RREGISTERED NUMBER:
For the Year Ended 28 February 2025
Fajita Properties Limited (Registered number: 13200440)
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Registered number | 13200440 |
Fajita Properties Limited
Contents
for the year ended 28 February 2025
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Statement of comprehensive income | 4 |
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Statement of financial position | 5 - 6 |
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Notes to the financial statements | 7 - 10 |
Fajita Properties Limited
Statement of Financial Position
as at 28 February 2025
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Fixed assets |
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Investment Property | 5 | ||
Tangible assets | 6 | ||
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Current assets |
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Debtors | 7 | ||
Cash at bank and in hand | 8 | ||
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Creditors: amounts falling due within one year | 9 | ( | ( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 10 | ( | ( |
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Provisions for liabilities |
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Deferred tax |
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Net assets |
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Capital and Reserves |
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Called up share capital |
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Retained earnings |
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Shareholders’ funds |
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The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025
The director acknowledges his 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 Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statement, so far as applicable to the company. |
Fajita Properties Limited
Statement of Financial Position – continued
as at 28 February 2025
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 Statement of Comprehensive Income has not been delivered.
The financial statements were approved by
R Turner – Director
Fajita Properties Limited
Notes to the Financial Statements
for the year ended 28 February 2025
1. Statutory information
Fajita Properties Limited is a private company, limited by shares, registered in
The principle activity of the company is buying, selling and letting of real estate.
2. Accounting policies
Basis of preparation of financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
The company recognises revenue when the amount of revenue can be measured reliably, when it is probably that future economic benefits will flow to the entity.
Investment property
Investment property is carried at cost. No deprecation is provided.
Tangible fixed assets
Fixtures, fittings & equipment | over |
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measure at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transactions costs and subsequently measured at amortised cost determined using the effective interest method.
Fajita Properties Limited
Notes to the Financial Statements (continued)
for the year ended 28 February 2025
2. Accounting policies (continued)
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 the 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 loses 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.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3. Turnover
The company's turnover is derived from its principal activity. Turnover principally arises in the United Kingdom.
4. Employees
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Average number of persons employed by the company |
Fajita Properties Limited
Notes to the Financial Statements (continued)
for the year ended 28 February 2025
5. Investment Property
| Investment |
| Property |
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Cost |
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At 1 March 2024 | |
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At 28 February 2025 | |
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Net book value |
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At 28 February 2025 |
6. Tangible fixed assets
| Fixtures |
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Cost |
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At 1 March 2024 | |
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At 28 February 2025 | |
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Depreciation |
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Charge for the year | |
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At 29 February 2025 | |
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Net book value |
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At 28 February 2025 | |
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At 29 February 2024 |
7. Debtors
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Prepayments | ||
Other Debtors | - | |
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| 38,370 | |
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Fajita Properties Limited
Notes to the Financial Statements (continued)
for the year ended 28 February 2025
8. Cash
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Cash at bank and at hand | ||
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9. Creditors: amounts falling due within one year
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Accruals | ||
Corporation tax | ||
Other creditors | ||
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10. Creditors: amounts falling due after more than one year
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Bank loan | ||
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12. Related party disclosure
At the year end the company owed the directors £94,378.
The directors have a personal guarantee over the bank loan of £190,347.
13. Ultimate controlling party