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COMPANY REGISTRATION NUMBER: 13664300

Fast Track Properties South Ltd

Filleted Unaudited Financial Statements

31 October 2024

Fast Track Properties South Ltd

Financial Statements

Period ended 31 October 2024

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 2

Fast Track Properties South Ltd

Statement of Financial Position

31 October 2024

| 2024 | 2023
Note | £ | £

Fixed assets

Tangible assets | 4 | 195,000 | 195,000

Current assets

Debtors | 5 | 2 | 2
Cash at bank and in hand | 77 | 1,206
| ---- | -------
| 79 | 1,208

Creditors: amounts falling due within one year | 6 | 234,231 | 230,841
| --------- | ---------
Net current liabilities | 234,152 | 229,633
| --------- | ---------
Total assets less current liabilities | ( 39,152) | ( 34,633)
| -------- | --------
Net liabilities | ( 39,152) | ( 34,633)
| -------- | --------

Capital and reserves

Called up share capital | 2 | 2
Profit and loss account | ( 39,154) | ( 34,635)
| -------- | --------
Shareholders deficit | ( 39,152) | ( 34,633)
| -------- | --------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 July 2025 , and are signed on behalf of the board by:

Miss A D Williams
Director

Company registration number: 13664300

Fast Track Properties South Ltd

Notes to the Financial Statements

Period ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8 Evegate Business Park, Station Road, Smeeth, Ashford, Kent, TN25 6SX, United Kingdom.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has been prepared on the going concern basis. The shareholders and related parties have given written confirmation of their financial support for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. For the rendering of services, revenue is recognised when the services are transferred. When the outcome of a transaction can be estimated reliably, revenue is recognised based on the stage of completion of the transaction at the end of the reporting period. If the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
3. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2023: 2 ).
4. Tangible assets

| Freehold property
| £
Cost |
At 1 November 2023 and 31 October 2024 | 195,000
| ---------
Depreciation |
At 1 November 2023 and 31 October 2024 | –
| ---------
Carrying amount |
At 31 October 2024 | 195,000
| ---------
At 31 October 2023 | 195,000
| ---------

5. Debtors

| 2024 | 2023
| £ | £
Other debtors | 2 | 2
| ---- | ----

6. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 137,904 | 147,160
Other creditors | 96,327 | 83,681
| --------- | ---------
| 234,231 | 230,841
| --------- | ---------

7. Related party transactions
At the year end, the company owed the directors £8,000. At the year end, the company owed £88,127 to a company owned by common control. No interest was charged on this loan.