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REGISTERED NUMBER: 01492167 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

F.T. Commercials Limited

F.T. Commercials Limited (Registered number: 01492167)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


F.T. Commercials Limited (Registered number: 01492167)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 452,313 423,920

CURRENT ASSETS
Stocks 800 4,648
Debtors 5 124,711 109,985
Cash at bank and in hand 34,265 70,227
159,776 184,860
CREDITORS
Amounts falling due within one year 6 97,688 90,398
NET CURRENT ASSETS 62,088 94,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

514,401

518,382

PROVISIONS FOR LIABILITIES 42,783 37,690
NET ASSETS 471,618 480,692

CAPITAL AND RESERVES
Called up share capital 7 2 2
Revaluation reserve 8 311,855 335,935
Retained earnings 159,761 144,755
SHAREHOLDERS' FUNDS 471,618 480,692

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

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

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 3 March 2025 and were signed by:





L W Barker - Director


F.T. Commercials Limited (Registered number: 01492167)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

F.T. Commercials Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01492167

Registered office: 6 Kelham Lane
Newark
Nottinghamshire
NG24 1DW

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Freehold property is not depreciated due to regular maintenance and repairs which ensure that the property is maintained to a high standard. Due to this the value of the properties are not expected to reduce.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.


F.T. Commercials Limited (Registered number: 01492167)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and Computer
Buildings machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 469,661 58,108 - - 527,769
Additions - 28,250 1,220 620 30,090
Reclassification/transfer (49,661 ) - - - (49,661 )
At 31 March 2024 420,000 86,358 1,220 620 508,198
DEPRECIATION
At 1 April 2023 49,661 54,188 - - 103,849
Charge for year - 1,569 25 103 1,697
Reclassification/transfer (49,661 ) - - - (49,661 )
At 31 March 2024 - 55,757 25 103 55,885
NET BOOK VALUE
At 31 March 2024 420,000 30,601 1,195 517 452,313
At 31 March 2023 420,000 3,920 - - 423,920

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2020 208,915 - 208,915
Valuation in 2022 77,359 - 77,359
Cost 133,726 88,198 221,924
420,000 88,198 508,198

F.T. Commercials Limited (Registered number: 01492167)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 133,726 133,726
Aggregate depreciation 52,335 49,661

Freehold land and buildings were valued on an open market basis on 22 September 2022 by Silcock & Partners, Chartered Surveyors. .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 124,711 109,985

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 74,809 49,755
Taxation and social security 16,196 18,977
Other creditors 6,683 21,666
97,688 90,398

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary shares 1 2 2

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023 335,935
Transfer (24,080 )

At 31 March 2024 311,855

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The company's parent undertaking is LW Barkers Holdings Limited. The registered office and business address of the parent undertaking is 6 Kelham Lane, Newark, NG24 1DW.