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REGISTERED NUMBER: 08400581 (England and Wales)


















FOLBIGG PROPERTY MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






FOLBIGG PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08400581)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOLBIGG PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S R Hunt
S M Hunt





REGISTERED OFFICE: Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 08400581 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

FOLBIGG PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08400581)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 138,452 119,851
Investment property 5 420,000 420,000
558,452 539,851

CURRENT ASSETS
Debtors 6 4,925 4,217
Cash at bank 306,647 285,307
311,572 289,524
CREDITORS
Amounts falling due within one year 7 (3,674 ) (4,662 )
NET CURRENT ASSETS 307,898 284,862
TOTAL ASSETS LESS CURRENT
LIABILITIES

866,350

824,713

CREDITORS
Amounts falling due after more than one
year

8

(723,206

)

(702,226

)

PROVISIONS FOR LIABILITIES (13,975 ) (12,680 )
NET ASSETS 129,169 109,807

CAPITAL AND RESERVES
Called up share capital 9 20 20
Non distributable reserve 76,651 67,107
Retained earnings 52,498 42,680
SHAREHOLDERS' FUNDS 129,169 109,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FOLBIGG PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08400581)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

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:





S R Hunt - Director


FOLBIGG PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08400581)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Folbigg Property Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
The turnover shown in the profit and loss account represents rental income receivable in the period.

Investment property
Investment property is included at fair value. Gains/losses are recognised in the profit and loss statement. Deferred taxation is provided on these gains at the rate expected to apply when the asset is sold.

Investments
Investments are included at fair value. Gains/losses are recognised in the profit and loss statement. Deferred tax is provided on these gains at the rate expected to apply when the asset is sold. Listed investments are valued at the current bid price at the balance sheet date.

Financial instruments
Basic financial instruments are recognised at amortised cost.

Current taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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 2 (2023 - 2 ) .

FOLBIGG PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08400581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 119,851
Additions 45,191
Disposals (37,429 )
Revaluations 10,839
At 31 March 2024 138,452
NET BOOK VALUE
At 31 March 2024 138,452
At 31 March 2023 119,851

The investments, which are all listed, have been valued at current bid price at the year end.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 420,000
NET BOOK VALUE
At 31 March 2024 420,000
At 31 March 2023 420,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 420,000

The investment property was valued on a fair value basis at 31 March 2024 by the directors who do not have formal valuation qualifications. In valuing the property the directors have considered sales prices of comparable properties in a similar area.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 4,159 3,894
Prepayments and accrued income 766 323
4,925 4,217

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 1,693 2,681
Accruals and deferred income 1,981 1,981
3,674 4,662

FOLBIGG PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 08400581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts due to related party 723,206 702,226

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20 Ordinary £1 20 20

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S R Hunt and S M Hunt
Balance outstanding at start of year 3,894 2,088
Amounts advanced 265 1,806
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,159 3,894