IRIS Accounts Production v24.3.2.46 05376264 Board of Directors 30.10.22 27.10.23 27.10.23 0 0 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053762642022-10-29053762642023-10-27053762642022-10-302023-10-27053762642021-10-31053762642021-11-012022-10-29053762642022-10-2905376264ns15:EnglandWales2022-10-302023-10-2705376264ns14:PoundSterling2022-10-302023-10-2705376264ns10:Director12022-10-302023-10-2705376264ns10:PrivateLimitedCompanyLtd2022-10-302023-10-2705376264ns10:SmallEntities2022-10-302023-10-2705376264ns10:AuditExemptWithAccountantsReport2022-10-302023-10-2705376264ns10:SmallCompaniesRegimeForDirectorsReport2022-10-302023-10-2705376264ns10:SmallCompaniesRegimeForAccounts2022-10-302023-10-2705376264ns10:FullAccounts2022-10-302023-10-2705376264ns10:Director22022-10-302023-10-2705376264ns10:Director32022-10-302023-10-2705376264ns10:Director42022-10-302023-10-2705376264ns10:CompanySecretary12022-10-302023-10-2705376264ns10:RegisteredOffice2022-10-302023-10-2705376264ns5:CurrentFinancialInstruments2023-10-2705376264ns5:CurrentFinancialInstruments2022-10-2905376264ns5:Non-currentFinancialInstruments2023-10-2705376264ns5:Non-currentFinancialInstruments2022-10-2905376264ns5:ShareCapital2023-10-2705376264ns5:ShareCapital2022-10-2905376264ns5:RevaluationReserve2023-10-2705376264ns5:RevaluationReserve2022-10-2905376264ns5:RetainedEarningsAccumulatedLosses2023-10-2705376264ns5:RetainedEarningsAccumulatedLosses2022-10-2905376264ns5:LandBuildings2022-10-302023-10-2705376264ns5:PlantMachinery2022-10-302023-10-2705376264ns5:LandBuildings2022-10-2905376264ns5:PlantMachinery2022-10-2905376264ns5:LandBuildings2023-10-2705376264ns5:PlantMachinery2023-10-2705376264ns5:LandBuildings2022-10-2905376264ns5:PlantMachinery2022-10-2905376264ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-10-2905376264ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-2705376264ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-10-302023-10-2705376264ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-10-2905376264ns5:CostValuation2022-10-2905376264ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-2705376264ns5:WithinOneYearns5:CurrentFinancialInstruments2022-10-2905376264ns5:RevaluationReserve2022-10-29
REGISTERED NUMBER: 05376264 (England and Wales)















Unaudited Financial Statements

for the Period 30 October 2022 to 27 October 2023

for

FGS Properties Limited

FGS Properties Limited (Registered number: 05376264)






Contents of the Financial Statements
for the Period 30 October 2022 to 27 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

FGS Properties Limited

Company Information
for the Period 30 October 2022 to 27 October 2023







DIRECTORS: M Graves
M Wells
F R Graves
D Wells





SECRETARY: M Graves





REGISTERED OFFICE: 1a Wharfside Mews
Sleaford
Lincolnshire
NG34 7TR





REGISTERED NUMBER: 05376264 (England and Wales)





ACCOUNTANTS: Prestige Accounting Limited T/A Simon Moss & Co
The Finance Centre
34a Southgate
Sleaford
Lincolnshire
NG34 7RY

FGS Properties Limited (Registered number: 05376264)

Balance Sheet
27 October 2023

27.10.23 29.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,072,100 1,111,827
Investments 5 200,012 200,012
1,272,112 1,311,839

CURRENT ASSETS
Debtors 6 4,645 266,422
Cash at bank 379,238 177,784
383,883 444,206
CREDITORS
Amounts falling due within one year 7 609,487 626,909
NET CURRENT LIABILITIES (225,604 ) (182,703 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,046,508

1,129,136

CREDITORS
Amounts falling due after more than one year 8 (50,594 ) (71,592 )

