FLAGSHIP PROPERTY SOLUTIONS LIMITED

Company Registration Number:
SC627405 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Additional notes
Balance sheet notes

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 0 133,563
Investments: 4 1,462,650
Total fixed assets: 0 1,596,213
Current assets
Debtors: 5 3,989 137,260
Cash at bank and in hand: 506,851 155,580
Total current assets: 510,840 292,840
Creditors: amounts falling due within one year: 6 ( 132,480 ) ( 176,890 )
Net current assets (liabilities): 378,360 115,950
Total assets less current liabilities: 378,360 1,712,163
Creditors: amounts falling due after more than one year: 7 ( 7,755 ) ( 1,253,290 )
Provision for liabilities: ( 77,449 )
Total net assets (liabilities): 370,605 381,424
Capital and reserves
Called up share capital: 10 10
Other reserves: 330,177
Profit and loss account: 370,595 51,237
Total Shareholders' funds: 370,605 381,424

The notes form part of these financial statements

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 12 May 2025
and signed on behalf of the board by:

Name: David Weston
Status: Director

The notes form part of these financial statements

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents amounts receivable for rents and services net of VAT and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life: Fixture and Fittings 20%.

    Other accounting policies

    Taxation Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred Tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 275,291 275,291
Additions 750 750
Disposals ( 276,041 ) ( 276,041 )
Revaluations
Transfers
At 31 December 2024 0 0
Depreciation
At 1 January 2024 141,728 141,728
Charge for year 27,591 27,591
On disposals ( 169,319 ) ( 169,319 )
Other adjustments
At 31 December 2024 0 0
Net book value
At 31 December 2024 0 0
At 31 December 2023 133,563 133,563

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Fixed assets investments note

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 indirectly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit and loss

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Debtors

2024 2023
£ £
Trade debtors 109,950
Prepayments and accrued income 2,181 27,310
Other debtors 1,808
Total 3,989 137,260

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 22,935
Taxation and social security 127,851
Accruals and deferred income 3,835 149,711
Other creditors 794 4,244
Total 132,480 176,890

FLAGSHIP PROPERTY SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 7,755 1,253,290
Total 7,755 1,253,290