REGISTERED NUMBER: 08265551 (England and Wales)

FTC PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I H Smith

Mrs E J Smith

REGISTERED OFFICE:

Suite D, The Business Centre

Faringdon Avenue

Romford

Essex

RM3 8EN

REGISTERED NUMBER:

08265551 (England and Wales)

ACCOUNTANTS:

Clay Ratnage Daffin & Co Limited

Chartered Accountants

Suite D, The Business Centre

Faringdon Avenue

Romford

Essex

RM3 8EN

FIXED ASSETS

Investment property

4

140,000

140,000

CURRENT ASSETS

Debtors

5

237

225

Cash at bank and in hand

16,580

12,078

16,817

12,303

CREDITORS

Amounts falling due within one year

6

60,326

60,139

NET CURRENT LIABILITIES

(43,509

)

(47,836

)

TOTAL ASSETS LESS CURRENT LIABILITIES

96,491

92,164

CREDITORS

Amounts falling due after more than one year

7

(11,730

)

(19,001

)

PROVISIONS FOR LIABILITIES

9

(4,516

)

(4,516

)

NET ASSETS

80,245

68,647

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

10

13,550

13,550

Retained earnings

10

66,595

54,997

80,245

68,647

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 17 April 2026 and were signed on its behalf by:

I H Smith - Director

Mrs E J Smith - Director

1.	STATUTORY INFORMATION

FTC Properties 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.

Turnover

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

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Classification of financial liabilities: Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

and 31 August 2025

140,000

NET BOOK VALUE

At 31 August 2025

140,000

At 31 August 2024

140,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

237

225

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

7,271

6,859

Taxation and social security

2,721

2,955

Other creditors

50,334

50,325

60,326

60,139

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

11,730

19,001

Details of security provided:

The bank facility is secured by:

Debenture dated 11 December 2012 over all assets of the company;

Legal charge dated 5 February 2013 over the freehold investment property held by FTC Properties Limited in favour of Lloyds Bank Plc.

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loan due in 1 yr

7,271

6,859

Amounts falling due between one and two years:

Bank loans - 1-2 years

7,270

7,270

Amounts falling due between two and five years:

Bank loans - 2-5 years

4,460

11,731

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Revaluation of investment

property

4,516

4,516

4,516

4,516

Deferred

tax

£

Balance at 1 September 2024

4,516

Balance at 31 August 2025

4,516

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 September 2024

54,997

13,550

68,547

Profit for the year

11,598

11,598

At 31 August 2025

66,595

13,550

80,145

11.	RELATED PARTY DISCLOSURES

2025

2024

£

£

Rent received from connected company

19,500

19,500

Amount due to connected company

47,013

47,013