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Registered number: 08974625
Fmc Gosling Properties Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08974625
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 850,000 850,000
850,000 850,000
CURRENT ASSETS
Debtors 5 6,264 7,136
Cash at bank and in hand 5,145 5,107
11,409 12,243
Creditors: Amounts Falling Due Within One Year 6 (312,571 ) (312,208 )
NET CURRENT ASSETS (LIABILITIES) (301,162 ) (299,965 )
TOTAL ASSETS LESS CURRENT LIABILITIES 548,838 550,035
Creditors: Amounts Falling Due After More Than One Year 7 (200,814 ) (210,599 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (77,630 ) (77,630 )
NET ASSETS 270,394 261,806
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 12 232,892 232,892
Profit and Loss Account 37,402 28,814
SHAREHOLDERS' FUNDS 270,394 261,806
Page 1
Page 2
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian Gosling
Director
29th January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Fmc Gosling Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08974625 . The registered office is Hillview 79 Highland Road, Chartham, Canterbury, CT4 7QQ.
The financial statements are presented in pound Sterling, and rounded to the nearest pound.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and rebates. Revenue from the collection of rental income is matched against the period it is related to.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account with those values held in a separate non-distributable reserve. These reserves are ring-fenced from distribution.
Deferred taxation is recognised at each valuation period based on measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 850,000
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,310 1,892
Other debtors 4,954 5,244
6,264 7,136
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 12,959 13,423
Other creditors 297,597 297,807
Taxation and social security 2,015 978
312,571 312,208
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 200,814 210,599
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 147,783 149,880
8. Deferred Taxation
The provision for deferred taxation is made up from fair value valuation surplus measurements.
Deferred taxation is recognised at each valuation period based on measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
2024 2023
£ £
Other timing differences 77,630 77,630
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 May 2023 77,630 77,630
Balance at 30 April 2024 77,630 77,630
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10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 1.000 each 1 1
99 Ordinary B shares of £ 1.000 each 99 99
100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mrs Michelle Kelly 290 - 290 - -
The above loan attracts interest at the annual rate of NIL and the above is interest free and has been paid in the year. 
12. Reserves
Revaluation Reserve
£
As at 1 May 2023 232,892
As at 30 April 2024 232,892
Non-distributable reserves relate to the surplus on the revaluation of investment properties under IAS16 of the Financial Reporting Standards 102. These reserves are ring-fenced from distribution.
13. Related Party Transactions
Included within other creditors is a loan to the company of 2023 - £294,156 (2023 - £292,756) leant by a key member of the board. This loan is interest free and repayable on demand.
14. Controlling Party Not Known
The company's controlling party is unknown.
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