Company Registration No. 05296655 (England and Wales)
Faron Grant Associates Ltd
Unaudited accounts
for the year ended 31 March 2023
Faron Grant Associates Ltd
Unaudited accounts
Contents
Faron Grant Associates Ltd
Company Information
for the year ended 31 March 2023
Company Number
05296655 (England and Wales)
Registered Office
43 EAST STREET
BROMLEY
BR1 1QQ
ENGLAND
Accountants
McTernan Associates Ltd
Bedford Heights
Brickhill Drive
Bedford
Bedfordshire
MK41 7PH
Faron Grant Associates Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
2,225,000
2,225,000
Cash at bank and in hand
-
771
Creditors: amounts falling due within one year
(78,492)
(86,321)
Net current liabilities
(78,378)
(85,550)
Total assets less current liabilities
2,146,622
2,139,450
Creditors: amounts falling due after more than one year
(1,404,553)
(1,396,897)
Provisions for liabilities
Deferred tax
(102,853)
(102,853)
Net assets
639,216
639,700
Called up share capital
100
100
Revaluation reserve
626,137
626,137
Profit and loss account
12,979
13,463
Shareholders' funds
639,216
639,700
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 director acknowledges his 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 and authorised for issue on 23 December 2023 and were signed on its behalf by
Chris Grant
Director
Company Registration No. 05296655
Faron Grant Associates Ltd
Notes to the Accounts
for the year ended 31 March 2023
Faron Grant Associates Ltd is a private company, limited by shares, registered in England and Wales, registration number 05296655. The registered office is 43 EAST STREET, BROMLEY, BR1 1QQ, 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 the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
At 31 March 2023
2,225,000
At 31 March 2023
2,225,000
At 31 March 2022
2,225,000
The properties were valued as of 31 March 2020 at £2,225,000 by the directors taking into account the condition of the properties and length of leases remaining. This is no change to the previous revaluation as of 31 March 2019.
Faron Grant Associates Ltd
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,318
-
Taxes and social security
3,680
183
Loans from directors
71,494
86,138
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,404,553
1,396,897
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).