1 March 2023 false No description of principal activity Taxfiler 2024.5 SC655753business:PrivateLimitedCompanyLtd2023-03-012024-02-29 SC6557532023-02-28 SC6557532023-03-012024-02-29 SC655753business:AuditExemptWithAccountantsReport2023-03-012024-02-29 SC655753business:FilletedAccounts2023-03-012024-02-29 SC6557532024-02-29 SC655753business:Director12023-03-012024-02-29 SC655753business:Director22023-03-012024-02-29 SC655753business:Director32023-03-012024-02-29 SC655753business:RegisteredOffice2023-03-012024-02-29 SC6557532023-02-28 SC655753core:WithinOneYear2024-02-29 SC655753core:WithinOneYear2023-02-28 SC655753core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 SC655753core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 SC655753core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 SC655753core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 SC655753core:PreviouslyStatedAmount2024-02-29 SC655753core:PreviouslyStatedAmount2023-02-28 SC655753business:SmallEntities2023-03-012024-02-29 SC655753countries:Scotland2023-03-012024-02-29 SC655753core:FurnitureFittings2023-03-012024-02-29 SC655753core:FurnitureFittings2023-02-28 SC655753core:ComputerEquipment2023-02-28 SC655753core:FurnitureFittings2024-02-29 SC655753core:ComputerEquipment2024-02-29 SC655753core:ComputerEquipment2023-03-012024-02-29 SC655753business:OrdinaryShareClass12023-03-012024-02-29 SC655753business:OrdinaryShareClass12022-03-012023-02-28 SC6557532022-03-012023-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC655753 (Scotland)
FHC PROPERTY LTD Unaudited accounts for the year ended 29 February 2024
FHC PROPERTY LTD Unaudited accounts Contents
Page
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FHC PROPERTY LTD Company Information for the year ended 29 February 2024
Directors
Mr Robert Cameron Mrs Moira Ann Cameron Mr Fraser Hugh Cameron
Company Number
SC655753 (Scotland)
Registered Office
FHC Property Limited 2 Kirk Brae Lochaline PA80 5XW Scotland
Accountants
The Highland Bookkeeper 2 Achnaha View Lochaline Morvern Argyll PA80 5AB
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FHC PROPERTY LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
(1)
3,293 
Investment property
206,697 
206,697 
206,696 
209,990 
Current assets
Cash at bank and in hand
17,474 
5,897 
Creditors: amounts falling due within one year
(215,041)
(213,069)
Net current liabilities
(197,567)
(207,172)
Total assets less current liabilities
9,129 
2,818 
Provisions for liabilities
Deferred tax
- 
(626)
Net assets
9,129 
2,192 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
9,029 
2,092 
Shareholders' funds
9,129 
2,192 
For the year ending 29 February 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 directors acknowledge their 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 of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by
Mr Fraser Hugh Cameron Director Company Registration No. SC655753
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FHC PROPERTY LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
FHC PROPERTY LTD is a private company, limited by shares, registered in Scotland, registration number SC655753. The registered office is FHC Property Limited, 2 Kirk Brae, Lochaline, PA80 5XW, Scotland.
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 remained unchanged from the previous year, and also 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
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:
Fixtures & fittings
33%
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.
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FHC PROPERTY LTD Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
9,880 
1,880 
11,760 
At 29 February 2024
9,880 
1,880 
11,760 
Depreciation
At 1 March 2023
6,586 
1,881 
8,467 
Charge for the year
3,294 
- 
3,294 
At 29 February 2024
9,880 
1,881 
11,761 
Net book value
At 29 February 2024
- 
(1)
(1)
At 28 February 2023
3,294 
(1)
3,293 
5
Investment property
2024 
£ 
Fair value at 1 March 2023
206,697 
At 29 February 2024
206,697 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
1,972 
95 
Loans from directors
212,469 
212,374 
Accruals
600 
600 
215,041 
213,069 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
Creditors include the following amounts which are owed to individuals who were directors of the company during the year: Mrs Moira Ann Cameron £98,985 Mr Robert Cameron £98,985 Mr Fraser Hugh Cameron £17,728 Less £3,229 owed from a related company, Highland Basecamp Ltd, in which Mr Fraser Cameron is also a director. The above loan is payable on demand.
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FHC PROPERTY LTD Notes to the Accounts for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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