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Registration number: 10650971

Focal Point Property Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Focal Point Property Group Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Focal Point Property Group Ltd

Company Information

Director

Mr Alpesh Malde

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Focal Point Property Group Ltd

(Registration number: 10650971)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

900

454

Investment property

5

1,775,000

1,725,000

Investments

6

1,600

1,600

 

1,777,500

1,727,054

Current assets

 

Debtors

7

12,519

6,809

Cash at bank and in hand

 

89,781

249,173

 

102,300

255,982

Creditors: Amounts falling due within one year

8

(4,960)

(960)

Net current assets

 

97,340

255,022

Total assets less current liabilities

 

1,874,840

1,982,076

Creditors: Amounts falling due after more than one year

8

(1,410,141)

(1,594,235)

Provisions for liabilities

(34,287)

(37,137)

Net assets

 

430,412

350,704

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

146,171

158,321

Retained earnings

283,241

191,383

Shareholders' funds

 

430,412

350,704

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 November 2024
 

 

Focal Point Property Group Ltd

(Registration number: 10650971)
Balance Sheet as at 29 February 2024 (continued)

.........................................
Mr Alpesh Malde
Director

 

Focal Point Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

25% Straight Line

Investment property

The fair value of the property has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in the location the property is situated.

 

Focal Point Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Focal Point Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

1,248

1,248

Additions

1,009

1,009

At 29 February 2024

2,257

2,257

Depreciation

At 1 March 2023

794

794

Charge for the year

563

563

At 29 February 2024

1,357

1,357

Carrying amount

At 29 February 2024

900

900

At 28 February 2023

454

454

5

Investment properties

2024
£

At 1 March

1,725,000

Additions

65,000

Fair value adjustments

(15,000)

At 29 February

1,775,000

The fair value of the property at 29th February 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £1,775,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

 

Focal Point Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

6

Investments

Subsidiaries

£

Cost or valuation

At 1 March 2023

1,600

Provision

Carrying amount

At 29 February 2024

1,600

At 28 February 2023

1,600

7

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

5,202

4,786

Prepayments

 

3,386

2,023

Other debtors

 

3,931

-

   

12,519

6,809

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

35

-

Accruals and deferred income

994

960

Other creditors

3,931

-

4,960

960

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

1,410,141

1,594,235