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REGISTERED NUMBER: 08708100 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

FMAG PROPERTY LIMITED

FMAG PROPERTY LIMITED (REGISTERED NUMBER: 08708100)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FMAG PROPERTY LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: Mrs L Gore
A P Gore





REGISTERED OFFICE: Bank Gallery
13 High Street
Kenilworth
Warwickshsire
CV8 1LY





REGISTERED NUMBER: 08708100 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

FMAG PROPERTY LIMITED (REGISTERED NUMBER: 08708100)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 224,596 210,068

CURRENT ASSETS
Debtors 5 17,605 282,986
Cash at bank 10,805 61,075
28,410 344,061
CREDITORS
Amounts falling due within one year 6 40,968 27,320
NET CURRENT (LIABILITIES)/ASSETS (12,558 ) 316,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,038

526,809

CREDITORS
Amounts falling due after more than one
year

7

16,578

26,567
NET ASSETS 195,460 500,242

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 195,458 500,240
SHAREHOLDERS' FUNDS 195,460 500,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

FMAG PROPERTY LIMITED (REGISTERED NUMBER: 08708100)

BALANCE SHEET - continued
31 January 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 31 October 2024 and were signed on its behalf by:





A P Gore - Director


FMAG PROPERTY LIMITED (REGISTERED NUMBER: 08708100)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Fmag Property Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 2 (2023 - 2 ) .

FMAG PROPERTY LIMITED (REGISTERED NUMBER: 08708100)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2023 210,068
Revaluations 14,528
At 31 January 2024 224,596
NET BOOK VALUE
At 31 January 2024 224,596
At 31 January 2023 210,068

Cost or valuation at 31 January 2024 is represented by:

Other
investments
£   
Valuation in 2024 224,596

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 17,605 282,986

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,037 9,897
Trade creditors 1,243 -
Taxation and social security 3,542 2,400
Other creditors 26,146 15,023
40,968 27,320

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,578 26,567

FMAG PROPERTY LIMITED (REGISTERED NUMBER: 08708100)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
A P Gore
Balance outstanding at start of year 40,000 123,329
Amounts repaid (40,000 ) (83,329 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 40,000

9. RELATED PARTY DISCLOSURES

During the year the company loaned the sum of £nil (2023: £202,780) to BAMAE LTD, a company in which Adam Gore is a director but not participator. No interest is currently being charged and no repayment terms have been set. The loan was written off during the year.

At 31 January 2024 other creditors included loans made to the company by the directors of £24,995 (2023: £14,034). The loans are interest free and have no fixed date for repayment.

10. ULTIMATE CONTROLLING PARTY

The controlling party is A P Gore.