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REGISTERED NUMBER: SC223111 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

FJE Property Investments Limited

FJE Property Investments Limited (Registered number: SC223111)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FJE Property Investments Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: F J Esposito



REGISTERED OFFICE: 61 Lorne Street
Dundee
DD2 3HE



REGISTERED NUMBER: SC223111 (Scotland)



ACCOUNTANTS: HMR Consulting Limited
Kirk Farm Cottage
Lundie
Dundee
Angus
DD2 5NW



SOLICITORS: BTO Solicitors LLP
One Edinburgh Quay
133 Fountainbridge
Edinburgh
EH3 9QG

FJE Property Investments Limited (Registered number: SC223111)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6 6
Investment property 5 3,980,796 3,675,000
3,980,802 3,675,006

CURRENT ASSETS
Debtors 6 3,013 4,314
Cash at bank 304,214 299,978
307,227 304,292
CREDITORS
Amounts falling due within one year 7 1,823,464 446,801
NET CURRENT LIABILITIES (1,516,237 ) (142,509 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,464,565

3,532,497

CREDITORS
Amounts falling due after more than one
year

8

(687,963

)

(1,810,619

)

PROVISIONS FOR LIABILITIES (211,476 ) (153,840 )
NET ASSETS 1,565,126 1,568,038

CAPITAL AND RESERVES
Called up share capital 10 1,036 1,036
Share premium 26,064 26,064
Revaluation reserve 1,233,849 1,233,849
Retained earnings 304,177 307,089
SHAREHOLDERS' FUNDS 1,565,126 1,568,038

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

FJE Property Investments Limited (Registered number: SC223111)

Balance Sheet - continued
30 June 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 23 March 2025 and were signed by:





F J Esposito - Director


FJE Property Investments Limited (Registered number: SC223111)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

FJE Property Investments Limited is a private company, limited by shares , registered in Scotland. 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 is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Rendering of services:
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:

Fixtures and Fittings - 15% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss account.

Revaluation of tangible fixed assets:

Individual freehold and leasehold properties are carried at current year fair value at the date of the revaluation less any subsequent accummulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Statement of financial position date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in the Profit and Loss account unless losses exceed previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

FJE Property Investments Limited (Registered number: SC223111)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss account.

Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position date, except that
balance sheet
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired andthe amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard on 1 July 2016 to continue to be charged over the period to hte first market rent review rather than the term of the lease.

Borrowing costs
All borrowing costs are recognised in the Profit and Loss account in the year in which they are incurred.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a leagl or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Profit and Loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

FJE Property Investments Limited (Registered number: SC223111)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 6,926
DEPRECIATION
At 1 July 2023
and 30 June 2024 6,920
NET BOOK VALUE
At 30 June 2024 6
At 30 June 2023 6

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 3,675,000
Additions 305,796
At 30 June 2024 3,980,796
NET BOOK VALUE
At 30 June 2024 3,980,796
At 30 June 2023 3,675,000

The valuations at the year end were made by the director on an open market value for existing use basis.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors (575 ) 1,422
Other debtors 3,588 2,892
3,013 4,314

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 1,470,174 94,811
Trade creditors 600 1,285
Taxation and social security 19,917 22,061
Other creditors 332,773 328,644
1,823,464 446,801

FJE Property Investments Limited (Registered number: SC223111)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 687,963 1,810,619

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 2,158,137 1,905,430

A standard security over the company property exists in favour of Bank of Scotland.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1,036 Ordinary £1 1,036 1,036