Company Registration No. 1664992 (England and Wales)
Faversham Property Investments Limited
Unaudited accounts
for the year ended 31 March 2024
Faversham Property Investments Limited
Unaudited accounts
Contents
Faversham Property Investments Limited
Company Information
for the year ended 31 March 2024
Director
Vernon John Taylor
Company Number
1664992 (England and Wales)
Registered Office
ANCHOR HOUSE
DURHAM STREET
LONDON
SE11 5JA
Accountants
DCA Accountants Limited
Anchor House
4 Durham Street
London
SE11 5JA
Faversham Property Investments Limited
Accountants' report
Accountants' report to the director of Faversham Property Investments Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Faversham Property Investments Limited for the year ended
31 March 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Faversham Property Investments Limited, as a body, in accordance with the terms of our engagement letter dated 16 June 2024. Our work has been undertaken solely to prepare for your approval the accounts of Faversham Property Investments Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Faversham Property Investments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Faversham Property Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Faversham Property Investments Limited. You consider that Faversham Property Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Faversham Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
DCA Accountants Limited
Anchor House
4 Durham Street
London
SE11 5JA
1 December 2024
Faversham Property Investments Limited
Statement of financial position
as at 31 March 2024
Tangible assets
2,547,859
2,547,859
Investments
700,000
700,000
Cash at bank and in hand
275,397
151,655
Creditors: amounts falling due within one year
(76,914)
(59,631)
Net current assets
198,483
92,024
Total assets less current liabilities
3,446,342
3,339,883
Creditors: amounts falling due after more than one year
(398,235)
(445,200)
Net assets
3,048,107
2,894,683
Called up share capital
10,100
10,100
Revaluation reserve
1,180,700
1,180,700
Profit and loss account
1,857,307
1,703,883
Shareholders' funds
3,048,107
2,894,683
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 director acknowledges his 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 and authorised for issue on 1 December 2024 and were signed on its behalf by
Vernon John Taylor
Director
Company Registration No. 1664992
Faversham Property Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Faversham Property Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 1664992. The registered office is ANCHOR HOUSE, DURHAM STREET, LONDON, SE11 5JA.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Furniture and fittings - 25% per annum
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
2,607,363
86,200
2,693,563
At 31 March 2024
2,607,363
86,200
2,693,563
At 1 April 2023
59,504
86,200
145,704
At 31 March 2024
59,504
86,200
145,704
At 31 March 2024
2,547,859
-
2,547,859
At 31 March 2023
2,547,859
-
2,547,859
5
Investments
Subsidiary undertakings
Valuation at 1 April 2023
700,000
Valuation at 31 March 2024
700,000
Faversham Property Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
25,772
18,374
Taxes and social security
51,142
41,257
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
154,327
225,958
Amounts owed to group undertakings and other participating interests
243,908
219,242
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10,000 Non-voting shares of £1 each
10,000
10,000
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).