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Registration number: 01835778

Flamemain Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 September 2024

 

Flamemain Limited

(Registration number: 01835778)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

534

712

Investment property

5

3,163,495

3,163,495

 

3,164,029

3,164,207

Current assets

 

Debtors

6

4,702

7,880

Cash at bank and in hand

 

66,527

51,887

 

71,229

59,767

Creditors: Amounts falling due within one year

7

(20,871)

(19,555)

Net current assets

 

50,358

40,212

Total assets less current liabilities

 

3,214,387

3,204,419

Creditors: Amounts falling due after more than one year

7

(541,000)

(541,000)

Provisions for liabilities

(358,452)

(358,351)

Net assets

 

2,314,935

2,305,068

Capital and reserves

 

Called up share capital

1,000

1,000

Fair value reserve

1,848,084

1,848,084

Profit and loss account

465,851

455,984

Shareholders' funds

 

2,314,935

2,305,068

For the financial year ending 30 September 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 in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been 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 Income Statement.

Approved and authorised by the Board on 20 June 2025 and signed on its behalf by:
 

 

Flamemain Limited

(Registration number: 01835778)
Statement of Financial Position as at 30 September 2024

.........................................

Mr R M L Handcock
Company secretary and director

 

Flamemain Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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: Midway Valley Road, Hughenden Valley, High Wycombe, Buckinghamshire, HP14 4PF.

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 entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income and expenses recharged in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Flamemain Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Observable market prices are used and adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income Statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

 

Flamemain Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

Due to the nature of the business, the average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

949

949

At 30 September 2024

949

949

Depreciation

At 1 October 2023

237

237

Charge for the year

178

178

At 30 September 2024

415

415

Carrying amount

At 30 September 2024

534

534

At 30 September 2023

712

712

5

Investment properties

2024
£

At 1 October 2016

3,163,495

The company's investment properties have not been professionally valued, however their fair values have been reviewed by the directors and they consider them to still be similar to the previous year.

6

Debtors

2024
£

2023
£

Trade debtors

556

3,665

Other debtors

500

500

Accrued income

3,646

3,715

4,702

7,880

 

Flamemain Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

-

156

Taxation and social security

4,725

3,686

Accruals and deferred income

16,136

15,673

Other creditors

10

40

20,871

19,555

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

541,000

541,000

8

Related party transactions

At the year end the company owed a total of £372,010 (2023: £372,040) to the directors. Interest was paid at market rate on the loans falling due after more than one year.

One of the company's investment properties is let to a director at below market rent.