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| Statement of Financial Position | 1 |
| Notes to the Financial Statements | 2—4 |
| 2024 | 2023 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| Investments | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Revaluation reserve | 9 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | 198,820 | 60,773 | |||
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| Leasehold |
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| Land & Property | |
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| Leasehold | |
| £ | |
| Cost or Valuation | |
| As at 1 September 2023 |
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| Disposals |
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| Revaluation |
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| As at 31 August 2024 |
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| Net Book Value | |
| As at 31 August 2024 |
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| As at 1 September 2023 |
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| Unlisted | |
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| £ | |
| Cost | |
| As at 1 September 2023 |
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| As at 31 August 2024 |
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| Provision | |
| As at 1 September 2023 |
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| As at 31 August 2024 |
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| Net Book Value | |
| As at 31 August 2024 |
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| As at 1 September 2023 |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors | - |
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| Prepayments and accrued income | - |
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| Amounts owed by group undertakings |
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| 2024 | 2023 | ||
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| £ | £ | ||
| Corporation tax |
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| VAT |
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| Other creditors | - |
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| Amounts owed to group undertakings |
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| Revaluation Reserve | |
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| £ | |
| Surplus on revaluation |
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| As at 31 August 2024 |
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Farago Projects Ltd
The company controls Farago Projects Ltd
During the year Farago Projects Ltd paid £7,982 (2023: £12,942) VAT on behalf of Ride The Lighting Ltd. Ride The Lighting Ltd paid £60,528 (2023: £47,961) costs for Farago Projects Ltd. Farago Projects Ltd provided £nil (2023: £1,200,000) financial assistance to Ride the Lighting Ltd. At the year end Ride The Lighting Ltd owed Farago Projects Ltd £1,816,621 (2023: £1,869,167).
Farago Property Ltd
The company controls Farago Property Ltd
During the year, the company revalued a property and subsequently transferred it to Farago Property Ltd for a consideration of £750,000, which represents the revalued amount. The revaluation was carried out in accordance with the company’s accounting policy on property valuations. At year end Farago Property Ltd owed Ride The Lighting Ltd £749,900.