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REGISTERED NUMBER: 01255809 (England and Wales)






FC Burrow Properties Limited

Financial Statements

for the Year Ended 30 April 2024






FC Burrow Properties Limited (Registered number: 01255809)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FC Burrow Properties Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: Mr F C Burrow
Mr S Burrow





SECRETARY: Mr S Burrow





REGISTERED OFFICE: Spa Street Works
Spa Street
Ossett
West Yorkshire
WF5 0HJ





REGISTERED NUMBER: 01255809 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

FC Burrow Properties Limited (Registered number: 01255809)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,897 1,570
Investment property 5 1,921,161 1,917,676
1,923,058 1,919,246

CURRENT ASSETS
Debtors 6 133,187 133,521
Cash at bank 34,578 45,876
167,765 179,397
CREDITORS
Amounts falling due within one year 7 55,649 89,164
NET CURRENT ASSETS 112,116 90,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,035,174

2,009,479

PROVISIONS FOR LIABILITIES 177,195 177,228
NET ASSETS 1,857,979 1,832,251

FC Burrow Properties Limited (Registered number: 01255809)

Statement of Financial Position - continued
30 April 2024

2024 2023
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 8 5,002 5,002
Retained earnings 9 1,852,977 1,827,249
SHAREHOLDERS' FUNDS 1,857,979 1,832,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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 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.

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 28 January 2025 and were signed on its behalf by:





Mr F C Burrow - Director


FC Burrow Properties Limited (Registered number: 01255809)

Notes to the Financial Statements
for the year ended 30 April 2024


1. STATUTORY INFORMATION

FC Burrow Properties 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 (£).


All financial information presented has been rounded to the nearest £, unless otherwise stated.

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 and excludes value added tax, where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Equipment - 25% on reducing balance

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.

Fair value has been determined by the directors having taken the appropriate professional advice and based on similar properties in the local area.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.


FC Burrow Properties Limited (Registered number: 01255809)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

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.

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 NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Improvements
to
property Equipment Totals
£    £    £   
COST
At 1 May 2023 4,038 7,750 11,788
Additions - 959 959
At 30 April 2024 4,038 8,709 12,747
DEPRECIATION
At 1 May 2023 4,038 6,180 10,218
Charge for year - 632 632
At 30 April 2024 4,038 6,812 10,850
NET BOOK VALUE
At 30 April 2024 - 1,897 1,897
At 30 April 2023 - 1,570 1,570

FC Burrow Properties Limited (Registered number: 01255809)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,917,676
Additions 3,885
Disposals (400 )
At 30 April 2024 1,921,161
NET BOOK VALUE
At 30 April 2024 1,921,161
At 30 April 2023 1,917,676

The directors are of the opinion that the current carrying value of the investment properties are a fair reflection of the market value in the current climate.

The historic cost of the investment properties is £801,022.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by connected parties 89,665 90,215
Other debtors 10,513 11,723
Directors' loan accounts 32,294 31,583
Prepayments and accrued income 715 -
133,187 133,521

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,015 186
Tax 6,560 31,442
VAT 67 678
Directors' loan accounts 45,067 52,218
Accruals and deferred income 2,940 4,640
55,649 89,164

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,002 Ordinary shares £1 5,002 5,002

FC Burrow Properties Limited (Registered number: 01255809)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


9. RESERVES
Retained
earnings
£   

At 1 May 2023 1,827,249
Profit for the year 25,728
At 30 April 2024 1,852,977

Included in retained earnings at 30 April 2024 is an amount of £1,296,974 (2023: £1,296,974 ) which is not distributable. This relates to an accumulated increase in the fair value of investment property, net of deferred tax.

10. OTHER FINANCIAL COMMITMENTS

The company provides a guarantee for the bank borrowings of F C Burrow Limited, a related party. At 30 April 2024, the bank overdraft and loans of F C Burrow Limited were £62,499.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr F C Burrow
Balance outstanding at start of year - 5,107
Amounts repaid - (5,107 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr S Burrow
Balance outstanding at start of year 31,583 30,964
Amounts advanced 711 619
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,294 31,583

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £89,665 (2023: £90,215) by F C Burrow Limited, a company in which Mr F C Burrow and Mr S Burrow are directors and shareholders.

The company rents premises to F C Burrows Limited and during the year rent of £nil (2023: £nil) was received.