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REGISTERED NUMBER: 03525333 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Findlater Properties Limited

Findlater Properties Limited (Registered number: 03525333)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Findlater Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K Findlater
S Findlater
Mrs S Findlater





SECRETARY: Mrs S Findlater





REGISTERED OFFICE: 4 Cedar Walk
Kenley
Surrey
CR8 5JL





REGISTERED NUMBER: 03525333 (England and Wales)





ACCOUNTANTS: M Goddard & Co
Chartered Accountants
69 Tupwood Lane
Caterham
Surrey
CR3 6DD

Findlater Properties Limited (Registered number: 03525333)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,801,317 2,802,707

CURRENT ASSETS
Stocks 184,413 9,611
Debtors 1,712 1,481
Cash at bank 43,762 88,488
229,887 99,580
CREDITORS
Amounts falling due within one year 121,524 32,760
NET CURRENT ASSETS 108,363 66,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,909,680

2,869,527

CREDITORS
Amounts falling due after more than one
year

5

(112,933

)

(75,196

)

PROVISIONS FOR LIABILITIES (231,584 ) (231,598 )
NET ASSETS 2,565,163 2,562,733

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,565,159 2,562,729
SHAREHOLDERS' FUNDS 2,565,163 2,562,733

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Findlater Properties Limited (Registered number: 03525333)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 November 2024 and were signed on its behalf by:




K Findlater - Director S Findlater - Director




Mrs S Findlater - Director


Findlater Properties Limited (Registered number: 03525333)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Findlater Properties Limited 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
Turnover represents net invoiced sales of materials and services and a provision for services provided by the year end date but not invoiced, excluding value added tax.

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 - not provided
Plant and machinery etc - 25% on reducing balance and 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Investment properties
Investment properties are not depreciated and are shown at market value at the year end date with the revalued amount being credited to the revenue reserves. All the companies properties, other than those held for resale are investment properties. Deferred tax has been calculated on the increase in property values with the charge being debited to revenue reserves and a deferred tax liability being shown on the balance sheet under provisions for liabilities.

Findlater Properties Limited (Registered number: 03525333)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 2,831,381
DEPRECIATION
At 1 April 2023 28,674
Charge for year 1,390
At 31 March 2024 30,064
NET BOOK VALUE
At 31 March 2024 2,801,317
At 31 March 2023 2,802,707

Cost or valuation at 31 March 2024 is represented by:

Totals
£   
Valuation in 2011 318,866
Valuation in 2013 48,050
Valuation in 2015 409,459
Valuation in 2016 247,852
Valuation in 2017 20,000
Valuation in 2019 455,000
Valuation in 2020 100,000
Valuation in 2021 (372,500 )
Valuation in 2022 189,500
Valuation in 2023 195,150
Cost 1,220,004
2,831,381

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.3.24 31.3.23
£    £   
Repayable by instalments
Bank loans over 5 years 60,533 51,196

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £70,000 (2023 - £70,000) were paid to the directors .

Rental income and expenses are included in the profit and loss account on a property owned personally by the directors. The company collects the rent, maintains the property and retains the rental profit on this property. At the year end Mr S Findlater, a director of the company was owed £55,378 (2023:£4,136) and Mr K Findlater, a director of the company was owed £13,520 (2023:£6,331).

Findlater Properties Limited (Registered number: 03525333)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. RETAINED EARNINGS

Under FRS 102 a revaluation reserve is no longer separately identifiable. The unrealised gains on revalued investment properties net of deferred tax amounts to £1,416,840 (2023:£1,416,840) and is included in retained earnings.