 2023 9,945 - 9,945
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 303,905
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 315
Other debtors 1,384 3,126
1,384 3,441
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 560
Bank loans and overdrafts 224,934 226,195
Other creditors 118,752 118,861
Taxation and social security 88 -
343,774 345,616
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5