ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 10532874

FG ASSETS LTD

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2025

FG ASSETS LTD

Report to the directors on the preparation of the unaudited statutory financial statements of Fg Assets Ltd for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fg Assets Ltd for the year ended 31 March 2025 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of directors of Fg Assets Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Fg Assets Ltd and state those matters that we have agreed to state to the Board of directors of Fg Assets Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fg Assets Ltd and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that Fg Assets Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fg Assets Ltd. You consider that Fg Assets Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Fg Assets Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Accshire Accountancy LLP

Chartered Certified Accountants

19 September 2025

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FG ASSETS LTD

Registered number: 10532874

Balance sheet

As at 31 March 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		709		947
Investments			1		1
Investment property	5		5,057,966		5,057,966
			5,058,676		5,058,914
Current assets
Debtors: amounts falling due within one year	6	902,295		878,980
Cash at bank and in hand		1,242		3,000
		903,537		881,980
Creditors: amounts falling due within one year	7	(1,060,388)		(1,061,952)
Net current liabilities			(156,851)		(179,972)
Total assets less current liabilities			4,901,825		4,878,942
Creditors: amounts falling due after more than one year	8		(4,091,983)		(4,080,753)

Net assets			809,842		798,189

Capital and reserves
Called up share capital	4	4
Profit and loss account	809,838	798,185
	809,842	798,189

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FG ASSETS LTD

Registered number: 10532874

Balance sheet (continued)

As at 31 March 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Benny Hoffman

Director

Date: 19 September 2025

The notes on pages 4 to 8 form part of these financial statements.

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FG ASSETS LTD

Notes to the financial statements

For the Year Ended 31 March 2025

1.	General information

FG Assets Limited is a company incorporated in England and Wales under the Companies Act. The principal activity of the company is that of property investment.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The following principal accounting policies have been applied:

2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.3

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

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FG ASSETS LTD

Notes to the financial statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.4

Financial instrument

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

2.5

Reserves

The company's reserves are as follows:
• Called up share capital represents the nominal value of the shares issued
• Profit and Loss Account represents cummulative profits or losses, net of dividends and other adjustments.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

FG ASSETS LTD

Notes to the financial statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.7

Turnover

Turnover represents gross rental income from the letting of property and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 0 (2024 - 0).

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 April 2024	2,951
	At 31 March 2025	2,951
	Depreciation
	At 1 April 2024	2,005
	Charge for the year on owned assets	237
	At 31 March 2025	2,242
	Net book value
	At 31 March 2025	709
	At 31 March 2024	947

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FG ASSETS LTD

Notes to the financial statements

For the Year Ended 31 March 2025

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024	5,057,966
	At 31 March 2025	5,057,966

The 2025 valuations were made by the director, on an open market value for existing use basis.

Debtors

					2025	2024
					£	£


Amounts owed by group undertakings	878,750	867,350
Other debtors	23,545	11,630
	902,295	878,980

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	10,462	7,906
Amounts owed to group undertakings	113,295	113,295
Other creditors	934,951	938,951
Accruals and deferred income	1,680	1,800
	1,060,388	1,061,952

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FG ASSETS LTD

Notes to the financial statements

For the Year Ended 31 March 2025

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	4,091,983	4,080,753
	4,091,983	4,080,753

The bank loans are secured on the company's investment properties.

Amounts falling due within one year
Bank loans	10,462	7,906
	10,462	7,906


Amounts falling due after more than 5 years
Bank loans	4,091,983	4,080,753
	4,102,445	4,088,659

10.	Controlling party

The company's parent company is Fastlodge Ltd, a company registered in England and Wales.

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