REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
74 FORTUNE GREEN ROAD LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
74 FORTUNE GREEN ROAD LIMITED |
74 FORTUNE GREEN ROAD LIMITED (REGISTERED NUMBER: 11398819) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
74 FORTUNE GREEN ROAD LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
55 Loudoun Road |
London |
NW8 0DL |
74 FORTUNE GREEN ROAD LIMITED (REGISTERED NUMBER: 11398819) |
BALANCE SHEET |
31 MAY 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Other reserves |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
74 FORTUNE GREEN ROAD LIMITED (REGISTERED NUMBER: 11398819) |
BALANCE SHEET - continued |
31 MAY 2024 |
The financial statements were approved by the director and authorised for issue on |
74 FORTUNE GREEN ROAD LIMITED (REGISTERED NUMBER: 11398819) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
74 Fortune Green Road Limited is a |
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. |
The director reports net current liabilities of £762,089 (2023: £782,773) at the balance sheet date. The parent company confirms that it will continue to support the company and will not seek repayment of the amounts it is owed ahead of other creditors in the foreseeable future. |
Due to the above the director believes that it is appropriate for the financial statements to be prepared on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the rent received or receivable, excluding discounts, rebates,value added tax and other sales taxes. |
Investment property |
Investment property is shown at fair value. 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 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 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. |
74 FORTUNE GREEN ROAD LIMITED (REGISTERED NUMBER: 11398819) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Fair value at 31 May 2024 is represented by: |
£ |
Valuation in 2024 | 216,959 |
Cost | 707,513 |
924,472 |
Investment properties were valued on an open market basis and the director considers this to be the fair value at the balance sheet date. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
31.5.24 | 31.5.23 |
£ | £ |
Deferred tax | 54,240 | 41,222 |
74 FORTUNE GREEN ROAD LIMITED (REGISTERED NUMBER: 11398819) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
7. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 June 2023 |
Charge to Income Statement during year |
Balance at 31 May 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
9. | RELATED PARTY DISCLOSURES |
Millers Terrace Limited |
A company in which Mrs O Weinberger is a director. |
During the year there were loan repayments of £16,350 and loans of £51,647 in 2023. |
31.5.24 | 31.5.23 |
£ | £ |
Amount due to related party at the balance sheet date | 45,926 | 62,276 |
Sho Investments Limited |
Parent company. |
During the year there were loan repayments of £5,600 and loans of £3,350 in 2023. |
31.5.24 | 31.5.23 |
£ | £ |
Amount due to related party at the balance sheet date | 727,402 | 733,002 |
Mrs O Weinberger |
The director acts as a guarantor for the loan recognised on the accounts. |
74 FORTUNE GREEN ROAD LIMITED (REGISTERED NUMBER: 11398819) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
10. | ULTIMATE CONTROLLING PARTY |
The company is wholly owned by Sho Investments Limited. |
Sho Investments Limited is under the control of Mrs O Weinberger. |