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COMPANY REGISTRATION NUMBER: 02926825
Family Investment (Four) Limited
Filleted Unaudited Financial Statements
31 March 2024
Family Investment (Four) Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Family Investment (Four) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
236,661
254,278
Investments
6
500
500
---------
---------
237,161
254,778
Current assets
Debtors
7
18,049
718
Cash at bank and in hand
96,877
122,486
---------
---------
114,926
123,204
Creditors: amounts falling due within one year
8
12,408
20,100
---------
---------
Net current assets
102,518
103,104
---------
---------
Total assets less current liabilities
339,679
357,882
Provisions
1,503
2,858
---------
---------
Net assets
338,176
355,024
---------
---------
Capital and reserves
Called up share capital
248,000
248,000
Share premium account
34,966
34,966
Revaluation reserve
44,097
44,097
Profit and loss account
11,113
27,961
---------
---------
Shareholders funds
338,176
355,024
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Family Investment (Four) Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024 , and are signed on behalf of the board by:
Mrs Y Elder
Director
Company registration number: 02926825
Family Investment (Four) Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bridge House Green Hills, Barham, Canterbury, Kent, CT4 6LE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 10 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
387,528
17,099
38,003
44,678
487,308
Additions
1,845
1,644
3,489
---------
--------
--------
--------
---------
At 31 March 2024
387,528
18,944
38,003
46,322
490,797
---------
--------
--------
--------
---------
Depreciation
At 1 April 2023
162,243
7,316
31,423
32,048
233,030
Charge for the year
7,751
4,482
1,316
7,557
21,106
---------
--------
--------
--------
---------
At 31 March 2024
169,994
11,798
32,739
39,605
254,136
---------
--------
--------
--------
---------
Carrying amount
At 31 March 2024
217,534
7,146
5,264
6,717
236,661
---------
--------
--------
--------
---------
At 31 March 2023
225,285
9,783
6,580
12,630
254,278
---------
--------
--------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2023 and 31 March 2024
500
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
500
----
At 31 March 2023
500
----
7. Debtors
2024
2023
£
£
Other debtors
18,049
718
--------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,073
6,656
Corporation tax
149
Social security and other taxes
2,610
2,738
Other creditors
7,576
10,706
--------
--------
12,408
20,100
--------
--------