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REGISTERED NUMBER: 07727666 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29 FEBRUARY 2024

FOR

FAST HOMES INVESTMENTS LIMITED

FAST HOMES INVESTMENTS LIMITED (REGISTERED NUMBER: 07727666)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAST HOMES INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: N Teitelbaum





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 07727666 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

FAST HOMES INVESTMENTS LIMITED (REGISTERED NUMBER: 07727666)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,054,699 3,174,699

CURRENT ASSETS
Debtors 5 3,668 1,925
Cash at bank 135,097 214,993
138,765 216,918
CREDITORS
Amounts falling due within one year 6 317,627 571,656
NET CURRENT LIABILITIES (178,862 ) (354,738 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,875,837

2,819,961

CREDITORS
Amounts falling due after more than one year 7 (1,000,282 ) (1,030,874 )

PROVISIONS FOR LIABILITIES (218,394 ) (225,340 )
NET ASSETS 1,657,161 1,563,747

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 1,657,061 1,563,647
SHAREHOLDERS' FUNDS 1,657,161 1,563,747

FAST HOMES INVESTMENTS LIMITED (REGISTERED NUMBER: 07727666)

BALANCE SHEET - continued
29 FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 December 2024 and were signed by:





N Teitelbaum - Director


FAST HOMES INVESTMENTS LIMITED (REGISTERED NUMBER: 07727666)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Fast Homes Investments 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 rental income receivable.

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. If the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset is measured, initially, at the present value of the future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Going concern
The balance sheet at the end of the year recorded net current liabilities. However, the director believes sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

FAST HOMES INVESTMENTS LIMITED (REGISTERED NUMBER: 07727666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 3,174,699
Disposals (120,000 )
At 29 February 2024 3,054,699
NET BOOK VALUE
At 29 February 2024 3,054,699
At 28 February 2023 3,174,699

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 1,305,733
Cost 1,748,966
3,054,699

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,748,966 1,820,785

Investment properties were valued on an open market basis on 29 February 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,743 -
Amounts owed by group undertakings 100 100
Other debtors 1,825 1,825
3,668 1,925

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39,345 48,098
Trade creditors - 2,400
Amounts owed to group undertakings 180,749 439,083
Taxation and social security 37,060 24,825
Other creditors 60,473 57,250
317,627 571,656

FAST HOMES INVESTMENTS LIMITED (REGISTERED NUMBER: 07727666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,000,282 1,030,874

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 842,903 838,482

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,039,627 1,078,972