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REGISTERED NUMBER: 03388163 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

FRONTLINK PROPERTIES LTD

FRONTLINK PROPERTIES LTD (REGISTERED NUMBER: 03388163)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FRONTLINK PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: A Beck





SECRETARY: C D Deutsch





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 03388163 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

FRONTLINK PROPERTIES LTD (REGISTERED NUMBER: 03388163)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,409 1,658
Investments 5 100,000 100,000
Investment property 6 4,228,983 4,228,983
4,330,392 4,330,641

CURRENT ASSETS
Debtors 7 112,211 305,349
Cash at bank 167,933 127,535
280,144 432,884
CREDITORS
Amounts falling due within one year 8 (90,197 ) (288,953 )
NET CURRENT ASSETS 189,947 143,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,520,339

4,474,572

CREDITORS
Amounts falling due after more than one
year

9

(2,271,785

)

(2,265,316

)
NET ASSETS 2,248,554 2,209,256

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 1,498,447 1,498,447
Retained earnings 12 750,007 710,709
SHAREHOLDERS' FUNDS 2,248,554 2,209,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FRONTLINK PROPERTIES LTD (REGISTERED NUMBER: 03388163)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 director and authorised for issue on 24 February 2025 and were signed by:





A Beck - Director


FRONTLINK PROPERTIES LTD (REGISTERED NUMBER: 03388163)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Frontlink Properties Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

FRONTLINK PROPERTIES LTD (REGISTERED NUMBER: 03388163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 28,827
DEPRECIATION
At 1 June 2023 27,169
Charge for year 249
At 31 May 2024 27,418
NET BOOK VALUE
At 31 May 2024 1,409
At 31 May 2023 1,658

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 100,000
NET BOOK VALUE
At 31 May 2024 100,000
At 31 May 2023 100,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 4,228,983
NET BOOK VALUE
At 31 May 2024 4,228,983
At 31 May 2023 4,228,983

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2015 946,675
Valuation in 2017 376,269
Cost 2,906,039
4,228,983

FRONTLINK PROPERTIES LTD (REGISTERED NUMBER: 03388163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 12,211 -
Other debtors - 205,349
Amounts owed by group undertakings 100,000 100,000
112,211 305,349

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Tax 12,983 6,390
Other creditors 76,254 281,603
Accrued expenses 960 960
90,197 288,953

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans more 5 yr by instal 856,131 885,524
Bank loans more 5 yrs non-inst 1,395,654 1,349,792
Other loans - 2-5 years 20,000 30,000
2,271,785 2,265,316

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,395,654 1,349,792

Repayable by instalments
Bank loans more 5 yr by instal 856,131 885,524

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 2,251,785 2,235,316
Other loans 20,000 30,000
2,271,785 2,265,316

1.Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates.

2.Under the bank loan, £20,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

FRONTLINK PROPERTIES LTD (REGISTERED NUMBER: 03388163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2023 710,709 1,498,447 2,209,156
Profit for the year 39,298 39,298
At 31 May 2024 750,007 1,498,447 2,248,454

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Beck.