9 January 2023 v2024.46.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP145808372023-01-092024-01-31145808372024-01-3114580837core:WithinOneYear2024-01-3114580837core:AfterOneYear2024-01-3114580837core:ShareCapital2024-01-3114580837core:RetainedEarningsAccumulatedLosses2024-01-3114580837bus:Director12023-01-092024-01-3114580837bus:RegisteredOffice2023-01-092024-01-3114580837core:LandBuildings2023-01-092024-01-3114580837core:LandBuildings2024-01-311458083712023-01-092024-01-3114580837countries:EnglandWales2023-01-092024-01-3114580837bus:AuditExemptWithAccountantsReport2023-01-092024-01-3114580837bus:PrivateLimitedCompanyLtd2023-01-092024-01-3114580837bus:SmallEntities2023-01-092024-01-3114580837bus:FullAccounts2023-01-092024-01-31
Company registration number:
14580837
Faraz Property Investment& Management Ltd
Unaudited Filleted Financial Statements for the period ended
31 January 2024
Faraz Property Investment& Management Ltd
Statement of Financial Position
31 January 2024
31 Jan 2024
Note£
Fixed assets  
Tangible assets 5
104,913
 
Current assets  
Cash at bank and in hand
43,789
 
Creditors: amounts falling due within one year 6
(115,054
)
Net current liabilities
(71,265
)
Total assets less current liabilities 33,648  
Creditors: amounts falling due after more than one year 7
(42,848
)
Net liabilities
(9,200
)
Capital and reserves  
Called up share capital
100
 
Profit and loss account
(9,300
)
Shareholders deficit
(9,200
)
For the period ending
31 January 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
4 October 2024
, and are signed on behalf of the board by:
Mr Omid Farazmand
Director
Company registration number:
14580837
Faraz Property Investment& Management Ltd
Notes to the Financial Statements
Period ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
109a Albert Street
,
Burnley
,
BB11 3DE
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the period was
1
.

5 Tangible assets

Land and buildings
£
Cost  
At
9 January 2023
-  
Additions
104,913
 
At
31 January 2024
104,913
 
Depreciation  
At
9 January 2023
and
31 January 2024
-  
Carrying amount  
At
31 January 2024
104,913
 

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
31 Jan 2024
£
Additions
104,913
 
Carrying amount at
31 January 2024
104,913
 

6 Creditors: amounts falling due within one year

31 Jan 2024
£
Other creditors
115,054
 

7 Creditors: amounts falling due after more than one year

31 Jan 2024
£
Bank loans and overdrafts
42,848