FAWM Property Limited |
Registered number: |
10660961 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
116 |
|
|
- |
Investments |
4 |
|
|
140,000 |
|
|
166,000 |
|
|
|
|
140,116 |
|
|
166,000 |
|
Current assets |
Debtors |
5 |
|
8,574 |
|
|
25,240 |
Cash at bank and in hand |
|
|
55,247 |
|
|
11,257 |
|
|
|
63,821 |
|
|
36,497 |
|
Creditors: amounts falling due within one year |
6 |
|
(178,368) |
|
|
(187,588) |
|
Net current liabilities |
|
|
|
(114,547) |
|
|
(151,091) |
|
Total assets less current liabilities |
|
|
|
25,569 |
|
|
14,909 |
|
|
Provisions for liabilities |
|
|
|
(2,202) |
|
|
(1,269) |
|
|
Net assets |
|
|
|
23,367 |
|
|
13,640 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
120 |
|
|
120 |
Profit and loss account |
|
|
|
23,247 |
|
|
13,520 |
|
Shareholders' funds |
|
|
|
23,367 |
|
|
13,640 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their 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. |
|
|
|
|
A. Minchin |
Director |
Approved by the board on 24 October 2024 |
|
FAWM Property Limited |
Notes to the Accounts |
for the year ended 31 March 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 rental income received or receivable. |
|
|
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: |
|
|
Freehold buildings |
over 8 years |
|
Fixtures, fittings, tools and equipment |
over 3 years |
|
|
Investments |
|
Unlisted property investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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 |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
Additions |
174 |
|
At 31 March 2024 |
174 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the year |
58 |
|
At 31 March 2024 |
58 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
116 |
|
|
4 |
Investments |
|
Other |
investments |
£ |
|
Cost |
|
At 1 April 2023 |
166,000 |
|
Additions |
41,319 |
|
Revaluation |
13,681 |
|
Disposals |
(81,000) |
|
|
At 31 March 2024 |
140,000 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 April 2023 |
159,319 |
|
At 31 March 2024 |
121,934 |
|
|
|
|
|
|
|
|
|
|
Property investments were revalued by the directors based on local selling prices. |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
8,574 |
|
25,240 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Other creditors |
178,368 |
|
187,588 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
W. Minchin |
|
Overdrawn director's loan account, interest free and repayable on demand |
25,000 |
|
- |
|
(25,000) |
|
- |
|
|
|
25,000 |
|
- |
|
(25,000) |
|
- |
|
|
|
|
|
|
|
|
|
|
8 |
Related party transactions |
|
|
Loans from the shareholders of £40,000 [2023: £0] are outstanding at the balance sheet date. The amounts are interest free and repayable on demand. |
|
|
9 |
Other information |
|
|
FAWM Property Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Barn Ridge |
|
Coopers Hill Road |
|
South Nutfield |
|
RH1 5PD |