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REGISTERED NUMBER: 12207212 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Frontier Property Management Limited

Frontier Property Management Limited (Registered number: 12207212)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Frontier Property Management Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr D M L Rupasinghe
Mr H R Rupasinghe
Mr R P Palihawadana





REGISTERED OFFICE: 11 Station Road
Harlesden
NW10 4UJ





REGISTERED NUMBER: 12207212 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Frontier Property Management Limited (Registered number: 12207212)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,496 4,370
Investment property 5 3,807,842 3,215,294
3,811,338 3,219,664

CURRENT ASSETS
Debtors 6 113,771 69,557
Cash at bank 51,780 125,709
165,551 195,266
CREDITORS
Amounts falling due within one year 7 3,975,448 3,384,058
NET CURRENT LIABILITIES (3,809,897 ) (3,188,792 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,441

30,872

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,141 30,572
SHAREHOLDERS' FUNDS 1,441 30,872

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:



Mr D M L Rupasinghe - Director


Frontier Property Management Limited (Registered number: 12207212)

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

1. STATUTORY INFORMATION

Frontier Property Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

A transfer is made from retained earnings to the non distributable reserve for the amount of any market value surplus or deficit net of deferred tax provided.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
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 tax 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Frontier Property Management Limited (Registered number: 12207212)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023
and 30 September 2024 5,463
DEPRECIATION
At 1 October 2023 1,093
Charge for year 874
At 30 September 2024 1,967
NET BOOK VALUE
At 30 September 2024 3,496
At 30 September 2023 4,370

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 3,215,294
Additions 592,548
At 30 September 2024 3,807,842
NET BOOK VALUE
At 30 September 2024 3,807,842
At 30 September 2023 3,215,294

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 62,000 65,000
Other debtors 51,771 4,557
113,771 69,557

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 133 119
Taxation and social security 34,481 8,936
Other creditors 3,940,834 3,375,003
3,975,448 3,384,058

Frontier Property Management Limited (Registered number: 12207212)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr H R Rupasinghe
Balance outstanding at start of year - -
Amounts advanced 46,085 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,085 -

Interest was charged on the director's advances at HM Revenue & Customs official rate of 2.25% per annum.

The outstanding advances were repaid within nine months of the year end.

9. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided from companies with a participating interest in Frontier Property Management Limited amounted to £3,566,097 (2023 £2,631,897).