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FM PROPERTY LTD

Registered Number
09800161
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

FM PROPERTY LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

WILSON, Ffion Mair

Registered Address

Tregibby Farm
Gwbert Road
Cardigan
SA43 1PH

Registered Number

09800161 (England and Wales)
FM PROPERTY LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets39,88611,664
Investment property4700,000339,066
709,886350,730
Current assets
Debtors52,4963,080
Cash at bank and on hand10,49412,710
12,99015,790
Creditors amounts falling due within one year6(148,983)(173,135)
Net current assets (liabilities)(135,993)(157,345)
Total assets less current liabilities573,893193,385
Provisions for liabilities7(92,705)(2,216)
Net assets481,188191,169
Capital and reserves
Called up share capital100100
Profit and loss account481,088191,069
Shareholders' funds481,188191,169
The financial statements were approved and authorised for issue by the Director on 4 December 2024, and are signed on its behalf by:
WILSON, Ffion Mair
Director
Registered Company No. 09800161
FM PROPERTY LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 October 2312,80012,01324,813
At 30 September 2412,80012,01324,813
Depreciation and impairment
At 01 October 233,6269,52313,149
Charge for year1,2804981,778
At 30 September 244,90610,02114,927
Net book value
At 30 September 247,8941,9929,886
At 30 September 239,1742,49011,664
4.Investment property
Investment property has been valued based on the director's consideration of fair value.

£
Fair value at 01 October 23339,066
Fair value adjustments360,934
At 30 September 24700,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,4963,080
Total2,4963,080
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security5,1482,387
Other creditors141,117167,776
Accrued liabilities and deferred income2,7182,972
Total148,983173,135
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)92,7052,216
Total92,7052,216