ACCOUNTS - Final Accounts preparation

F&L PROPERTIES LTD - Company Information

Print Friendly Version

Registered number: 11703111

F&L PROPERTIES LTD

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 November 2021

F&L PROPERTIES LTD

Registered number: 11703111

Balance sheet

As at 30 November 2021

		2021
Note		£

Fixed assets
Investment property			472,240
			472,240
Current assets
Cash at bank and in hand	5	1,194
		1,194
Creditors: amounts falling due within one year	6	(164,679)
Net current (liabilities)/assets			(163,485)
Total assets less current liabilities			308,755
Creditors: amounts falling due after more than one year	7		(326,250)

Net (liabilities)/assets			(17,495)

Capital and reserves
Called up share capital			100
Profit and loss account			(17,595)
			(17,495)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 January 2022.

Page 1

F&L PROPERTIES LTD

Registered number: 11703111

Balance sheet (continued)

As at 30 November 2021

Mr E F Eichenstein

Director

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

Page 2

F&L PROPERTIES LTD

Notes to the financial statements

For the Year Ended 30 November 2021

1.	General information

F&L Properties Ltd is a private company limited by shares and registered in England and Wales. The
registered address is at 126 Gladesmore Road, London, N15 6TH.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.3

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

	The Company has no employees other than the directors, who did not receive any remuneration.
	The average monthly number of employees, including directors, during the year was 0.

Page 3

F&L PROPERTIES LTD

Notes to the financial statements

For the Year Ended 30 November 2021

4.	Investment property

		Freehold investment property
		£
	Valuation
	Additions at cost	472,240
	At 30 November 2021	472,240

The 2021 valuations were made by the Directors, on an open market value for existing use basis.

	If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
					2021
					£

	Historic cost	472,240
		472,240

5.	Cash and cash equivalents
		2021
		£

	Cash at bank and in hand	1,195
		1,195

6.	Creditors: Amounts falling due within one year
		2021
		£

	Other creditors	164,079
	Accruals and deferred income	600
		164,679

Page 4

F&L PROPERTIES LTD

Notes to the financial statements

For the Year Ended 30 November 2021

7.	Creditors: Amounts falling due after more than one year
		2021
		£

	Bank loans	326,250
		326,250

	The following liabilities were secured:
					2021
					£


	Bank loans	326,250
		326,250

Details of security provided:

The bank loans were secured by way of a fixed charge on the company's investment property.

8.	Loans
	Analysis of the maturity of loans is given below:
		2021
		£




	Amounts falling due after more than 5 years
	Bank loans	326,250
		326,250

Page 5