Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10201491 Mr Filip Kaya iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10201491 2023-05-31 10201491 2024-05-31 10201491 2023-06-01 2024-05-31 10201491 frs-core:CurrentFinancialInstruments 2024-05-31 10201491 frs-core:Non-currentFinancialInstruments 2024-05-31 10201491 frs-core:ComputerEquipment 2024-05-31 10201491 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10201491 frs-core:ComputerEquipment 2023-05-31 10201491 frs-core:FurnitureFittings 2024-05-31 10201491 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10201491 frs-core:FurnitureFittings 2023-05-31 10201491 frs-core:MotorVehicles 2024-05-31 10201491 frs-core:MotorVehicles 2023-06-01 2024-05-31 10201491 frs-core:MotorVehicles 2023-05-31 10201491 frs-core:RevaluationReserve 2023-06-01 2024-05-31 10201491 frs-core:RevaluationReserve 2023-05-31 10201491 frs-core:RevaluationReserve 2024-05-31 10201491 frs-core:ShareCapital 2024-05-31 10201491 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10201491 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10201491 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10201491 frs-bus:SmallEntities 2023-06-01 2024-05-31 10201491 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10201491 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10201491 frs-bus:Director1 2023-06-01 2024-05-31 10201491 frs-countries:EnglandWales 2023-06-01 2024-05-31 10201491 2022-05-31 10201491 2023-05-31 10201491 2022-06-01 2023-05-31 10201491 frs-core:CurrentFinancialInstruments 2023-05-31 10201491 frs-core:Non-currentFinancialInstruments 2023-05-31 10201491 frs-core:RevaluationReserve 2023-05-31 10201491 frs-core:ShareCapital 2023-05-31 10201491 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10201491
FPK Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Noble One Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10201491
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,456 662
Investment Properties 5 1,726,003 1,667,836
1,729,459 1,668,498
CURRENT ASSETS
Cash at bank and in hand 10,692 24,560
10,692 24,560
Creditors: Amounts Falling Due Within One Year 6 (110,030 ) (146,753 )
NET CURRENT ASSETS (LIABILITIES) (99,338 ) (122,193 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,630,121 1,546,305
Creditors: Amounts Falling Due After More Than One Year 7 (1,336,797 ) (1,362,316 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (49,122 ) (29,418 )
NET ASSETS 244,202 154,571
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 258,535 154,465
Profit and Loss Account (14,433 ) 6
SHAREHOLDERS' FUNDS 244,202 154,571
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Filip Kaya
Director
08/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
FPK Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10201491 . The registered office is 114 Ripplewaters, St. Marys Island, Chatham, ME4 3AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 June 2023 - 1,659 868 2,527
Additions 4,000 - - 4,000
As at 31 May 2024 4,000 1,659 868 6,527
Depreciation
As at 1 June 2023 - 1,272 593 1,865
Provided during the period 1,000 97 109 1,206
As at 31 May 2024 1,000 1,369 702 3,071
Net Book Value
As at 31 May 2024 3,000 290 166 3,456
As at 1 June 2023 - 387 275 662
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 1,667,836
Disposals (45,903 )
Revaluations 104,070
As at 31 May 2024 1,726,003
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 6,218 5,303
Amounts owed to group undertakings 29,604 36,804
Other creditors 72,860 102,887
Taxation and social security 1,348 1,759
110,030 146,753
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 28,561 34,950
Other creditors 1,308,236 1,327,366
1,336,797 1,362,316
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Revaluation Reserve
£
As at 1 June 2023 154,465
Surplus on revaluation 104,070
As at 31 May 2024 258,535
Page 5