FTK Freehold Properties Limited 14873153 false 2023-05-16 2024-05-31 2024-05-31 The principal activity of the company is residential property management. Digita Accounts Production Advanced 6.30.9574.0 true 14873153 2023-05-16 2024-05-31 14873153 2024-05-31 14873153 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14873153 bus:SmallEntities 2023-05-16 2024-05-31 14873153 bus:AuditExemptWithAccountantsReport 2023-05-16 2024-05-31 14873153 bus:FilletedAccounts 2023-05-16 2024-05-31 14873153 bus:SmallCompaniesRegimeForAccounts 2023-05-16 2024-05-31 14873153 bus:RegisteredOffice 2023-05-16 2024-05-31 14873153 bus:Director1 2023-05-16 2024-05-31 14873153 bus:Director2 2023-05-16 2024-05-31 14873153 bus:CompanyLimitedByGuarantee 2023-05-16 2024-05-31 14873153 bus:Agent1 2023-05-16 2024-05-31 14873153 countries:EnglandWales 2023-05-16 2024-05-31 iso4217:GBP xbrli:pure

Registration number: 14873153

FTK Freehold Properties Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Period from 16 May 2023 to 31 May 2024

 

FTK Freehold Properties Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 5

 

FTK Freehold Properties Limited

Company Information

Directors

Mr Michael Gower

Mrs Lisa Wasserstein

Registered office

Salisbury House London Wall
London
EC2M 5PS

Accountants

Charter Tax Consulting Limited 8th Floor
1 Southampton Street
London
WC2R 0LR

 

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.

......................................

Charter Tax Consulting Limited
8th Floor
1 Southampton Street
London
WC2R 0LR

14 February 2025

 

FTK Freehold Properties Limited

(Registration number: 14873153)
Balance Sheet as at 31 May 2024

Note

2024
£

Fixed assets

 

Investment property

4

5

Current assets

 

Cash at bank and in hand

 

19,976

Creditors: Amounts falling due within one year

5

(28,555)

Net current liabilities

 

(8,579)

Net liabilities

 

(8,574)

Reserves

 

Retained earnings

(8,574)

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2025 and signed on its behalf by:
 


Mr Michael Gower
Director


Mrs Lisa Wasserstein
Director

 

FTK Freehold Properties Limited

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 May 2024

1

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:
Salisbury House London Wall
London
EC2M 5PS
United Kingdom

These financial statements were authorised for issue by the Board on 14 February 2025.

2

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

The company has deviated from the requirement to value investment property at fair value due to the nature of the investment property owned, as disclosed in note 4 of the financial statements.

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investment properties

2024
£

Additions

5

At 31 May

5

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.

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

2,700

Other creditors

25,850

Amounts due to related parties

5

28,555