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Company Registration No. 14625935 (England and Wales)
Farris Property Group Ltd Unaudited accounts for the period from 30 January 2023 to 31 January 2024
Farris Property Group Ltd Unaudited accounts Contents
Page
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Farris Property Group Ltd Company Information for the period from 30 January 2023 to 31 January 2024
Director
Mr. Farris John Basem Abdul Hadi
Company Number
14625935 (England and Wales)
Registered Office
Units 16/17 + 24/25 The Sovereign Centre Office 16, High Street Weston-Super-Mare North Somerset BS23 1HL England
Accountants
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip Ruislip HA4 6SA
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Farris Property Group Ltd Statement of financial position as at 31 January 2024
2024 
Notes
£ 
Fixed assets
Tangible assets
39,966 
Investment property
768,637 
808,603 
Current assets
Debtors
13,353 
Cash at bank and in hand
101 
13,454 
Creditors: amounts falling due within one year
(934,401)
Net current liabilities
(920,947)
Total assets less current liabilities
(112,344)
Provisions for liabilities
Deferred tax
(5,257)
Net liabilities
(117,601)
Capital and reserves
Called up share capital
1 
Profit and loss account
(117,602)
Shareholders' funds
(117,601)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 October 2024 and were signed on its behalf by
Mr. Farris John Basem Abdul Hadi Director Company Registration No. 14625935
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Farris Property Group Ltd Notes to the Accounts for the period from 30 January 2023 to 31 January 2024
1
Statutory information
Farris Property Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 14625935. The registered office is Units 16/17 + 24/25, The Sovereign Centre, Office 16, High Street, Weston-Super-Mare, North Somerset, BS23 1HL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% RB
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Farris Property Group Ltd Notes to the Accounts for the period from 30 January 2023 to 31 January 2024
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 30 January 2023
- 
Additions
43,490 
At 31 January 2024
43,490 
Depreciation
Charge for the period
3,524 
At 31 January 2024
3,524 
Net book value
At 31 January 2024
39,966 
5
Investment property
2024 
£ 
Additions
768,637 
At 31 January 2024
768,637 
6
Debtors
2024 
£ 
Amounts falling due within one year
VAT
12,482 
Accrued income and prepayments
871 
13,353 
7
Creditors: amounts falling due within one year
2024 
£ 
Bank loans and overdrafts
523,539 
Other creditors
28,915 
Loans from directors
363,362 
Accruals
18,585 
934,401 
8
Deferred taxation
2024 
£ 
Accelerated capital allowances
5,257 
2024 
£ 
Charged to the profit and loss account
5,257 
Provision at end of period
5,257 
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Farris Property Group Ltd Notes to the Accounts for the period from 30 January 2023 to 31 January 2024
9
Transactions with related parties
At the end of the reporting date Key Estates Management Ltd owed the company £28,915.
10
Average number of employees
During the period the average number of employees was 0.
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