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COMPANY REGISTRATION NUMBER: 13303273
Firmack Homes Limited
Unaudited Abridged Financial Statements
31 March 2024
Firmack Homes Limited
Abridged Financial Statements
Year ended 31 March 2024
Contents
Page
Director's report
1
Abridged statement of income and retained earnings
2
Abridged statement of financial position
3
Notes to the abridged financial statements
4
Firmack Homes Limited
Director's Report
Year ended 31 March 2024
The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 March 2024 .
Director
The director who served the company during the year was as follows:
Mr K Loughnane
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 28 March 2025 and signed on behalf of the board by:
Mr K Loughnane
Director
Firmack Homes Limited
Abridged Statement of Income and Retained Earnings
Year ended 31 March 2024
2024
2023
Note
£
£
Gross profit
Administrative expenses
856
360
----
----
Operating loss
( 856)
( 360)
----
----
Loss before taxation
( 856)
( 360)
Tax on loss
----
----
Loss for the financial year and total comprehensive income
( 856)
( 360)
----
----
Retained losses at the start of the year
( 1,480)
( 1,120)
-------
-------
Retained losses at the end of the year
( 2,336)
( 1,480)
-------
-------
All the activities of the company are from continuing operations.
Firmack Homes Limited
Abridged Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Stocks
900,583
848,746
Creditors: amounts falling due within one year
902,918
850,225
---------
---------
Net current liabilities
2,335
1,479
-------
-------
Total assets less current liabilities
( 2,335)
( 1,479)
-------
-------
Net liabilities
( 2,335)
( 1,479)
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 2,336)
( 1,480)
-------
-------
Shareholders deficit
( 2,335)
( 1,479)
-------
-------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr K Loughnane
Director
Company registration number: 13303273
Firmack Homes Limited
Notes to the Abridged Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, GL51 6TQ.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Although there is a balance sheet deficit, the company is holding work-in-progress for resale which will only yield a profit once sold. The company is being supported by an associated company under common control which is financing the company's operations and ensuring it can pay its debts as they fall due. The accounts are therefore prepared on a going concern basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Average number of employees
The company had no employees during the current and preceding period.
5. Related party transactions
As at the balance sheet date, the company owed a company under common control £900,583 (2023: £848,746). This loan has no fixed repayment terms.