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Registration number: 14369028

Falmouth Property Maintenance Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Falmouth Property Maintenance Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Falmouth Property Maintenance Ltd

Company Information

Director

Christofer Howe

Registered office

11 Bonython Close
Mylor Bridge
TR11 5NF

Accountants

Julia Evans Accountants Ltd 79-81 Boslowick Road
Falmouth Road
Falmouth
Cornwall
TR11 4QD

 

Falmouth Property Maintenance Ltd

(Registration number: 14369028)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,763

2,443

Current assets

 

Debtors

5

1,988

1,588

Cash at bank and in hand

 

13,815

12,425

 

15,803

14,013

Creditors: Amounts falling due within one year

6

(6,697)

(5,784)

Net current assets

 

9,106

8,229

Total assets less current liabilities

 

18,869

10,672

Creditors: Amounts falling due after more than one year

6

(5,853)

-

Provisions for liabilities

(1,855)

(464)

Net assets

 

11,161

10,208

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

11,160

10,207

Shareholders' funds

 

11,161

10,208

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.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Falmouth Property Maintenance Ltd

(Registration number: 14369028)
Balance Sheet as at 30 September 2024

Approved and authorised by the director on 26 June 2025
 

.........................................
Christofer Howe
Director

 

Falmouth Property Maintenance Ltd

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 & Wales.

The address of its registered office is:
11 Bonython Close
Mylor Bridge
TR11 5NF

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.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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 on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

 

Falmouth Property Maintenance Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet 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

Motor vehicles

25% reducing balance

Plant and equipment

25% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently 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 profit and loss account 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Falmouth Property Maintenance Ltd

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

300

2,957

3,257

Additions

12,300

-

12,300

Disposals

(1,800)

-

(1,800)

At 30 September 2024

10,800

2,957

13,757

Depreciation

At 1 October 2023

75

739

814

Charge for the year

2,700

555

3,255

Eliminated on disposal

(75)

-

(75)

At 30 September 2024

2,700

1,294

3,994

Carrying amount

At 30 September 2024

8,100

1,663

9,763

At 30 September 2023

225

2,218

2,443

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,970

1,290

Prepayments

18

18

Other debtors

-

280

 

1,988

1,588

 

Falmouth Property Maintenance Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,558

-

Trade creditors

 

161

109

Taxation and social security

 

2,323

2,292

Accruals and deferred income

 

870

930

Other creditors

 

1,785

2,453

 

6,697

5,784

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

5,853

-

 

Falmouth Property Maintenance Ltd

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

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

5,853

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

1,558

-