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REGISTERED NUMBER: 09256916 (England and Wales)















FPS PROPERTY MANAGEMENT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






FPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09256916)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FPS PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr M M Palaci
Mr N Poole





REGISTERED OFFICE: Units 1 & 5 Tower Estate
Warpsgrove Lane
Chalgrove
Oxford
Oxfordshire
OX44 7XZ





REGISTERED NUMBER: 09256916 (England and Wales)





AUDITORS: Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

FPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09256916)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,351 7,161
Investment property 5 2,139,000 2,215,230
2,143,351 2,222,391

CURRENT ASSETS
Debtors 6 27,087 1,687
Cash at bank and in hand 11,668 37,711
38,755 39,398
CREDITORS
Amounts falling due within one year 7 279,110 258,128
NET CURRENT LIABILITIES (240,355 ) (218,730 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,902,996

2,003,661

CREDITORS
Amounts falling due after more than one year 8 (608,819 ) (757,820 )

PROVISIONS FOR LIABILITIES 9 (64,678 ) (81,626 )
NET ASSETS 1,229,499 1,164,215

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 10 249,900 249,900
Retained earnings 10 979,499 914,215
1,229,499 1,164,215

FPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09256916)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2025 and were signed on its behalf by:




Mr M M Palaci - Director



Mr N Poole - Director


FPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09256916)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

FPS 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

Going concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover represents rent receivable and is recognised to the extent that it is probable that the economic benefits will flow to the company and that revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery-20% on cost
Fixtures and fittings-20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset and is credited or charged to the income statement.

Investment property
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

FPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09256916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts being presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Trade and other debtors, including accrued income, which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2023 - 2 ) .

FPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09256916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 5,825 9,545 15,370
DEPRECIATION
At 1 January 2024 4,023 4,186 8,209
Charge for year 901 1,909 2,810
At 31 December 2024 4,924 6,095 11,019
NET BOOK VALUE
At 31 December 2024 901 3,450 4,351
At 31 December 2023 1,802 5,359 7,161

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 2,215,230
Additions 19,750
Revaluations (95,980 )
At 31 December 2024 2,139,000
NET BOOK VALUE
At 31 December 2024 2,139,000
At 31 December 2023 2,215,230

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2020 397,400
Valuation in 2024 (95,980 )
Cost 1,837,580
2,139,000

The Company has two investment properties. The fair value of bpth properties was arrived at on the basis of a valuation carried out by Marriotts, Commercial Property Surveyors, made on an open market value basis as at 30 January 2025.

The original combined cost of the properties including subsequent improvements was £1,837,580.

FPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09256916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,400 -
Other debtors 1,687 1,687
27,087 1,687

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 43,716 1,740
Amounts owed to group undertakings 185,355 177,955
Taxation and social security 25,604 53,113
Other creditors 24,435 25,320
279,110 258,128

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 441,819 590,820
Other creditors 167,000 167,000
608,819 757,820

The amounts owed to group undertakings represents an unsecured loan received from the parent company which is repayable in instalments and carries interest of 4% per annum. The loan is repayable by September 2028.

Other creditors comprises of an unsecured loan received from a connected company which carries interest of 4% per annum. The balance is due for repayment by December 2026.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,676 (5,419 )
Fair value adjustment to investment property 63,002 87,045
64,678 81,626

FPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09256916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 81,626
Provided during year (16,948 )
Balance at 31 December 2024 64,678

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2024 914,215 249,900 1,164,115
Profit for the year 65,284 65,284
At 31 December 2024 979,499 249,900 1,229,399

Included within retained earnings are non-distributable reserves of £238,418 (2023 £310,355) relating to the restatement at fair value of investment properties.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Hegney FCCA (Senior Statutory Auditor)
for and on behalf of Folkes Worton LLP

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

FNA UK (Compressors) Limited is 60% owned within the group. During the year, rent of £254,000 (2023 £254,000) was received from FNA UK (Compressors) Limited. At the statement of financial position date, the company owed the sum of £167,000 (2023 £167,000) to FNA UK (Compressors) Limited.

13. ULTIMATE CONTROLLING PARTY

The largest and smallest group for which consolidated financial statements are drawn up is headed by Crab Holding S.p.A. Group accounts can be obtained from 6 Via Einaudi,10070 Robassomero, Torino, Italy.