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REGISTERED NUMBER: 04390875 (England and Wales)













FT PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






FT PROPERTIES LIMITED (REGISTERED NUMBER: 04390875)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


FT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T E Quinlivan
F Quinlivan





SECRETARY: F Quinlivan





REGISTERED OFFICE: 255 Green Lanes
Palmers Green
London
N13 4XE





REGISTERED NUMBER: 04390875 (England and Wales)





ACCOUNTANTS: John Crook & Partners
Chartered Accountants
255 Green Lanes
Palmers Green
London
N13 4XE

FT PROPERTIES LIMITED (REGISTERED NUMBER: 04390875)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 419 559

CURRENT ASSETS
Stocks 5 - 10,000
Debtors 6 70,709 58,929
Cash at bank 260 708
70,969 69,637
CREDITORS
Amounts falling due within one year 7 11,943 11,756
NET CURRENT ASSETS 59,026 57,881
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,445

58,440

PROVISIONS FOR LIABILITIES 8 77 103
NET ASSETS 59,368 58,337

CAPITAL AND RESERVES
Called up share capital 9 12 12
Retained earnings 59,356 58,325
SHAREHOLDERS' FUNDS 59,368 58,337

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 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.

FT PROPERTIES LIMITED (REGISTERED NUMBER: 04390875)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:




T E Quinlivan - Director



F Quinlivan - Director


FT PROPERTIES LIMITED (REGISTERED NUMBER: 04390875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

FT Properties Limited 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 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

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, apart from long term work in progress which includes the relevant proportion of profit.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Completed work for which invoices had not been rendered at the date of the balance sheet is included at full selling price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

FT PROPERTIES LIMITED (REGISTERED NUMBER: 04390875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are capitalised at cost with an equivalent liability categorised under creditors due within or after one year. The total finance charges are allocated over the period of the lease in such a way as to give a reasonably constant charge on the outstanding liability.

Assets held under operating leases are not capitalised and leasing payments are allocated to accounting periods as they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 28,119 6,845 34,964
DEPRECIATION
At 1 April 2023 27,823 6,582 34,405
Charge for year 74 66 140
At 31 March 2024 27,897 6,648 34,545
NET BOOK VALUE
At 31 March 2024 222 197 419
At 31 March 2023 296 263 559

5. STOCKS
2024 2023
£    £   
Work-in-progress - 10,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,628 4,628
Directors' current accounts 65,544 53,900
Value added tax 243 -
Prepayments 294 401
70,709 58,929

FT PROPERTIES LIMITED (REGISTERED NUMBER: 04390875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 883 1,014
Corporation tax 5,074 7,931
Value added tax - 2,010
Other creditors 5,986 801
11,943 11,756

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 77 103

Deferred
tax
£   
Balance at 1 April 2023 103
Capital allowances (26 )
Balance at 31 March 2024 77

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12 Ordinary £1 12 12

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
T E Quinlivan
Balance outstanding at start of year 26,950 6,416
Amounts advanced 32,772 20,534
Amounts repaid (26,950 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,772 26,950

F Quinlivan
Balance outstanding at start of year 26,950 6,416
Amounts advanced 32,772 20,534
Amounts repaid (26,950 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,772 26,950

FT PROPERTIES LIMITED (REGISTERED NUMBER: 04390875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. RELATED PARTY DISCLOSURES

T Quinlivan is a director and shareholder in GQ Properties Ltd

Work in the ordinary course of business was invoiced in the sum of £12,000 ( 2023 £32,700). £2,055 was owing to the company at 31 March 2024 ( 2023 £2,055). There was also work in progress at 31 March 2024 of £Nil (2023 £10,000)

T Quinlivan is also a director and shareholder of Alwest Developments Limited. £2,400 was owing to the company at 31 March 2024 (2023 £2,400).