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REGISTERED NUMBER: 04854204 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

FIRETRIBE LIMITED

FIRETRIBE LIMITED (REGISTERED NUMBER: 04854204)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRETRIBE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: D Arazy
M L Wyman





SECRETARY: H Wyman





REGISTERED OFFICE: Unit 3
Delta Court
Manor Way
Borehamwood
Hertfordshire
WD6 1FJ





REGISTERED NUMBER: 04854204 (England and Wales)





ACCOUNTANTS: MGR Weston Kay LLP
Chartered Accountants
55 Loudoun Road
St John's Wood
London
NW8 0DL

FIRETRIBE LIMITED (REGISTERED NUMBER: 04854204)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Investment property 4 2,215,000 2,040,000

CURRENT ASSETS
Debtors 5 87,985 101,618
Cash at bank and in hand 16,235 32,498
104,220 134,116
CREDITORS
Amounts falling due within one
year

6

(38,130

)

(46,781

)
NET CURRENT ASSETS 66,090 87,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,281,090

2,127,335

CREDITORS
Amounts falling due after more
than one year

7

(1,246,513

)

(1,286,513

)

PROVISIONS FOR LIABILITIES 8 (138,323 ) (94,573 )
NET ASSETS 896,254 746,249

CAPITAL AND RESERVES
Called up share capital 9 610 610
Capital redemption reserve 390 390
Retained earnings 895,254 745,249
SHAREHOLDERS' FUNDS 896,254 746,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

FIRETRIBE LIMITED (REGISTERED NUMBER: 04854204)

BALANCE SHEET - continued
31 AUGUST 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2025 and were signed on its behalf by:




M L Wyman - Director



D Arazy - Director


FIRETRIBE LIMITED (REGISTERED NUMBER: 04854204)

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


1. COMPANY INFORMATION

Firetribe Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Delta Court, Manor Way, Borehamwood, Hertfordshire, WD6 1FJ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents rents receivable from tenants.

Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Where fair value cannot be achieved with undue cost or effort, investment property is accounted for as a tangible fixed asset.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit..

FIRETRIBE LIMITED (REGISTERED NUMBER: 04854204)

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


2. ACCOUNTING POLICIES - continued

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 current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 2,040,000
Revaluations 175,000
At 31 August 2024 2,215,000
NET BOOK VALUE
At 31 August 2024 2,215,000
At 31 August 2023 2,040,000

The valuation of the investment properties was made as at 31 August 2024 by the directors of the company on an open market basis. No depreciation is provided in respect of these properties.

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 904,357
Cost 1,310,643
2,215,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 87,985 101,618

Included in other debtors is an amount of £79,916 (2023: £79,916) owed by a connected company in which D Arazy and M L Wyman are both directors and shareholders. This loan is interest free and payable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 2,962 2,993
Taxation and social security 5,912 5,262
Other creditors 29,256 38,526
38,130 46,781

Included in other creditors is an amount of £20,000 (2023: £30,000) owed to a connected company in which D Arazy and M L Wyman are both directors and shareholders. This loan is interest free and payable on demand.

FIRETRIBE LIMITED (REGISTERED NUMBER: 04854204)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Other creditors 1,246,513 1,286,513

Loans totalling £1,166,513 (2023: £1,166,513) are secured against investment properties held by the company.

8. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 138,323 94,573

Deferred
tax
£   
Balance at 1 September 2023 94,573
Provided during year 43,750
Balance at 31 August 2024 138,323

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
610 Ordinary £1 610 610