Fega Property Ltd |
Registered number: |
14412827 |
Statement of Financial Position |
as at 31 October 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
224,916 |
|
|
224,916 |
|
Current assets |
Cash at bank and in hand |
|
|
2,026 |
|
|
962 |
|
Creditors: amounts falling due within one year |
4 |
|
(71,375) |
|
|
(71,127) |
|
Net current liabilities |
|
|
|
(69,349) |
|
|
(70,165) |
|
Total assets less current liabilities |
|
|
|
155,567 |
|
|
154,751 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(157,580) |
|
|
(157,423) |
|
|
|
Net liabilities |
|
|
|
(2,013) |
|
|
(2,672) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
(2,014) |
|
|
(2,673) |
|
Shareholders' funds |
|
|
|
(2,013) |
|
|
(2,672) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
C Featherstone |
Director |
Approved by the board on 7 February 2025 |
|
Fega Property Ltd |
Notes to the Accounts |
for the year ended 31 October 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland. |
|
|
Going concern |
|
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Investment property |
|
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
|
|
2 |
Employees and directors |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of directors and persons employed by the company |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 November 2023 |
224,916 |
|
At 31 October 2024 |
224,916 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 October 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2024 |
224,916 |
|
At 31 October 2023 |
224,916 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2024 |
|
2023 |
£ |
£ |
|
Historical cost |
224,916 |
|
224,916 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
224,916 |
|
224,916 |
|
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Accruals |
1,516 |
|
1,468 |
|
Other creditors |
69,859 |
|
69,659 |
|
|
|
|
|
|
71,375 |
|
71,127 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
157,580 |
|
157,423 |
|
|
|
|
|
|
|
|
|
|
6 |
Loans |
2024 |
|
2023 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
157,580 |
|
157,423 |
|
|
|
|
|
|
|
|
|
|
The loan from Paragon Bank PLC contains a negative pledge, registered with Companies House under the charge code 1441 2827 0001 |
|
|
7 |
Other information |
|
|
Fega Property Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
38 Laxton Close |
|
Olveston |
|
Bristol |
|
BS35 4EB |