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REGISTERED NUMBER: 11937675 (England and Wales)







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: Mr P E Fredericks
Mrs S Y Fredericks





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 11937675 (England and Wales)





ACCOUNTANTS: Dunkley's
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 4 572 1,095
Investment property 5 1,950,000 1,950,000
1,950,572 1,951,095

CURRENT ASSETS
Debtors 6 15,218 10,197
Cash at bank 12,263 3,272
27,481 13,469
CREDITORS
Amounts falling due within one year 7 (69,165 ) (48,592 )
NET CURRENT LIABILITIES (41,684 ) (35,123 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,908,888 1,915,972

CREDITORS
Amounts falling due after more than one year 8 (626,007 ) (655,815 )

PROVISIONS FOR LIABILITIES (46,559 ) (34,785 )
NET ASSETS 1,236,322 1,225,372

CAPITAL AND RESERVES
Called up share capital 10 100,000 100,000
Share premium 11 996,612 996,612
Revaluation reserve 11 - 147,451
Fair value reserve 11 139,677 -
Retained earnings 11 33 (18,691 )
SHAREHOLDERS' FUNDS 1,236,322 1,225,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

Frome Valley Properties Ltd (Registered number: 11937675)

Balance Sheet - continued
5 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:




Mr P E Fredericks - Director



Mrs S Y Fredericks - Director


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 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 1 (2023 - 1 ) .

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 2,351 793 3,144
Disposals (755 ) - (755 )
At 5 April 2024 1,596 793 2,389
DEPRECIATION
At 6 April 2023 1,256 793 2,049
Charge for year 274 - 274
Eliminated on disposal (506 ) - (506 )
At 5 April 2024 1,024 793 1,817
NET BOOK VALUE
At 5 April 2024 572 - 572
At 5 April 2023 1,095 - 1,095

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023
and 5 April 2024 1,950,000
NET BOOK VALUE
At 5 April 2024 1,950,000
At 5 April 2023 1,950,000

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 4,120 -
Other debtors 10,567 10,197
Prepayments 531 -
15,218 10,197

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 4,162 -
Tax 13,207 2,721
Social security and other taxes - (12 )
Other creditors 10,567 10,197
Directors' current accounts 33,509 22,568
Deferred income 5,740 11,732
Accrued expenses 1,980 1,386
69,165 48,592

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
626,007 655,815

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 630,169 655,815

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: £    £   
21,000 Ordinary A £1 21,000 21,000
21,000 Ordinary B £1 21,000 21,000
58,000 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 (18,691 ) 996,612 147,451 - 1,125,372
Profit for the year 38,650 38,650
Dividends (27,700 ) (27,700 )
Assets revalued in period 7,774 - (7,774 ) 139,677 139,677
Reclassification transfer - - (139,677 ) - (139,677 )
At 5 April 2024 33 996,612 - 139,677 1,136,322