F&P ATELIER LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11108613

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		350,000		380,000

			350,000		380,000
CURRENT ASSETS
Cash at bank and in hand		4,801		3,876

		4,801		3,876
Creditors: Amounts Falling Due Within One Year	5	(630 )		(582 )

NET CURRENT ASSETS (LIABILITIES)			4,171		3,294

TOTAL ASSETS LESS CURRENT LIABILITIES			354,171		383,294

Creditors: Amounts Falling Due After More Than One Year	6		(366,470 )		(369,688 )

NET (LIABILITIES)/ASSETS			(12,299 )		13,606

CAPITAL AND RESERVES
Called up share capital	7		1		1
Revaluation reserve	8		7,500		37,500
Profit and Loss Account			(19,800 )		(23,895 )

SHAREHOLDERS' FUNDS			(12,299)		13,606

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F&P ATELIER LIMITED

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Paul Norman

Director

1 June 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

F&P ATELIER LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11108613 . The registered office is 93 Maidstone Road, London, N11 2JS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents revenue from rental income.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold

2.5. Investment Properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.

An informal valuation, based on an current property values in the local area, was undertaken in March 2025. Following discussions with local estate agents and research on prime location, it was determined that house prices had increased and a fair value would be between £375-£390k. We have therefore an adjustment to the revaluation reserve to reflect the increase in value to £380k.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2025: NIL)

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F&P ATELIER LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Investment Property

	2026
	£
Fair Value
As at 1 April 2025	380,000
Revaluations	(30,000)

As at 31 March 2026	350,000

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

An informal valuation, based on an current property values in the local area, was undertaken in April 2026. Following discussions with local estate agents and research on prime location, it was determined that house prices have decreased and a fair value would be no more than £350k. We have therefore made an adjustment to the revaluation reserve to reflect the decrease in value to £350k.

5. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Accruals and deferred income	630	582

6. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Mortgage (Long term liabilities - creditors > 1 year)	256,875	256,875
Refundable tenant deposit	1,000	1,000
Directors loan account	108,595	111,813

	366,470	369,688

7. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	1	1

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F&P ATELIER LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 April 2025	37,500	(23,895 )
Loss for year	-	(3,504)

Net investment property revaluation reserve	(30,000 )	-

Other comprehensive income for the year	(30,000 )	-

Total comprehensive income for the year	(30,000)	(3,504 )

Transfer from revaluation reserve	-	7,599

As at 31 March 2026	7,500	(19,800 )

9. Related Party Transactions

A long term loan was provided by Fiona Gaughan to purchase the property in the amount of £109,356 in 2018. In additiion further loans were made to the company. Balance of loan as at 31/3/2026 : 107,331 (2025: £111,131). A loan was also provided during the year by Paul Norman to cover general expenses, balance of loan as at 31/3/2026: £1624 (2025: £682).

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