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REGISTERED NUMBER: 09626218 (England and Wales)















FOULERTON CRAIG PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024






FOULERTON CRAIG PROPERTY LIMITED (REGISTERED NUMBER: 09626218)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOULERTON CRAIG PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: T P Foulerton
B J Craig
Mrs D R Craig
Mrs H Foulerton





SECRETARY: T P Foulerton





REGISTERED OFFICE: Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL





REGISTERED NUMBER: 09626218 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

FOULERTON CRAIG PROPERTY LIMITED (REGISTERED NUMBER: 09626218)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,511,000 3,212,000

CURRENT ASSETS
Debtors 5 2,714 160,997
Cash at bank and in hand 3 277,704
2,717 438,701
CREDITORS
Amounts falling due within one year 6 2,151,644 1,938,526
NET CURRENT LIABILITIES (2,148,927 ) (1,499,825 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,362,073

1,712,175

CREDITORS
Amounts falling due after more than one
year

7

(2,046,762

)

(1,567,053

)

PROVISIONS FOR LIABILITIES (84,916 ) (36,047 )
NET ASSETS 230,395 109,075

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 230,295 108,975
SHAREHOLDERS' FUNDS 230,395 109,075

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

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

FOULERTON CRAIG PROPERTY LIMITED (REGISTERED NUMBER: 09626218)

BALANCE SHEET - continued
31 JULY 2024


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 23 December 2024 and were signed on its behalf by:





T P Foulerton - Director


FOULERTON CRAIG PROPERTY LIMITED (REGISTERED NUMBER: 09626218)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Foulerton Craig Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 4 (2023 - 4 ) .

FOULERTON CRAIG PROPERTY LIMITED (REGISTERED NUMBER: 09626218)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 3,212,000
Additions 1,103,525
Revaluations 195,475
At 31 July 2024 4,511,000
NET BOOK VALUE
At 31 July 2024 4,511,000
At 31 July 2023 3,212,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 195,475
Valuation in 2023 144,189
Cost 4,171,336
4,511,000

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

2024 2023
£    £   
Cost 4,171,336 3,067,811

Investment property was valued on an open market basis on 31 July 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,714 160,997

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,709 -
Trade creditors 72,013 27,342
Taxation and social security - 5
Other creditors 2,050,922 1,911,179
2,151,644 1,938,526

FOULERTON CRAIG PROPERTY LIMITED (REGISTERED NUMBER: 09626218)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 2,046,762 1,567,053

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 2,046,762 1,567,053

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans more 5yrs instal 2,046,762 1,567,053

Landbay Partners Limited hold fixed charges over multiple investment properties.

Paragon Bank PLC hold fixed charges over multiple investment properties.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
T P Foulerton
Balance outstanding at start of year 160,997 -
Amounts advanced - 160,997
Amounts repaid (160,997 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 160,997