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REGISTERED NUMBER: 10626206 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

FOUNDATION PROPERTY INVESTMENTS LTD

FOUNDATION PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 10626206)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOUNDATION PROPERTY INVESTMENTS LTD

COMPANY INFORMATION
for the year ended 28 February 2024







DIRECTOR: Ms P Efstathiou





REGISTERED OFFICE: 7 Lorian Close
Woodside Park
London
N12 7DW





REGISTERED NUMBER: 10626206 (England and Wales)





ACCOUNTANTS: Jeffrey C C Hoong FCCA
Hoong & Company
7 Lorian Close
Woodside Park
London
N12 7DW

FOUNDATION PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 10626206)

BALANCE SHEET
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 583,164 800,458

CURRENT ASSETS
Debtors 5 80,000 -
Cash at bank 8,086 9,247
88,086 9,247
CREDITORS
Amounts falling due within one year 6 1,924 2,780
NET CURRENT ASSETS 86,162 6,467
TOTAL ASSETS LESS CURRENT LIABILITIES 669,326 806,925

CREDITORS
Amounts falling due after more than one year 7 667,277 788,131
NET ASSETS 2,049 18,794

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 1,949 18,694
SHAREHOLDERS' FUNDS 2,049 18,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 25 November 2024 and were signed by:





Ms P Efstathiou - Director


FOUNDATION PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 10626206)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 February 2024

1. STATUTORY INFORMATION

Foundation Property Investments Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost

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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
COST
At 1 March 2023 376,041 448,028 2,384 826,453
Disposals - (224,014 ) - (224,014 )
At 28 February 2024 376,041 224,014 2,384 602,439
DEPRECIATION
At 1 March 2023 11,280 13,440 1,275 25,995
Eliminated on disposal - (6,720 ) - (6,720 )
At 28 February 2024 11,280 6,720 1,275 19,275
NET BOOK VALUE
At 28 February 2024 364,761 217,294 1,109 583,164
At 28 February 2023 364,761 434,588 1,109 800,458

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 80,000 -

FOUNDATION PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 10626206)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 484 1,730
Accrued expenses 1,440 1,050
1,924 2,780

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 272,260 496,981
Director's loan account 395,017 291,150
667,277 788,131

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 272,260 496,981

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 March 2023 18,694
Deficit for the year (16,745 )
At 28 February 2024 1,949