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REGISTERED NUMBER: 08073551 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

FOSPROP LIMITED

FOSPROP LIMITED (REGISTERED NUMBER: 08073551)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOSPROP LIMITED

COMPANY INFORMATION
for the year ended 29 FEBRUARY 2024







DIRECTORS: J H Foster
S J Foster
M K Foster





REGISTERED OFFICE: 3a Mitcham Road
Croydon
Surrey
CR0 3RU





REGISTERED NUMBER: 08073551 (England and Wales)





ACCOUNTANTS: C B Heslop & Company Limited
Chartered Accountants
1 High Street
Thatcham
Berks
RG19 3JG

FOSPROP LIMITED (REGISTERED NUMBER: 08073551)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,045 1,202,045
Investments 5 12,500 12,500
14,545 1,214,545

CURRENT ASSETS
Debtors 6 774,357 1,666
Cash at bank 5,854 29,635
780,211 31,301
CREDITORS
Amounts falling due within one year 7 8,116 521,273
NET CURRENT ASSETS/(LIABILITIES) 772,095 (489,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

786,640

724,573

CAPITAL AND RESERVES
Called up share capital 8 9,377 9,377
Other reserves 9 3,126 3,126
Retained earnings 9 774,137 712,070
SHAREHOLDERS' FUNDS 786,640 724,573

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:



J H Foster - Director


FOSPROP LIMITED (REGISTERED NUMBER: 08073551)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Fosprop 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Zero percent

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

FOSPROP LIMITED (REGISTERED NUMBER: 08073551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 March 2023 1,200,000 2,045 1,202,045
Disposals (1,200,000 ) - (1,200,000 )
At 29 February 2024 - 2,045 2,045
NET BOOK VALUE
At 29 February 2024 - 2,045 2,045
At 28 February 2023 1,200,000 2,045 1,202,045

Included in cost of land and buildings is freehold land of £ 1,200,000 (2023 - £ 1,200,000 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 12,500
NET BOOK VALUE
At 29 February 2024 12,500
At 28 February 2023 12,500

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Able Waterproofing Limited
Registered office:
Nature of business: Waterproofing
%
Class of shares: holding
Ordinary shares 100.00

The ordinary share capital of the company being 12,500 shares was acquired on 22 November 2020.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Amounts owed by group undertakings 773,553 -
Other debtors 804 1,666
774,357 1,666

FOSPROP LIMITED (REGISTERED NUMBER: 08073551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Amounts owed to group undertakings - 507,447
Taxation and social security 1,433 4,692
Other creditors 6,683 9,134
8,116 521,273

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1 Ordinary 1 9,377 9,377

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 March 2023 712,070 3,126 715,196
Profit for the year 106,067 - 106,067
Dividends (44,000 ) - (44,000 )
At 29 February 2024 774,137 3,126 777,263

10. CONTINGENT LIABILITIES

There were no contingent liabilities at the balance sheet date.

11. RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £773,553 (2022 - £507,447 due to) was due from Able Waterproofing Limited, a subsidiary company.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are considered to be the Directors by virtue of their share capital held.