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Company registration number: 10700287
Flamingo Lane Properties Limited
Pages for filing with Registrar
31 March 2025
Flamingo Lane Properties Limited
Contents
Statement of financial position
Notes to the financial statements
Flamingo Lane Properties Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 637,568 637,568
_______ _______
637,568 637,568
Current assets
Debtors 6 8,695 4,915
Cash at bank and in hand 87,021 21,328
_______ _______
95,716 26,243
Creditors: amounts falling due
within one year 7 ( 64,338) ( 31,480)
_______ _______
Net current assets/(liabilities) 31,378 ( 5,237)
_______ _______
Total assets less current liabilities 668,946 632,331
Creditors: amounts falling due
after more than one year 8 - ( 109,116)
_______ _______
Net assets 668,946 523,215
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 668,846 523,115
_______ _______
Shareholder funds 668,946 523,215
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 October 2025 , and are signed on behalf of the board by:
Mr M Warcup
Director
Company registration number: 10700287
Flamingo Lane Properties Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Warcup Law Firm Ltd, Lloyds Bank Chambers, Bondgate Within, Alnwick, NE66 1TD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total value of rental income receivable during the year, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Freehold property Total
£ £
Cost
At 1 April 2024 and 31 March 2025 637,568 637,568
_______ _______
Depreciation
At 1 April 2024 and 31 March 2025 - -
_______ _______
Carrying amount
At 31 March 2025 637,568 637,568
_______ _______
At 31 March 2024 637,568 637,568
_______ _______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 1 April 2024 and 31 March 2025 637,568
_______
There has been no valuation of investment property by an independent valuer during the year.
6. Debtors
2025 2024
£ £
Trade debtors 6,505 4,815
Other debtors 2,190 100
_______ _______
8,695 4,915
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts - 22,152
Corporation tax 11,125 7,410
Social security and other taxes 1,100 948
Other creditors 52,113 970
_______ _______
64,338 31,480
_______ _______
8. Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors - 109,116
_______ _______
9. Directors advances, credits and guarantees
Within other creditors due within one year are amounts due to the director of £50,000 (2024: £nil), these are provided interest free and repayable on demand.
10. Related party transactions
During the year a loan of £110,000 was received from Warcup Law Firm Limited. This loan was subsequently written off. Warcup Law Firm Limited is controlled by Mr M Warcup .