F&T Plymouth Properties Ltd

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

F&T Plymouth Properties Ltd

Company Information

Directors

Mr T Deacon Mr F Deacon

Company secretary

Mr T Deacon

Registered office

2nd Floor College House 17 King Edwards Road Ruislip London HA4 7AE

F&T Plymouth Properties Ltd

(Registration number: 15222203)
Statement of Financial Position as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	17,494	10,329
Investment property	5	1,853,446	1,943,446
		1,870,940	1,953,775
Current assets
Debtors	6	69,420	26,402
Cash at bank and in hand		3,367	3,282
		72,787	29,684
Creditors: Amounts falling due within one year	7	(191,300)	(852,008)
Net current liabilities		(118,513)	(822,324)
Total assets less current liabilities		1,752,427	1,131,451
Creditors: Amounts falling due after more than one year	7	(1,487,495)	(615,948)
Provisions for liabilities		(52,294)	(132,409)
Net assets		212,638	383,094
Capital and reserves
Called up share capital		2	2
Fair value reserve		607,485	622,339
Profit and loss account		(394,849)	(239,247)
Shareholders' funds		212,638	383,094

F&T Plymouth Properties Ltd

(Registration number: 15222203)
Statement of Financial Position as at 31 October 2025 (continued)

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 30 October 2026 and signed on its behalf by:
 

Mr T Deacon Company secretary and director

F&T Plymouth Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2nd Floor College House
17 King Edwards Road
Ruislip
London
HA4 7AE

Principal activity

The principal activity of the company is that of residential property letting.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The directors are of the opinion the company is a going concern with their continued support.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for rent during the year.

F&T Plymouth Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 31 October 2025 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

F&T Plymouth Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 31 October 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Depreciation method and rate for tangible assets
Asset class	Depreciation method and rate
Fixtures & fittings	25% reducing balance

Impairment

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

F&T Plymouth Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 31 October 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 November 2024	11,592	11,592
Additions	11,867	11,867
At 31 October 2025	23,459	23,459
Depreciation
At 1 November 2024	1,263	1,263
Charge for the year	4,702	4,702
At 31 October 2025	5,965	5,965
Carrying amount
At 31 October 2025	17,494	17,494
At 31 October 2024	10,329	10,329

5	Investment properties

	2025 £
At 1 November	1,943,446
Additions	2,387
Fair value adjustments	(92,387)
At 31 October	1,853,446

The investment properties have been valued by the director.

6

Debtors

	2025 £	2024 £
Trade debtors	3,373	-
Amounts owed by related parties	66,045	26,400
Other debtors	2	2
	69,420	26,402

F&T Plymouth Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 31 October 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

		2025 £	2024 £
Loans and borrowings	9	-	581,517
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	-	5,000
Accruals and deferred income		5,165	2,160
Other creditors		186,135	263,331
		191,300	852,008

Loans and borrowings due within 1 year, totalling £nil (2024: £508,367), are secured by fixed and floating charges over the investment property to which they relate.

Creditors: amounts falling due after more than one year

		2025 £	2024 £
Loans and borrowings	9	1,487,495	615,948

Loans and borrowings due after 1 year, totalling £1,487,495 (2024: £615,948), are secured by fixed and floating charges over the investment property to which they relate.

	2025 £	2024 £
Due after more than five years
After more than five years not by instalments	1,487,495	615,948

	£0.00	£0.00