Registered number
10626794
Firswood Properties Limited
Filleted Accounts
31 January 2024
Firswood Properties Limited
Registered number: 10626794
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 581,552 563,736
Current assets
Cash at bank and in hand 376 12,129
Creditors: amounts falling due within one year 4 (79,636) (92,605)
Net current liabilities (79,260) (80,476)
Total assets less current liabilities 502,292 483,260
Creditors: amounts falling due after more than one year 5 (290,509) (291,850)
Net assets 211,783 191,410
Capital and reserves
Revaluation reserve 6 210,988 192,988
Profit and loss account 795 (1,578)
Shareholder's funds 211,783 191,410
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Whitehurst
Director
Approved by the board on 12 July 2024
Firswood Properties Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 563,000 981 563,981
At 31 January 2024 581,000 981 581,981
Depreciation
At 1 February 2023 - 245 245
Charge for the year - 184 184
At 31 January 2024 - 429 429
Net book value
At 31 January 2024 581,000 552 581,552
At 31 January 2023 563,000 736 563,736
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 79,636 92,605
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 290,509 291,850
6 Revaluation reserve 2024 2023
£ £
At 1 February 2023 192,988 103,966
Gain on revaluation of land and buildings 18,000 89,022
At 31 January 2024 210,988 192,988
7 Other information
Firswood Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
76c Davyhulme Road
Davyhulme
Manchester
M41 7DN
Firswood Properties Limited 10626794 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 J Whitehurst No description of principal activity 10626794 2022-02-01 2023-01-31 10626794 core:RevaluationReserve core:LandBuildings 2022-02-01 2023-01-31 10626794 core:WithinOneYear 2023-01-31 10626794 core:AfterOneYear 2023-01-31 10626794 core:OtherReservesSubtotal 2023-01-31 10626794 core:RetainedEarningsAccumulatedLosses 2023-01-31 10626794 core:RevaluationReserve 2022-01-31 10626794 2023-02-01 2024-01-31 10626794 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10626794 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10626794 bus:Director40 2023-02-01 2024-01-31 10626794 1 2023-02-01 2024-01-31 10626794 2 2023-02-01 2024-01-31 10626794 core:LandBuildings 2023-02-01 2024-01-31 10626794 core:PlantMachinery 2023-02-01 2024-01-31 10626794 core:RevaluationReserve core:LandBuildings 2023-02-01 2024-01-31 10626794 countries:England 2023-02-01 2024-01-31 10626794 bus:FRS102 2023-02-01 2024-01-31 10626794 bus:FilletedAccounts 2023-02-01 2024-01-31 10626794 2024-01-31 10626794 core:WithinOneYear 2024-01-31 10626794 core:AfterOneYear 2024-01-31 10626794 core:OtherReservesSubtotal 2024-01-31 10626794 core:RetainedEarningsAccumulatedLosses 2024-01-31 10626794 core:LandBuildings 2024-01-31 10626794 core:PlantMachinery 2024-01-31 10626794 core:RevaluationReserve 2024-01-31 10626794 2023-01-31 10626794 core:LandBuildings 2023-01-31 10626794 core:PlantMachinery 2023-01-31 10626794 core:RevaluationReserve 2023-01-31 iso4217:GBP xbrli:pure