Registration number:
FTK Freehold Properties Limited
(A company limited by guarantee)
for the Period from 16 May 2023 to 31 May 2024
FTK Freehold Properties Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
FTK Freehold Properties Limited
Company Information
Directors |
Mr Michael Gower Mrs Lisa Wasserstein |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
FTK Freehold Properties Limited
for the Period Ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FTK Freehold Properties Limited for the period ended 31 May 2024 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of FTK Freehold Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of FTK Freehold Properties Limited and state those matters that we have agreed to state to the Board of Directors of FTK Freehold Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FTK Freehold Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that FTK Freehold Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of FTK Freehold Properties Limited. You consider that FTK Freehold Properties Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of FTK Freehold Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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1 Southampton Street
London
WC2R 0LR
FTK Freehold Properties Limited
(Registration number: 14873153)
Balance Sheet as at 31 May 2024
Note |
2024 |
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Fixed assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Net liabilities |
( |
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Reserves |
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Retained earnings |
(8,574) |
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Deficit |
(8,574) |
For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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FTK Freehold Properties Limited
Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 May 2024
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
FTK Freehold Properties Limited
Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 May 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Investment properties |
2024 |
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Additions |
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At 31 May |
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The company owns the freehold interest in a block of flats. The flats are subject to 999 year leases and therefore the freehold interest is not considered to have a value in excess of its cost and is not revalued in the financial statements.
There has been no valuation of investment property by an independent valuer.
Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Amounts due to related parties |
5 |
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