IRIS Accounts Production v24.3.0.553 10570806 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh105708062023-04-30105708062024-04-30105708062023-05-012024-04-30105708062022-04-30105708062022-05-012023-04-30105708062023-04-3010570806ns15:EnglandWales2023-05-012024-04-3010570806ns14:PoundSterling2023-05-012024-04-3010570806ns10:Director12023-05-012024-04-3010570806ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3010570806ns10:SmallEntities2023-05-012024-04-3010570806ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3010570806ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3010570806ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3010570806ns10:FullAccounts2023-05-012024-04-3010570806ns10:Director22023-05-012024-04-3010570806ns10:RegisteredOffice2023-05-012024-04-3010570806ns5:CurrentFinancialInstruments2024-04-3010570806ns5:CurrentFinancialInstruments2023-04-3010570806ns5:Non-currentFinancialInstruments2024-04-3010570806ns5:Non-currentFinancialInstruments2023-04-3010570806ns5:ShareCapital2024-04-3010570806ns5:ShareCapital2023-04-3010570806ns5:RetainedEarningsAccumulatedLosses2024-04-3010570806ns5:RetainedEarningsAccumulatedLosses2023-04-3010570806ns5:PlantMachinery2023-04-3010570806ns5:PlantMachinery2023-05-012024-04-3010570806ns5:PlantMachinery2024-04-3010570806ns5:PlantMachinery2023-04-3010570806ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-04-3010570806ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-04-30
REGISTERED NUMBER: 10570806 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

FPL PROPERTY SERVICES LTD

FPL PROPERTY SERVICES LTD (REGISTERED NUMBER: 10570806)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FPL PROPERTY SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr E Watkins
Mrs F Watkins





REGISTERED OFFICE: Ground Floor
Oakhurst House
77 Mount Eprhaim
Tunbridge Wells
Kent
TN4 8BS





REGISTERED NUMBER: 10570806 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

FPL PROPERTY SERVICES LTD (REGISTERED NUMBER: 10570806)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 32,161 33,854
Investment property 5 3,250,000 3,170,000
3,282,161 3,203,854

CURRENT ASSETS
Debtors 6 4,025 3,706
Cash at bank 57,690 9,687
61,715 13,393
CREDITORS
Amounts falling due within one year 7 (978,833 ) (972,595 )
NET CURRENT LIABILITIES (917,118 ) (959,202 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,365,043

2,244,652

CREDITORS
Amounts falling due after more than one
year

8

(1,683,260

)

(1,682,561

)

PROVISIONS FOR LIABILITIES (141,877 ) (126,677 )
NET ASSETS 539,906 435,414

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 539,904 435,412
539,906 435,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 22 November 2024 and were signed on its behalf by:



Mr E Watkins - Director


FPL PROPERTY SERVICES LTD (REGISTERED NUMBER: 10570806)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

FPL Property Services 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 as modified by the revaluation of certain assets.

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

Investment property
In accordance with FRS 102 reporting standards investment property is initially recognised at cost including directly attributable expenditure, with no depreciation charged on the properties held during the financial year.

Subsequent to initial recognition investment property is carried at fair value. Fair value is the price that would be received for the sale of the asset between two active market participants in an arms length transaction at the financial position date. Any fair value gains or losses arising from remeasurement are to be projected through the profit and loss account in accordance with the reporting standards.

Valuations under the fair value model are provided by the directors at the end of the reporting period.

The company is not subject to any restrictions relating to the realisability of investment property, or the remittance of income and proceeds of disposal.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 ) .

FPL PROPERTY SERVICES LTD (REGISTERED NUMBER: 10570806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 35,636
DEPRECIATION
At 1 May 2023 1,782
Charge for year 1,693
At 30 April 2024 3,475
NET BOOK VALUE
At 30 April 2024 32,161
At 30 April 2023 33,854

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 3,170,000
Revaluations 80,000
At 30 April 2024 3,250,000
NET BOOK VALUE
At 30 April 2024 3,250,000
At 30 April 2023 3,170,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2019 2,849
Valuation in 2020 243,509
Valuation in 2021 65,365
Valuation in 2022 35,000
Valuation in 2023 320,000
Valuation in 2024 80,000
Cost 2,503,277
3,250,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,503,277 2,503,277

Investment property was valued on an open market basis on 30 April 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 4,025 3,706

FPL PROPERTY SERVICES LTD (REGISTERED NUMBER: 10570806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 970,426 970,425
Accruals and deferred income 8,407 2,170
978,833 972,595

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans more 5yrs non-inst 783,260 782,561
Other creditors 900,000 900,000
1,683,260 1,682,561

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 783,260 782,561

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 783,260 773,628

The mortgage in respect of the investment property held by the company is secured against the assets to a value pari passu with that of the property.