Company Registration No. 06008410 (England and Wales)
FLC Properties Limited
Unaudited financial statements
for the year ended 31 March 2025
FLC Properties Limited
Statement of financial position
as at 31 March 2025
Investment property
3,475,000
3,475,000
Cash at bank and in hand
164,477
375,524
Creditors: amounts falling due within one year
(29,040)
(26,141)
Net current assets
142,268
354,047
Total assets less current liabilities
3,617,268
3,829,047
Creditors: amounts falling due after more than one year
(1,456,120)
(1,656,120)
Provisions for liabilities
Deferred tax
(48,193)
(48,906)
Net assets
2,112,955
2,124,021
Called up share capital
10,000
10,000
Profit and loss account
2,102,955
2,114,021
Shareholders' funds
2,112,955
2,124,021
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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2025 and were signed on its behalf by
Mrs E L Donovan
Director
Company Registration No. 06008410
FLC Properties Limited
Notes to the Accounts
for the year ended 31 March 2025
FLC Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 06008410. The registered office is Arena Business Centre, Unit 28, Block A, Holyrood Close, Poole, Dorset, BH17 7FJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents amounts receivable for rent and goods and services net of trade discounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting date. Changes in fair value are recognised in the profit and loss account.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company is reliant upon the continued support of its directors. The financial statements are prepared on a going concern basis as it is not expected that the directors will withdraw funding in the near future.
FLC Properties Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2024
3,475,000
At 31 March 2025
3,475,000
The valuations of investment properties were made as at 19 October 2022 by professional valuers, Carter Jonas. No material differences have occurred since that date. No depreciation is provided in respect of these properties.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
9,500
11,089
Other creditors
16,074
11,717
8
Creditors: amounts falling due after more than one year
2025
2024
Loans from directors
1,456,120
1,656,120
Allotted, called up and fully paid:
3,500 A Ordinary Shares of £1 each
3,500
3,500
3,500 B Ordinary Shares of £1 each
3,500
3,500
3,000 C Ordinary Shares of £1 each
3,000
3,000
FLC Properties Limited
Notes to the Accounts
for the year ended 31 March 2025
10
Operating lease commitments
2025
2024
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
7,099
11
Average number of employees
During the year the average number of employees was 2 (2024: 2).