FRANCES BAKER PROPERTY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2020
Company Registration Number SC608158 (Scotland)
PAGES FOR FILING WITH REGISTRAR
FRANCES BAKER PROPERTY LTD
BALANCE SHEET
AS AT
31 JANUARY 2020
31 January 2020
- 1 -
2020
£
£
Fixed assets
636,929
Current assets
30,802
Creditors: amounts falling due within one year
(2,220)
Net current assets
28,582
Total assets less current liabilities
665,511
Creditors: amounts falling due after more than one year
(739,756)
Net liabilities
(74,245)
Capital and reserves
(74,245)
Notes to the financial statements
1
Financial commitments, guarantees and contingencies
Commercial mortgages totalling £306,740 are secured over certain of the company's properties.
2
Employees
The average number of persons
,
including directors
,
employed by the company during the period wa
s as follows:
2020
Number
Employees
-
3
Related party transactions
'Creditors: amounts falling due after more than one year' includes £433,017 due to one of the directors in respect of property purchases and working capital advances. There are no fixed terms for the repayment of this amount, which does not bear interest.
4
Accounting period
The company was incorporated on 14 September 2018 and these financial statements are therefore in respect of a 17 month period. Rental income was first generated in November 2019.
At the date on which the financial statements were approved, the financial implications arising from the Coronavirus (Covid-19) outbreak, which has affected the UK, are uncertain.
At this stage it is unclear how the pandemic will affect property values or rental revenues, however t
he director
s have prepared
forecasts for an anticipated change in the company’s operational activities in the short term
and are satisfied that the company remains a going concern.
FRANCES BAKER PROPERTY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2020
31 January 2020
- 2 -
Frances Baker Property Ltd is a private company limited by shares incorporated in Scotland. The registered office is Flat 2/2, 10 Roxburgh Street, Glasgow, G12 9AP.
For the period ended 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 May 2020 and are signed on its behalf by:
Ms Frances A Baker
Director
Company Registration Number SC608158