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Registration number: 10560874

FG Victoria House Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

FG Victoria House Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

FG Victoria House Ltd

(Registration number: 10560874)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

100

100

Current assets

 

Stocks

5

469,066

36,778,942

Debtors

6

248,449

1,366,574

Cash at bank and in hand

 

1,147,017

1,095,157

 

1,864,532

39,240,673

Creditors: Amounts falling due within one year

7

(1,212,387)

(19,028,831)

Net current assets

 

652,145

20,211,842

Total assets less current liabilities

 

652,245

20,211,942

Creditors: Amounts falling due after more than one year

7

-

(22,852,482)

Net assets/(liabilities)

 

652,245

(2,640,540)

Capital and reserves

 

Called up share capital

200

200

Retained earnings

652,045

(2,640,740)

Shareholders' funds/(deficit)

 

652,245

(2,640,540)

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.

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 22 May 2025 and signed on its behalf by:
 

.........................................
Mr SA Ismail
Director

 

FG Victoria House Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
M5 4ZG
England

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

FG Victoria House Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current tax.

The current 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.

Stocks

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.

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

100

100

Subsidiaries

£

Cost or valuation

At 1 September 2023

100

At 31 August 2024

100

Carrying amount

At 31 August 2024

100

At 31 August 2023

100

 

FG Victoria House Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

FG Victoria House Commercial Limited

Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
M5 4ZG
UK

Ordinary

100%

100%

5

Stocks

2024
£

2023
£

Work in progress

469,066

36,778,942

6

Debtors

Current

2024
£

2023
£

Amounts owed by related parties

50

-

Prepayments

48,926

353

Other debtors

199,473

1,366,221

 

248,449

1,366,574

 

FG Victoria House Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

2,011,152

Amounts owed to group undertakings

-

7,496,275

Taxation and social security

550,682

-

Other creditors

661,705

9,521,404

1,212,387

19,028,831

Included within 'Amounts owed to group undertakings' are loans in the sum of £Nil (2023: £7,496,275) which are secured on the assets of the company by a fixed and floating charge.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

22,852,482

 

FG Victoria House Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Other borrowings

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

-

22,852,482

Included within 'Other borrowings' is an amount of £Nil (2023 - £22,852,482) which is secured by a fixed and floating charge over all of the assets of the company, including the property known as Victoria House, Great Ancoats Street, Manchester, M4 7EA.

9

Parent and ultimate parent undertaking

The company's share capital is owned equally between Domis Construction Limited and Salboy Limited. In the opinion of the directors, there are no ultimate controlling parties.