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REGISTERED NUMBER: 08886243 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 August 2024

for

FAITH PROPERTY INVESTMENTS & CONSULTANCY
SERVICES LTD

FAITH PROPERTY INVESTMENTS & CONSULTANCY
SERVICES LTD (REGISTERED NUMBER: 08886243)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAITH PROPERTY INVESTMENTS & CONSULTANCY
SERVICES LTD

Company Information
for the year ended 31 August 2024







DIRECTORS: W M Hall
Mrs J T Hall





REGISTERED OFFICE: Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX





REGISTERED NUMBER: 08886243 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

FAITH PROPERTY INVESTMENTS & CONSULTANCY
SERVICES LTD (REGISTERED NUMBER: 08886243)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,988,973 1,989,234
Investments 5 5,000 15,000
1,993,973 2,004,234

CURRENT ASSETS
Cash at bank 1,387 4,746

CREDITORS
Amounts falling due within one year 6 731,657 815,181
NET CURRENT LIABILITIES (730,270 ) (810,435 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,263,703

1,193,799

CREDITORS
Amounts falling due after more than one
year

7

(81,205

)

(81,205

)

PROVISIONS FOR LIABILITIES (141,808 ) (107,774 )
NET ASSETS 1,040,690 1,004,820

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 425,424 459,458
Retained earnings 615,166 545,262
SHAREHOLDERS' FUNDS 1,040,690 1,004,820

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

FAITH PROPERTY INVESTMENTS & CONSULTANCY
SERVICES LTD (REGISTERED NUMBER: 08886243)

Balance Sheet - continued
31 August 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 Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by:




W M Hall - Director



Mrs J T Hall - Director


FAITH PROPERTY INVESTMENTS & CONSULTANCY
SERVICES LTD (REGISTERED NUMBER: 08886243)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Faith Property Investments & Consultancy Services 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.

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.

Turnover
Turnover represents net invoiced sales of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Improvements to property - 4% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

FAITH PROPERTY INVESTMENTS & CONSULTANCY
SERVICES LTD (REGISTERED NUMBER: 08886243)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 1,984,590 6,537 1,991,127
DEPRECIATION
At 1 September 2023 - 1,893 1,893
Charge for year - 261 261
At 31 August 2024 - 2,154 2,154
NET BOOK VALUE
At 31 August 2024 1,984,590 4,383 1,988,973
At 31 August 2023 1,984,590 4,644 1,989,234

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023 15,000
Disposals (10,000 )
At 31 August 2024 5,000
NET BOOK VALUE
At 31 August 2024 5,000
At 31 August 2023 15,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 155
Tax 20,195 19,905
Other creditors 7,000 -
Directors' current accounts 703,561 794,221
Accrued expenses 901 900
731,657 815,181

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 81,205 81,205

FAITH PROPERTY INVESTMENTS & CONSULTANCY
SERVICES LTD (REGISTERED NUMBER: 08886243)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 81,205 81,205

8. RESERVES
Revaluation
reserve
£   
At 1 September 2023 459,458
Deferred tax on revaluation (34,034 )

At 31 August 2024 425,424