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Company No: 11451842 (England and Wales)

APARTMENTS FOR FALMOUTH LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

APARTMENTS FOR FALMOUTH LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

APARTMENTS FOR FALMOUTH LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
APARTMENTS FOR FALMOUTH LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 31.08.2024 31.08.2023
£ £
Fixed assets
Investments 3 100 100
100 100
Current assets
Debtors 4 4,449,464 4,471,168
Cash at bank and in hand 3,902 2,746
4,453,366 4,473,914
Creditors: amounts falling due within one year 5 ( 1,858,710) ( 1,861,560)
Net current assets 2,594,656 2,612,354
Total assets less current liabilities 2,594,756 2,612,454
Net assets 2,594,756 2,612,454
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 2,594,656 2,612,354
Total shareholder's funds 2,594,756 2,612,454

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Apartments for Falmouth Limited (registered number: 11451842) were approved and authorised for issue by the Director on 13 May 2025. They were signed on its behalf by:

Mr P Chen
Director
APARTMENTS FOR FALMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
APARTMENTS FOR FALMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Apartments for Falmouth Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp Chy Nyverow, Newham Road, Truro, TR1 2DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.08.2024
Period from
01.01.2023 to
31.08.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Fixed asset investments

Investments in subsidiaries

31.08.2024
£
Cost
At 01 September 2023 100
At 31 August 2024 100
Carrying value at 31 August 2024 100
Carrying value at 31 August 2023 100

4. Debtors

31.08.2024 31.08.2023
£ £
Amounts owed by Group undertakings 4,449,464 4,456,594
Other debtors 0 14,574
4,449,464 4,471,168

5. Creditors: amounts falling due within one year

31.08.2024 31.08.2023
£ £
Amounts owed to Group undertakings 1,851,207 1,851,207
Accruals 2,400 5,250
Other creditors 5,103 5,103
1,858,710 1,861,560

6. Called-up share capital

31.08.2024 31.08.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

The Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.