REGISTERED NUMBER: |
46 FORDINGLEY ROAD FREEHOLD LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
REGISTERED NUMBER: |
46 FORDINGLEY ROAD FREEHOLD LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
46 FORDINGLEY ROAD FREEHOLD LIMITED (REGISTERED NUMBER: 10852934) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 5 |
46 FORDINGLEY ROAD FREEHOLD LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants and Tax Advisors |
Batchworth Lock House |
99 Church Street, Rickmansworth |
WD3 1JJ |
46 FORDINGLEY ROAD FREEHOLD LIMITED (REGISTERED NUMBER: 10852934) |
BALANCE SHEET |
31 JULY 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges her 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 were approved by the director and authorised for issue on |
46 FORDINGLEY ROAD FREEHOLD LIMITED (REGISTERED NUMBER: 10852934) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
46 Fordingley Road Freehold Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern basis |
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the director. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
Tangible fixed assets |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment property consist of residential property held for long-term rental yields or for capital appreciation or both, and not held for the social benefit or for use in the business. Investment property is measured at cost, including related transaction costs, on initial recognition and subsequently at fair value as at the year end, with changes in fair value recognised in profit and loss. Subsequent expenditure is capitalised to the asset's carrying value only when it is probable that future economic benefits associated with the expenditure will flow to the company. All other repairs and maintenance costs are expensed when incurred. Fair value is determined by either independent professional third party valuers or company officers, such as the directors. Depreciation is not provided in respect of the investment property. Fair value of investment property reflects, among other things, rental income from current leases and other assumptions market participants would make when pricing the property under current market conditions. |
Taxation |
The tax expense for the year comprises current and deferred tax. |
Tax is recognised in profit or loss except that a change 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. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: |
- | 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. |
Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
46 FORDINGLEY ROAD FREEHOLD LIMITED (REGISTERED NUMBER: 10852934) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Investment property has been valued internally by the director, using market values of properties of similar nature and similar location of the property. Based on these valuations a gain of £nil was recognised in the year. The assumptions used in valuing the property are supported by market evidence, and the director is confident the value of the investment property is accurately reflected above. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
At the reporting date, the amount due to the director was £119,827 (2023 - £118,565). The amount is unsecured, attracts no interest, has no fixed terms of repayment and is considered to be long-term in nature. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
46 FORDINGLEY ROAD FREEHOLD LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 46 Fordingley Road Freehold Limited for the year ended 31 July 2024 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of 46 Fordingley Road Freehold Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 46 Fordingley Road Freehold Limited and state those matters that we have agreed to state to the director of 46 Fordingley Road Freehold Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 46 Fordingley Road Freehold Limited and its director for our work or for this report. |
It is your duty to ensure that 46 Fordingley Road Freehold Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 46 Fordingley Road Freehold Limited. You consider that 46 Fordingley Road Freehold Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of 46 Fordingley Road Freehold Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants and Tax Advisors |
Batchworth Lock House |
99 Church Street, Rickmansworth |
WD3 1JJ |