Futures Assured Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08942853 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

FUTURES ASSURED PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S P Bonell

Mrs S Bonell

REGISTERED OFFICE:

Flat 2

Brackencliffe

1 Esplanade Crescent

Scarborough

North Yorkshire

YO11 2XB

REGISTERED NUMBER:

08942853 (England and Wales)

ACCOUNTANTS:

Marriott Gibbs Rees Wallis Limited

Chartered Certified Accountants

First Floor

Unit 4, Broadfield Court

Sheffield

South Yorkshire

S8 0XF

FIXED ASSETS

Tangible assets

4

-

Investment property

5

1,044,313

1,036,666

1,044,313

1,036,666

CURRENT ASSETS

Debtors

6

13,541

1,800

Cash at bank and in hand

10,045

67,073

23,586

68,873

CREDITORS

Amounts falling due within one year

7

2,799

109,042

NET CURRENT ASSETS/(LIABILITIES)

20,787

(40,169

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,065,100

996,497

PROVISIONS FOR LIABILITIES

48,389

NET ASSETS

1,016,711

948,108

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

8

163,837

Retained earnings

852,774

784,171

SHAREHOLDERS' FUNDS

1,016,711

948,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

Mr S P Bonell - Director

1.	STATUTORY INFORMATION

Futures Assured Properties 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

These financial statements have been prepared in accordance with the provisions of Section 1A "small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Significant judgements and estimates

The director has made key assumptions in the determination of the fair value of investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. The valuation of the property at the reporting date is stated in notes to the accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Investment property

Investment property is shown at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

330

DEPRECIATION

At 1 April 2024

and 31 March 2025

330

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,036,666

Additions

7,647

At 31 March 2025

1,044,313

NET BOOK VALUE

At 31 March 2025

1,044,313

At 31 March 2024

1,036,666

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

212,227

Cost

832,086

1,044,313

The historic cost of the investment properties included above at a valuation of £1,044,313 was £832,086 (2024 - £824,439). The depreciation on this historical cost is £nil (2024 - £nil).

The investment properties were valued at the balance sheet date by the directors who are not professionally qualified valuers. The fair value has been determined by reference to market factors including evidence of transaction prices for similar property in the location where the property is situated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

13,541

1,800

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Corporation tax

1,581

1,281

Other creditors

-

70,000

Directors' current accounts

-

36,613

Accrued expenses

1,218

1,148

2,799

109,042

8.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

163,837

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

Mr S P Bonell and Mrs S Bonell

Balance outstanding at start of year

-

Amounts advanced

39,313

-

Amounts repaid

(26,835

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

12,478

-