Firmus Associates Limited |
Registered Number:08972626 |
For the year ended 30 April 2024
England and Wales
Unaudited Financial Statements
Firmus Associates Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
29,122
18,778
2
3
1,294,444
790,878
1,323,566
809,656
Trade and other receivables |
24,752
27,837
4
9,062
Cash and cash equivalents |
7,433
35,270
33,814
Trade and other payables: amounts falling due within one |
year |
(31,353)
(40,634)
5
2,461
(5,364)
Net current liabilities
Total assets less current liabilities |
1,318,202
812,117
Trade and other payables: amounts falling due after more |
than one year |
(277,217)
(260,579)
6
(133,372)
-
Provisions for liabilities |
924,251
Net assets
534,900
100
100
924,151
534,800
924,251
534,900
Shareholders' funds
For the year ended 30 April 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 of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Barry Leonard Thurston Director |
These financial statements were approved and authorised for issue by the Board on 10 January 2025 and were signed by: |
1 of 5
For the year ended 30 April 2024
Firmus Associates Limited
Statement of Financial Position Continued
The notes form part of these financial statements |
2 of 5
For the year ended 30 April 2024
Firmus Associates Limited
Notes to the Financial Statements
Statutory Information
Firmus Associates Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 08972626. |
Redroofs
Berrington Road
Tenbury Wells
WR15 8EN
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Computer equipment
Fixtures and fittings
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is originally recognised at cost, which includes the purchase cost and any attributable expenditure. Subsequently it is measured at reporting value at the reporting end date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
3 of 5
For the year ended 30 April 2024
Firmus Associates Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
40,009
4,446
2,882
32,681
17,655
-
-
17,655
50,336
2,882
4,446
57,664
Provision for depreciation and impairment |
21,231
4,446
1,550
15,235
Charge for year
7,311
-
280
7,031
28,542
4,446
1,830
22,266
28,070
1,052
-
29,122
17,446
1,332
-
18,778
795,638
504,362
1,300,000
4,760
796
5,556
1,294,444
790,878
Investment property comprises leasehold land and buildings that are furnished holiday lets. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 30 August 2024 by a firm of Chartered Surveyors, who are not connected with the company. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. As a result, the fair value of the properties at 30 April 2024 is considered, by the directors, to be £1,294,444 (2023 £790,887). The historical cost of the properties is £795,638 (2023 £795,638). |
4. Trade and other receivables |
2023
2024
27,837
24,752
4 of 5
For the year ended 30 April 2024
Firmus Associates Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year |
2023
2024
Bank loans and overdraft (secured) |
19,000
21,000
-
1,965
Taxation and social security |
2,779
976
6,270
7,412
12,585
-
40,634
31,353
The amount due within 1 year on the property loans is £19,000 (2023 £20,000). The loans are from Barclays Bank and secured on the property owned by the company. |
6. Trade and other payables: amounts falling due after more than one year |
2023
2024
Bank loans and overdraft (secured) |
260,579
277,217
The amount due after 1 year on the property loans is £260,579 (2023 £277,217). The loans are from Barclays Bank and secured on the property owned by the company. |
7. Average number of persons employed |
During the year the average number of employees was 2 (2023 : 2)
5 of 5