REGISTERED NUMBER: 01333352 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Frithgarth Properties Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J E Hall

R Hall

SECRETARY:

R Hall

REGISTERED OFFICE:

Unit 14 Finchley Avenue

Mildenhall Industrial Estate

Mildenhall

Suffolk

IP28 7BG

REGISTERED NUMBER:

01333352 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

52,305

10,036

Investment property

5

1,250,000

1,250,000

1,302,305

1,260,036

CURRENT ASSETS

Debtors

6

57,112

294,007

Cash at bank

207,179

47,715

264,291

341,722

CREDITORS

Amounts falling due within one year

7

104,334

199,809

NET CURRENT ASSETS

159,957

141,913

TOTAL ASSETS LESS CURRENT LIABILITIES

1,462,262

1,401,949

CREDITORS

Amounts falling due after more than one year

8

(115,773

)

(111,073

)

PROVISIONS FOR LIABILITIES

10

(79,865

)

(71,494

)

NET ASSETS

1,266,624

1,219,382

CAPITAL AND RESERVES

Called up share capital

11

34,313

34,313

Non distributable reserves

12

609,772

609,772

Capital redemption reserve

10,530

10,530

Retained earnings

612,009

564,767

SHAREHOLDERS' FUNDS

1,266,624

1,219,382

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

C J E Hall - Director

1.	STATUTORY INFORMATION

Frithgarth Properties Ltd 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 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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

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

Rental income received in advance is treated as deferred income and included in other creditors. Rental income received in arrears is accrued and included within prepayments and accrued income.

Tangible fixed assets

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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at fair value. Any aggregate surplus of deficit arising from changes in fair value are recognised in the profit or loss and transfered to an un-distributable reserve.

Financial instruments

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, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. 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. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Impairment policy

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

23,777

Additions

47,185

At 31 January 2025

70,962

DEPRECIATION

At 1 February 2024

13,741

Charge for year

4,916

At 31 January 2025

18,657

NET BOOK VALUE

At 31 January 2025

52,305

At 31 January 2024

10,036

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

47,185

At 31 January 2025

47,185

DEPRECIATION

Charge for year

2,407

At 31 January 2025

2,407

NET BOOK VALUE

At 31 January 2025

44,778

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

1,250,000

NET BOOK VALUE

At 31 January 2025

1,250,000

At 31 January 2024

1,250,000

Fair value at 31 January 2025 is represented by:

£

Valuation in 2008

381,266

Valuation in 2016

25,000

Valuation in 2022

275,000

Cost

568,734

1,250,000

If the investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

568,734

568,734

The investment property was valued on a fair value basis on 31 January 2022 by the Directors .

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Other debtors

57,112

237,582

Amounts falling due after more than one year:

Other debtors

-

56,425

Aggregate amounts

57,112

294,007

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

6,920

-

Taxation and social security

2,592

16,049

Other creditors

94,822

183,760

104,334

199,809

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

34,535

-

Other creditors

81,238

111,073

115,773

111,073

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

110,798

292,533

Hire purchase contracts

41,455

-

152,253

292,533

The loans are secured on the assets of the company.

Hire purchase is secured against the asset to which it relates.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

8,371

-

Property revaluation

71,494

71,494

79,865

71,494

Deferred

tax

£

Balance at 1 February 2024

71,494

Charge to Income Statement during year

8,371

Balance at 31 January 2025

79,865

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

34,313

Ordinary Shares

£1

34,313

34,313

12.

RESERVES

Non

distributable

reserves

£

At 1 February 2024

and 31 January 2025

609,772

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

2025

2024

£

£

C J E Hall

Balance outstanding at start of year

237,137

171,984

Amounts advanced

50,364

65,777

Amounts repaid

(287,501

)

(624

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

237,137