PROVISIONS FOR LIABILITIES (35,382 ) (36,629 )
NET ASSETS 960,532 1,020,915

CAPITAL AND RESERVES
Called up share capital 16 16
Revaluation reserve 10 850,000 850,000
Retained earnings 110,516 170,899
SHAREHOLDERS' FUNDS 960,532 1,020,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FGS Properties Limited (Registered number: 05376264)

Balance Sheet - continued
27 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:





M Graves - Director


FGS Properties Limited (Registered number: 05376264)

Notes to the Financial Statements
for the Period 30 October 2022 to 27 October 2023

1. STATUTORY INFORMATION

FGS Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 1% on cost
Plant and machinery etc - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

FGS Properties Limited (Registered number: 05376264)

Notes to the Financial Statements - continued
for the Period 30 October 2022 to 27 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 30 October 2022 1,037,564 259,816 1,297,380
Additions 9,004 18,498 27,502
At 27 October 2023 1,046,568 278,314 1,324,882
DEPRECIATION
At 30 October 2022 71,542 114,011 185,553
Charge for period 10,376 56,853 67,229
At 27 October 2023 81,918 170,864 252,782
NET BOOK VALUE
At 27 October 2023 964,650 107,450 1,072,100
At 29 October 2022 966,022 145,805 1,111,827

Cost or valuation at 27 October 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2014 850,000 - 850,000
Cost 196,568 278,314 474,882
1,046,568 278,314 1,324,882

Freehold land and buildings were valued on an open market basis on 22 May 2014 by Humberts Leisure .

FGS Properties Limited (Registered number: 05376264)

Notes to the Financial Statements - continued
for the Period 30 October 2022 to 27 October 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 30 October 2022 184,704
Transfer to ownership (68,800 )
At 27 October 2023 115,904
DEPRECIATION
At 30 October 2022 70,571
Charge for period 28,975
Transfer to ownership (59,008 )
At 27 October 2023 40,538
NET BOOK VALUE
At 27 October 2023 75,366
At 29 October 2022 114,133

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 30 October 2022
and 27 October 2023 200,012
NET BOOK VALUE
At 27 October 2023 200,012
At 29 October 2022 200,012

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.10.23 29.10.22
£    £   
Trade debtors - 245,133
Other debtors 4,645 21,289
4,645 266,422

FGS Properties Limited (Registered number: 05376264)

Notes to the Financial Statements - continued
for the Period 30 October 2022 to 27 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.10.23 29.10.22
£    £   
Hire purchase contracts 20,999 37,836
Amounts owed to group undertakings 127,198 161,824
Taxation and social security 48 48
Other creditors 461,242 427,201
609,487 626,909

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
27.10.23 29.10.22
£    £   
Hire purchase contracts 50,594 71,592

9. SECURED DEBTS

The following secured debts are included within creditors:

27.10.23 29.10.22
£    £   
Hire purchase contracts 71,593 109,428

10. RESERVES
Revaluation
reserve
£   
At 30 October 2022
and 27 October 2023 850,000

11. RELATED PARTY DISCLOSURES

Included in creditors is a loan to the company from Pleisuretime Pub Company Limited of £1,828 (29.10.22 - £1,828).

Included in creditors is an amount due to FGS Furnishings Limited of £125,370 (29.10.22 - £159,996).

The company charged rent of £43,333 (29.10.22 - £43,333) to Pleisuretime Pub Company Limited.

Included in sales is an amount invoiced to FGS Furnishings Ltd of £12,905. (27.10.22 - £19,546) and an amount invoiced to Pleisuretime Pub Company Ltd of 1,023. (29.10.22 - £5,390l).

FGS Properties Limited

Report of the Accountants to the Directors of
FGS Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 27 October 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Prestige Accounting Limited T/A Simon Moss & Co
The Finance Centre
34a Southgate
Sleaford
Lincolnshire
NG34 7RY


20 February 2025