Company Registration No. 13054977 (England and Wales)
FKMT Limited
Unaudited accounts
for the year ended 31 March 2024
FKMT Limited
Unaudited accounts
Contents
FKMT Limited
Company Information
for the year ended 31 March 2024
Directors
Mr M.A. Spragg
Mrs T.G. Van Der Velde
Company Number
13054977 (England and Wales)
Registered Office
Wooden Shoes Oxford Road
Enysham
Witney
Oxon
OX29 4DA
England
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
FKMT Limited
Statement of financial position
as at 31 March 2024
Investment property
780,000
780,000
Cash at bank and in hand
26,002
14,001
Creditors: amounts falling due within one year
(587,885)
(344,396)
Net current liabilities
(561,506)
(330,082)
Total assets less current liabilities
219,339
450,189
Creditors: amounts falling due after more than one year
(194,603)
(425,924)
Provisions for liabilities
Deferred tax
(4,730)
(4,604)
Called up share capital
100
100
Profit and loss account
19,906
19,561
Shareholders' funds
20,006
19,661
For the year ending 31 March 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 21 November 2024 and were signed on its behalf by
Mr M.A. Spragg
Director
Company Registration No. 13054977
FKMT Limited
Notes to the Accounts
for the year ended 31 March 2024
FKMT Limited is a private company, limited by shares, registered in England and Wales, registration number 13054977. The registered office is Wooden Shoes Oxford Road, Enysham, Witney, Oxon, OX29 4DA, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rental income from investment properties.
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:
Plant & machinery
20% Straight line basis
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.
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.
FKMT Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Fair value at 1 April 2023
780,000
The investment properties are stated at fair value. The directors have undertaken appropriate revaluations as required to reflect the fair value position.
Amounts falling due within one year
Accrued income and prepayments
377
313
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
560,802
329,458
Deferred income
2,642
2,327
FKMT Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
185,735
417,056
Other creditors
8,868
8,868
Aggregate of amounts that fall due for payment after five years
185,735
417,056
Bank loans are secured by charges held against the Investment properties.
9
Deferred taxation
2024
2023
Accelerated capital allowances
30
-
Revaluation of investment property
6,153
6,153
Tax losses carried forward
(1,453)
(1,549)
Provision at start of year
4,604
14,279
Charged/(credited) to the profit and loss account
126
(9,675)
Provision at end of year
4,730
4,604
10
Transactions with related parties
The directors have jointly loaned funds to the company to provide working capital. The loans are repayable on demand. The amount owed to the directors at 31 March 2024 totalled £560,802 (2023 - £329,458).
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).