REGISTERED NUMBER: 00224534

Financial Statements

for the Year Ended 31 December 2024

for

Filross Securities Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J Glanz

Mr S M Chapman

Mr D C Agace

REGISTERED OFFICE:

Suite 301, Stanmore Business

and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

REGISTERED NUMBER:

00224534

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

Suite 301, Stanmore Business

and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

FIXED ASSETS

Property, plant and equipment

4

-

-

Investments

5

368,962

858,147

Investment property

6

5,446,250

7,650,826

5,815,212

8,508,973

CURRENT ASSETS

Debtors

7

4,273,227

3,513,500

Cash at bank

1,400,494

1,224,143

5,673,721

4,737,643

CREDITORS

Amounts falling due within one year

8

1,551,280

1,394,998

NET CURRENT ASSETS

4,122,441

3,342,645

TOTAL ASSETS LESS CURRENT LIABILITIES

9,937,653

11,851,618

PROVISIONS FOR LIABILITIES

383,508

917,483

NET ASSETS

9,554,145

10,934,135

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Share premium

9

20,000

20,000

Retained earnings

9

9,524,145

10,904,135

SHAREHOLDERS' FUNDS

9,554,145

10,934,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mr J Glanz - Director

1.	STATUTORY INFORMATION

Filross Securities Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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% Straight line

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is accounted for in the income statement. The directors consider that this policy results in the accounts showing a true and fair view. Depreciation is only one of the factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified nor quantified.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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 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.

Investments

Fixed asset investments are at the lower of cost and net realisable value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

19,049

DEPRECIATION

At 1 January 2024

and 31 December 2024

19,049

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	FIXED ASSET INVESTMENTS

Interest

in

Listed

Unlisted

associate

investments

investments

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

650,000

73,147

135,000

858,147

Additions

1,806

196,749

-

198,555

Revaluations

-

(32,840

)

(4,900

)

(37,740

)

Reclassification/transfer

(650,000

)

-

-

(650,000

)

At 31 December 2024

1,806

237,056

130,100

368,962

NET BOOK VALUE

At 31 December 2024

1,806

237,056

130,100

368,962

At 31 December 2023

650,000

73,147

135,000

858,147

Cost or valuation at 31 December 2024 is represented by:

Interest

in

Listed

Unlisted

associate

investments

investments

Totals

£

£

£

£

Valuation in 2022

-

(8,447

)

-

(8,447

)

Valuation in 2023

-

(7,556

)

-

(7,556

)

Valuation in 2024

-

(32,840

)

(4,900

)

(37,740

)

Cost

1,806

285,899

135,000

422,705

1,806

237,056

130,100

368,962

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

7,650,826

Revaluations

(2,204,576

)

At 31 December 2024

5,446,250

NET BOOK VALUE

At 31 December 2024

5,446,250

At 31 December 2023

7,650,826

In the opinion of the director, the market value of the investment properties at the year end are as follows:

Fair value at 31 December 2024 is represented by:

£

Valuation in 2007

210,000

Valuation in 2018

4,198,205

Valuation in 2024

(2,204,576

)

Cost

3,242,621

5,446,250

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,582

16,477

Other debtors

4,209,686

3,446,770

Tax

77

-

Prepayments and accrued income

60,882

50,253

4,273,227

3,513,500

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,924

-

Other creditors

7,401

-

Tax

61,339

29,263

Directors' current accounts

1,449,072

1,339,147

Accruals and deferred income

31,544

26,588

1,551,280

1,394,998

9.

RESERVES

RETAINED EARNINGS

The retained earnings of £9,524,145 (2023: £10,904,135) comprise of distributable reserves of £7,704,025 (2023: £7,413,414) and fair value reserves of £1,820,120 (2023: £3,490,721) which relate to property revaluations less related deferred tax provision.