REGISTERED NUMBER: 15470828 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

7 FEBRUARY 2024 TO 31 MARCH 2025

FOR

FIC PROP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S D Main

REGISTERED OFFICE:

24 Stuart Road

Gravesend

Kent

DA11 0BZ

REGISTERED NUMBER:

15470828 (England and Wales)

ACCOUNTANTS:

MGR SD Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Investments

4

40,000

Investment property

5

345,000

385,000

CURRENT ASSETS

Stocks

375,031

Debtors

6

21,593

Cash at bank

637

397,261

CREDITORS

Amounts falling due within one year

7

(500,785

)

NET CURRENT LIABILITIES

(103,524

)

TOTAL ASSETS LESS CURRENT LIABILITIES

281,476

CREDITORS

Amounts falling due after more than one year

8

(250,000

)

PROVISIONS FOR LIABILITIES

(10,399

)

NET ASSETS

21,077

CAPITAL AND RESERVES

Called up share capital

11

100

Undistributable reserve

12

31,196

Retained earnings

(10,219

)

SHAREHOLDERS' FUNDS

21,077

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6 November 2025 and were signed by:

Mr S D Main - Director

1.	STATUTORY INFORMATION

Fic Prop Limited 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.

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.

The director reports net current liabilities of £103,524 at the balance sheet date. He will continue to support the company and believes that it is appropriate for the financial statements to be prepared on a going concern basis.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Properties are acquired for development and are measured at the lower of cost and net realisable value.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

40,000

At 31 March 2025

40,000

NET BOOK VALUE

At 31 March 2025

40,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Cockburn Estates Lettings Limited

Registered office: United Kingdom

Nature of business: Letting agents

%

Class of shares:

holding

Ordinary

33.33

31.3.25

31.3.24

£

£

Aggregate capital and reserves

(3,236

)

(39,633

)

Profit for the year

36,197

22,581

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

303,406

Fair value adjustment

41,594

At 31 March 2025

345,000

NET BOOK VALUE

At 31 March 2025

345,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

41,594

Cost

303,406

345,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

21,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts (see note 9)

236,250

Trade creditors

547

Other creditors

263,988

500,785

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

250,000

9.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Bank loans

236,250

10.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

236,250

The bank loans are secured by a debenture comprised of a fixed and floating charge over all company assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

10,000

Ordinary

£0.01

100

10,000 Ordinary shares of £0.01 were issued during the period for cash of £ 100 .

12.

RESERVES

Undistributable

reserve

£

Undistributable reserves

31,196

At 31 March 2025

31,196

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has provided a personal guarantee to support the bank facilities.