Company registration number:
11375200
Formosa Property Limited
Unaudited filleted financial statements
31 May 2024
Formosa Property Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
Formosa Property Limited
Directors and other information
|
|
|
|
Directors |
Mr Gerome Paul Formosa |
|
|
Mr Daniel John Formosa |
|
|
|
|
|
|
|
Company number |
11375200 |
|
|
|
|
|
|
|
Registered office |
5 Calico Row |
|
|
Plantation Wharf |
|
|
London |
|
|
SW11 3YH |
|
|
|
|
|
|
|
Accountant |
Reza Samii |
|
|
19 Cornerways |
|
|
1 Daylesford Avenue |
|
|
London |
|
|
SW15 5QP |
|
|
|
Formosa Property Limited
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of Formosa Property Limited
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Formosa Property Limited for the year ended 31 May 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
My work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Reza Samii
Chartered Accountant
19 Cornerways
1 Daylesford Avenue
London
SW15 5QP
7 February 2025
Formosa Property Limited
Statement of financial position
31 May 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
5 |
334 |
|
|
|
597 |
|
|
Cash at bank and in hand |
|
|
3 |
|
|
|
3 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
337 |
|
|
|
600 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
237) |
|
|
|
(
500) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
100 |
|
|
|
100 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
100 |
|
|
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
100 |
|
|
|
100 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
100 |
|
|
|
100 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
07 February 2025
, and are signed on behalf of the board by:
Mr Gerome Paul Formosa
Director
Company registration number:
11375200
Formosa Property Limited
Notes to the financial statements
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Formosa Property Limited, 5 Calico Row, Plantation Wharf, London, SW11 3YH.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
- |
263 |
|
Other debtors |
|
334 |
334 |
|
|
|
_______ |
_______ |
|
|
|
334 |
597 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
237 |
- |
|
Other creditors |
|
- |
500 |
|
|
|
_______ |
_______ |
|
|
|
237 |
500 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
Formosa London Limited |
500 |
67,485 |
(
237) |
263 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
The sum of £273 owed to related party is unsecured, interest free and repayable on demand.
8.
Controlling party
The immediate parent undertaking and controlling party (100%) is Formosa London Limited, a company registered in the UK with registered address at: 5 Calico Row, Plantation Wharf, London SW11 3YH.The company's ultimate controlling party is considered to be Mr Gerome Formosa, the director.