Registered number
05318942
Theori Property Management Limited
Unaudited Filleted Accounts
28 February 2022
Theori Property Management Limited
Registered number: 05318942
Balance Sheet
as at 28 February 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 5,250,000 4,250,000
Investments 4 100 100
5,250,100 4,250,100
Current assets
Debtors 5 306,032 307,231
Cash at bank and in hand 24,723 24,988
330,755 332,219
Creditors: amounts falling due within one year 6 (1,166,514) (1,160,044)
Net current liabilities (835,759) (827,825)
Total assets less current liabilities 4,414,341 3,422,275
Creditors: amounts falling due after more than one year 7 (1,242,324) (1,326,208)
Provisions for liabilities 9 (600,833) (350,833)
Net assets 2,571,184 1,745,234
Capital and reserves
Called up share capital 120 120
Non-distributable reserves 1,802,501 1,052,501
Profit and loss account 768,563 692,613
Shareholders' funds 2,571,184 1,745,234
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
Theori Property Management Ltd has not prepared the group accounts as it is small group and exempt to prepare group accounts.
The financial statements were approved and authorised for issue by the board on:
Mandeep Binning
Director
Signed on behalf of the board on 12 May 2022
Theori Property Management Limited
Notes to the Accounts
for the year ended 28 February 2022
1 Accounting policies
Basis of preparation
Theori Property Management Limited is a company limited by shares incorporated in England within the United Kingdom. The registration number and the address of the registered office and principle place of business is given in the company information on page 1 of these financial statements.

The financial statements cover the individual entity, are presented in sterling which is the functional currency of the company and are not rounded.

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The significant accounting policies applied in the preparation of these financial statements are set out below.
Turnover
Turnover represents the net value of rent received as per rental agreement.
Investments Properties
Investment properties are stated at fair market valuations. Surplus or deficits arising on the revaluation are transferred to the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Investment in subsidiaries
Investment in subsidiary undertaking is recognised at cost.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2021 4,250,000
Surplus on revaluation 1,000,000
At 28 February 2022 5,250,000
Depreciation
At 28 February 2022 -
Net book value
At 28 February 2022 5,250,000
At 28 February 2021 4,250,000
Freehold land and buildings: 2022 2021
£ £
Historical cost 2,846,666 2,846,666
Cumulative depreciation based on historical cost - -
2,846,666 2,846,666
The valuation of properties has been carried out by the directors of the company and reflects the fair market value at the balance sheet date.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 March 2021 100
At 28 February 2022 100
5 Debtors 2022 2021
£ £
Trade debtors 18,894 -
Other debtors 287,138 307,231
306,032 307,231
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 81,480 78,051
Accruals 3,420 3,420
Directors' accounts 41,860 41,861
Trade creditors 5,605 -
Amounts owed to group undertaking 88,487 76,379
Taxation and social security costs 72,641 72,951
Other creditors 873,021 887,382
1,166,514 1,160,044
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 1,242,324 1,326,208
8 Loans 2022 2021
£ £
Creditors include:
Instalments falling due for payment after more than five years 916,595 1,013,967
Secured bank loans 1,323,320 1,404,222
The bank loans are secured against the properties and personal quaranties are given by the directors.
9 Deferred Tax 2022 2021
£ £
At 1 March 350,833 238,567
Changes in tax rates 250,000 112,266
600,833 350,833
10 Related party transactions 2022 2021
£ £
Amounts owed to group undertaking 88,487 76,379
Loans from directors 41,861 41,861
Other related parties
Amount due to related parties 881,882 887,382
Amount due by related parties 267,298 270,798
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