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Registration number: 06060517

Freehold Properties 38 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Freehold Properties 38 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Freehold Properties 38 Limited

Company Information

Directors

R Steinhouse

M Hayman

J Jackson-Shilling

D I Pither

Company secretary

J Jackson-Shilling

Registered office

Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

Accountants

Landmark Accountants Limited Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

 

Freehold Properties 38 Limited

(Registration number: 06060517)
Balance Sheet as at 31 October 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Investments

4

 

992

 

1,211

Current assets

   

 

Stocks

5

2

 

-

 

Debtors

6

1,873,896

 

2,256,255

 

 

1,873,898

 

2,256,255

 

Creditors: Amounts falling due within one year

7

(1,485,141)

 

(2,198,026)

 

Net current assets

   

388,757

 

58,229

Net assets

   

389,749

 

59,440

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

389,649

 

59,340

 

Total equity

   

389,749

 

59,440

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 

.........................................
M Hayman
Director

 

Freehold Properties 38 Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Tax

The tax expense for the period comprises tax together with the value of tax losses surrendered or relieved as appropriate, charged on a £1 for £1 basis. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Freehold Properties 38 Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Investments

2024
£

2023
£

Investments in subsidiaries

992

1,211

Subsidiaries

£

Cost or valuation

At 1 November 2023

1,211

At 31 October 2024

1,211

Impairment

Impairment charge

219

At 31 October 2024

219

Carrying amount

At 31 October 2024

992

At 31 October 2023

1,211

 

Freehold Properties 38 Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

5

Stocks

2024
£

2023
£

Other inventories

2

-

6

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings

8

1,864,506

2,242,098

Other debtors

 

9,390

14,157

 

1,873,896

2,256,255

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

5,832

Amounts owed to group undertakings

8

12,473

672,636

Other creditors

 

1,472,668

1,519,558

 

1,485,141

2,198,026

8

Related party transactions

The company has taken advantage of the exemption under FRS 102 Section 1AC.35 from disclosing transactions with other group companies wholly owned within the group.

At the year end, the company owed £463,252 (2023 - £525,652) to its directors. The amount is interest free and payable on demand.