1 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,247,240 135,842 12,918 1,396,000 1,396,000 1,247,240 xbrli:pure xbrli:shares iso4217:GBP 11240376 2024-04-01 2025-03-31 11240376 2025-03-31 11240376 2024-03-31 11240376 2023-04-01 2024-03-31 11240376 2024-03-31 11240376 2023-03-31 11240376 bus:Director1 2024-04-01 2025-03-31 11240376 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 11240376 core:WithinOneYear 2025-03-31 11240376 core:WithinOneYear 2024-03-31 11240376 core:AfterOneYear 2025-03-31 11240376 core:AfterOneYear 2024-03-31 11240376 core:ShareCapital 2025-03-31 11240376 core:ShareCapital 2024-03-31 11240376 core:RetainedEarningsAccumulatedLosses 2025-03-31 11240376 core:RetainedEarningsAccumulatedLosses 2024-03-31 11240376 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 11240376 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 11240376 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 11240376 bus:SmallEntities 2024-04-01 2025-03-31 11240376 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 11240376 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 11240376 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 11240376 bus:FullAccounts 2024-04-01 2025-03-31 11240376 core:KeyManagementPersonnel 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: 11240376

Fitzpatrick Property Ltd

Filleted Unaudited Financial Statements

31 March 2025

Fitzpatrick Property Ltd

Statement of Financial Position

31 March 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 5 | 1,396,000 | 1,247,240

Current assets

Debtors | 6 | 1,666 | 21,591
Cash at bank and in hand | 2,532 | 39,877
| ------- | --------
| 4,198 | 61,468

Creditors: amounts falling due within one year | 7 | 324,991 | 222,885
| --------- | ---------
Net current liabilities | 320,793 | 161,417
| ------------ | ------------
Total assets less current liabilities | 1,075,207 | 1,085,823

Creditors: amounts falling due after more than one year | 8 | 664,871 | 687,193

Provisions | 51,340 | 50,735
| ------------ | ------------
Net assets | 358,996 | 347,895
| ------------ | ------------

Capital and reserves

Called up share capital | 100 | 100
Profit and loss account | 358,896 | 347,795
| --------- | ---------
Shareholders funds | 358,996 | 347,895
| --------- | ---------

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 comprehensive income has not been delivered.
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 members have 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Fitzpatrick Property Ltd

Statement of Financial Position (continued)

31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 8 October 2025 , and are signed on behalf of the board by:

Mrs C Fitzpatrick |
Director |

Company registration number: 11240376

Fitzpatrick Property Ltd

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 Unit 24, Pondworld Retail Park, Lynn Road, Wisbech, PE14 7DA, Cambs.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded 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. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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 debtors and creditors, loans from banks and other third parties and loans to related parties .
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: Nil).
5. Tangible assets

| Freehold property
| £
Cost or valuation |
At 1 April 2024 | 1,247,240
Additions | 135,842
Revaluations | 12,918
| ------------
At 31 March 2025 | 1,396,000
| ------------
Depreciation |
At 1 April 2024 and 31 March 2025 | –
| ------------
Carrying amount |
At 31 March 2025 | 1,396,000
| ------------
At 31 March 2024 | 1,247,240
| ------------

Included within the above are properties at a valuation of £1,396,000 (2024:£1,247,240) with an historic cost of £1,125,798 (2024:£980,216). The valuation was performed by the company director, after taking advice from a professional valuer, who believes the open market value to be the fair value.
6. Debtors

| 2025 | 2024
| £ | £
Other debtors | 1,666 | 21,591
| ------- | --------

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 10,000 | 6,999
Other creditors | 314,991 | 215,886
| --------- | ---------
| 324,991 | 222,885
| --------- | ---------

8. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 664,871 | 687,193
| --------- | ---------

9. Other financial commitments
The mortgage companies hold legal charges over the properties owned by the company. Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £34,800 (2024:£34,800 ).
10. Related party transactions
During the year the company purchased an investment property from the director for £135,000, which was the market value. The company also paid the director interest of £5608 in respect of the credit balance on their directors loan account. This was paid on normal commercial terms and rates. No transactions were undertaken with related parties such as are required to be disclosed under FRS 102 Section 1A.