Registered number
11140436
Fast Property Investment and Trading Limited
Filleted Accounts
31 December 2024
Fast Property Investment and Trading Limited
Registered number: 11140436
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Current assets
Stocks 1,713,590 1,530,263
Debtors 3 65,356 63,750
Cash at bank and in hand 30,057 63,101
1,809,003 1,657,114
Creditors: amounts falling due within one year 4 (34,461) (85,195)
Net current assets 1,774,542 1,571,919
Total assets less current liabilities 1,774,542 1,571,919
Creditors: amounts falling due after more than one year 5 (1,598,685) (1,426,066)
Net assets 175,857 145,853
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 174,857 144,853
Shareholder's funds 175,857 145,853
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Simpson
Director
Approved by the board on 03.04.25
Fast Property Investment and Trading Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the net value of property transactions and renovations etc, incurred in connection therewith.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 1
3 Debtors 2024 2023
£ £
Other debtors 65,356 63,750
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,089 4,469
Taxation and social security costs 12,618 19,963
Other creditors 15,754 60,763
34,461 85,195
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,598,685 1,426,066
6 Other information
Fast Property Investment and Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
98 Lawn Avenue
Great Yarmouth
Morfolk
NR30 1QW
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