Registered number
03354786
FJ Wassell Properties Limited
Filleted Accounts
30 September 2024
FJ Wassell Properties Limited
Registered number: 03354786
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 507,000 507,000
Current assets
Debtors 4 8,265 7,604
Cash at bank and in hand 93,261 70,499
101,526 78,103
Creditors: amounts falling due within one year 5 (32,056) (36,821)
Net current assets 69,470 41,282
Net assets 576,470 548,282
Capital and reserves
Called up share capital 51 51
Revaluation reserve 6 472,795 472,795
Profit and loss account 103,624 75,436
Shareholders' funds 576,470 548,282
Number Number
Average number of employees 3 2
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
-
R Wassell
Director
Approved by the board on 26 January 2025
FJ Wassell Properties Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents gross rental income.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold buildings not provided
Fixtures, fittings, tools and equipment 10% straight line
It is company policy to maintain freehold buildings in good repair, such that their residual values are at least equal to book values. Having regard to this, it is the opinion of the directors that depreciation on any such buildings, as required by the Companies Act and financial reporting standards, would not be material.

The directors annually review the value of the properties.
Debtors
Short term debtors include prepayments and rents owed.
Creditors
Short term creditors are accruals at invoice price, corporation tax owed and amounts owed to directors.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 507,000 9,397 516,397
At 30 September 2024 507,000 9,397 516,397
Depreciation
At 1 October 2023 - 9,397 9,397
At 30 September 2024 - 9,397 9,397
Net book value
At 30 September 2024 507,000 - 507,000
At 30 September 2023 507,000 - 507,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 34,205 34,205
Cumulative depreciation based on historical cost - -
34,205 34,205
4 Debtors 2024 2023
£ £
Other debtors 8,265 7,604
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 9,380 8,964
Other creditors 22,676 27,857
32,056 36,821
6 Revaluation reserve 2024 2023
£ £
At 1 October 2023 472,795 472,795
At 30 September 2024 472,795 472,795
7 Loans to directors
B/fwd Paid Repaid C/fwd
£ £ £ £
R. Wassell
Loan account (8,575) 2,247 (17,817) (24,145)
(8,575) 2,247 (17,817) (24,145)
8 Other information
FJ Wassell Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Gothersley Lodge
Greensforge Lane
Stourbridge
West Midlands
DY7 5BA
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