Company Registration No. 05042208 (England and Wales)
Fruition Properties Limited
Unaudited accounts
for the year ended 31 March 2023
Fruition Properties Limited
Unaudited accounts
Contents
Fruition Properties Limited
Company Information
for the year ended 31 March 2023
Directors
Manish Khiroya
Parul Scampion
Company Number
05042208 (England and Wales)
Registered Office
31-35 Kirby Street
London
EC1N 8TE
United Kingdom
Fruition Properties Limited
Statement of financial position
as at 31 March 2023
Tangible assets
4,687
4,597
Investments
1,053,087
1,179,311
Cash at bank and in hand
20,233
135,599
Creditors: amounts falling due within one year
(2,568,645)
(1,874,306)
Net current liabilities
(2,301,546)
(1,649,406)
Total assets less current liabilities
(1,243,772)
(465,498)
Creditors: amounts falling due after more than one year
(1,935,352)
(2,162,428)
Net liabilities
(3,179,124)
(2,627,926)
Called up share capital
100
100
Profit and loss account
(3,179,224)
(2,628,026)
Shareholders' funds
(3,179,124)
(2,627,926)
For the year ending 31 March 2023 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 20 December 2023 and were signed on its behalf by
Parul Scampion
Director
Company Registration No. 05042208
Fruition Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
Fruition Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 05042208. The registered office is 31-35 Kirby Street, London, EC1N 8TE, United Kingdom.
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.
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:
Computer equipment
3-year straight-line
4
Tangible fixed assets
Total
5
Transactions with related parties
At the year end, Other Creditors falling due within one year included a balance of £594,520 (2021 - £129,406) owing to Dare To Dream Limited, a company in which one of the directors has a controlling interest. This amount was subsisted to the company as bridging finance and is repayable on three months’ notice.
At the year end, Other Creditors due after more than one year included a balance of £397,500 (2022 - £200,000) owing to Scampion Investments Limited, a company in which one of the directors has a controlling interest. This amount was subsisted to the company as bridging finance and is repayable on three months’ notice.
Fruition Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
6
Average number of employees
During the year the average number of employees was 13 (2022: 13).