REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2024 |
for |
Frome Valley Properties Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2024 |
for |
Frome Valley Properties Ltd |
Frome Valley Properties Ltd (Registered number: 11937675) |
Contents of the Financial Statements |
for the Year Ended 5 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Frome Valley Properties Ltd |
Company Information |
for the Year Ended 5 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Woodlands Grange |
Woodlands Lane |
Bradley Stoke |
Bristol |
United Kingdom |
BS32 4JY |
Frome Valley Properties Ltd (Registered number: 11937675) |
Balance Sheet |
5 April 2024 |
5.4.24 | 5.4.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium | 11 |
Revaluation reserve | 11 |
Fair value reserve | 11 |
Retained earnings | 11 | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
Frome Valley Properties Ltd (Registered number: 11937675) |
Balance Sheet - continued |
5 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Frome Valley Properties Ltd (Registered number: 11937675) |
Notes to the Financial Statements |
for the Year Ended 5 April 2024 |
1. | STATUTORY INFORMATION |
Frome Valley Properties Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 |
Frome Valley Properties Ltd (Registered number: 11937675) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 6 April 2023 |
Disposals | ( |
) | ( |
) |
At 5 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2023 |
and 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
Fair value at 5 April 2024 is represented by: |
£ |
Valuation in 2021 | 121,236 |
Valuation in 2022 | 65,000 |
Cost | 1,763,764 |
1,950,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
5.4.24 | 5.4.23 |
£ | £ |
Cost | 1,763,764 | 1,763,764 |
Investment property was valued on an open market basis on 5 April 2024 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
Frome Valley Properties Ltd (Registered number: 11937675) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Other loans |
Tax |
Social security and other taxes | ( |
) |
Other creditors |
Directors' current accounts | 33,509 | 22,568 |
Deferred income |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Other loans - 1-2 years | 4,314 | - |
Other loans - 2-5 years | 13,905 | - |
Other loans more 5yrs non-inst | 607,788 | 655,815 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst | 607,788 | 655,815 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
5.4.24 | 5.4.23 |
£ | £ |
Other loans |
The loans are secured by a fixed charge on the investment properties as indicated in note 7. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 5.4.24 | 5.4.23 |
value: | £ | £ |
Ordinary A | £1 | 21,000 | 21,000 |
Ordinary B | £1 | 21,000 | 21,000 |
Ordinary C | £1 | 58,000 | 58,000 |
100,000 | 100,000 |
Frome Valley Properties Ltd (Registered number: 11937675) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
11. | RESERVES |
Fair |
Retained | Share | Revaluation | value |
earnings | premium | reserve | reserve | Totals |
£ | £ | £ | £ | £ |
At 6 April 2023 | ( |
) | 1,125,372 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Assets revalued in period | 7,774 | - | (7,774 | ) | 139,677 | 139,677 |
Reclassification transfer | - | - | (139,677 | ) | - | (139,677 | ) |
At 5 April 2024 | 1,136,322 |