Registered number
06793539
Focusprice Properties Limited
Filleted Accounts
31 August 2024
Focusprice Properties Limited
Registered number: 06793539
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 250,000 250,000
Current assets
Debtors 4 - 181
Cash at bank and in hand 633 1,239
633 1,420
Creditors: amounts falling due within one year 5 (105,573) (110,154)
Net current liabilities (104,940) (108,734)
Total assets less current liabilities 145,060 141,266
Creditors: amounts falling due after more than one year 6 (2,497) (8,493)
Net assets 142,563 132,773
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 7 76,431 76,431
Profit and loss account 65,132 55,342
Shareholder's funds 142,563 132,773
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 and delivered 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.
S K Chopra
Director
Approved by the board on 7 February 2025
Focusprice Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rental of property.
Investments
Listed investments are measured at fair value.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 September 2023 250,000
At 31 August 2024 250,000
4 Debtors 2024 2023
£ £
Other debtors - 181
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,798 14,230
Trade creditors 12,781 12,925
Taxation and social security costs 4,469 1,974
Directors loan account 81,525 81,025
105,573 110,154
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,497 8,493
7 Revaluation reserve 2024 2023
£ £
At 1 September 2023 76,431 76,431
At 31 August 2024 76,431 76,431
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S K Chopra
Directors loan account 80,025 - 1,500 81,525
80,025 - 1,500 81,525
9 Controlling party
The company is controlled by the Director.
10 Other information
Focusprice Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
33 Bent Street
Manchester
M8 8NW
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