Company Registration No. 5957767 (England and Wales)
Focusdeal Investments Limited
Unaudited accounts
for the year ended 31 October 2024
Focusdeal Investments Limited
Unaudited accounts
Contents
Focusdeal Investments Limited
Company Information
for the year ended 31 October 2024
Directors
Mrs Geraldine Smith
Mr Stuart Smith
Company Number
5957767 (England and Wales)
Registered Office
10 Carlton Close
London
NW3 7UA
England
Accountants
Evolve Accounting and Tax Solutions Ltd
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
Focusdeal Investments Limited
Statement of financial position
as at 31 October 2024
Investment property
635,000
735,000
Cash at bank and in hand
16,191
56,930
Creditors: amounts falling due within one year
(430,885)
(470,654)
Net current liabilities
(413,108)
(412,138)
Total assets less current liabilities
221,892
322,862
Provisions for liabilities
Deferred tax
(55,257)
(74,257)
Net assets
166,635
248,605
Called up share capital
100
100
Profit and loss account
166,535
248,505
Shareholders' funds
166,635
248,605
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2023 and were signed on its behalf by
Mrs Geraldine Smith
Director
Company Registration No. 5957767
Focusdeal Investments Limited
Notes to the Accounts
for the year ended 31 October 2024
Focusdeal Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 5957767. The registered office is 10 Carlton Close, London, NW3 7UA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover comprises rental income from property exempt from Value Added Tax.
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
Fair value at 1 November 2023
735,000
Net loss from fair value adjustments
(100,000)
At 31 October 2024
635,000
Amounts falling due within one year
Accrued income and prepayments
1,586
1,586
Focusdeal Investments Limited
Notes to the Accounts
for the year ended 31 October 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
192,000
192,000
Other creditors
146,810
157,852
Loans from directors
91,037
119,842
The company has an interest only loan of £192,000 with Cynergy bank which is renewable annually and is secured by a legal over the company and in particular one of the investment properties.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).