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F W PROPERTY DEVELOPMENT LIMITED

Registered Number
10236817
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

F W PROPERTY DEVELOPMENT LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

WALKER, Kirkwood

Registered Address

1 Salisbury Street
Wolverhampton
WV3 0BG

Registered Number

10236817 (England and Wales)
F W PROPERTY DEVELOPMENT LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3,857,3553,859,535
3,857,3553,859,535
Current assets
Debtors638,788693,702
Cash at bank and on hand74418,357
639,532712,059
Creditors amounts falling due within one year3(245,083)(292,587)
Net current assets (liabilities)394,449419,472
Total assets less current liabilities4,251,8044,279,007
Creditors amounts falling due after one year4(2,675,654)(2,699,111)
Provisions for liabilities5(298,482)(298,482)
Net assets1,277,6681,281,414
Capital and reserves
Called up share capital100100
Other reserves1,457,2881,457,288
Profit and loss account(179,720)(175,974)
Shareholders' funds1,277,6681,281,414
The financial statements were approved and authorised for issue by the Director on 8 March 2025, and are signed on its behalf by:
WALKER, Kirkwood
Director
Registered Company No. 10236817
F W PROPERTY DEVELOPMENT LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.Average number of employees

20242023
Average number of employees during the year32
3.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,88838,160
Taxation and social security15,24110,027
Redeemable preference shares, liability214,400240,400
Other creditors11,5541,653
Accrued liabilities and deferred income-2,347
Total245,083292,587
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
4.Creditors: amounts due after one year

2024

2023

££
Trade creditors / trade payables26,88943,137
Bank borrowings and overdrafts2,593,0092,600,944
Amounts owed to related parties55,75655,030
Total2,675,6542,699,111
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)298,482298,482
Total298,482298,482
6.Related party transactions
The amount due to intercompany F W Littlewalkers Ltd is £55,756 (2023 £55,030) The amount due from intercompany Firewalker UK Ltd is £117,256.49 (2023 £127,571) The amount due from intercompany F W LittleWalker Coseley is £6,569 (2023 £45,770) The company's ultimate controlling party is Mr. Kirkwood Walker by virtue of his ownership of 100% of the issued share capital in the company.