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REGISTERED NUMBER: 10921191 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

TYMARIC PROPERTIES LTD

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TYMARIC PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2021







DIRECTORS: J Elliott
G P Elliott





REGISTERED OFFICE: Tyburn House
Ely Grange Estate
Frant
TN3 9DZ





REGISTERED NUMBER: 10921191 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

BALANCE SHEET
30 NOVEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,171 468
Investments 5 100,050 100,000
Investment property 6 1,650,000 1,650,000
1,751,221 1,750,468

CURRENT ASSETS
Stocks 581,054 -
Debtors 7 1,331,501 1,736,632
Cash at bank and in hand 17,929 36,396
1,930,484 1,773,028
CREDITORS
Amounts falling due within one year 8 92,121 70,614
NET CURRENT ASSETS 1,838,363 1,702,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,589,584

3,452,882

CREDITORS
Amounts falling due after more than one
year

9

(2,638,228

)

(2,811,146

)

PROVISIONS FOR LIABILITIES (96,508 ) (73,346 )
NET ASSETS 854,848 568,390

CAPITAL AND RESERVES
Called up share capital 10 60 60
Revaluation reserve 11 289,522 312,684
Retained earnings 11 565,266 255,646
SHAREHOLDERS' FUNDS 854,848 568,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

BALANCE SHEET - continued
30 NOVEMBER 2021


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 11 August 2022 and were signed on its behalf by:





J Elliott - Director


TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021


1. STATUTORY INFORMATION

Tymaric Properties Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 10921191 and registered office address is at Tyburn House, Ely Grange Estate, Frant, United Kingdom, TN3 9DZ.

Principal activity

The principal activity of the company in the year under review was that of development of commercial building projects.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from the sale of properties and profit share from company investments is recognised on completion. Rental income is recognised on a straight line basis in accordance with the terms of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.3% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

Going concern
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves, cash balances and the ongoing support of the directors, to whom the creditor due in more than one year is owed.

In their assessment of going concern the directors have considered the current and developing impact on the business as a result of the COVID19 virus. Due to the nature of the company's operations Covid19 has not had a significant impact on the results of the company but the position continues to be regularly reviewed by the directors.

Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements and thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2020 1,402
Additions 1,756
Disposals (1,402 )
At 30 November 2021 1,756
DEPRECIATION
At 1 December 2020 934
Charge for year 1,053
Eliminated on disposal (1,402 )
At 30 November 2021 585
NET BOOK VALUE
At 30 November 2021 1,171
At 30 November 2020 468

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 December 2020 100,000
Additions 50
At 30 November 2021 100,050
NET BOOK VALUE
At 30 November 2021 100,050
At 30 November 2020 100,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Marda Developments Ltd
Registered office: Birch Corner, Fern Road, Storrington, West Sussex, England, RH20 4LW
Nature of business: Buying and selling of own real estate
%
Class of shares: holding
Ordinary 50.00

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2020
and 30 November 2021 1,650,000
NET BOOK VALUE
At 30 November 2021 1,650,000
At 30 November 2020 1,650,000

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021


6. INVESTMENT PROPERTY - continued

Fair value at 30 November 2021 is represented by:
£   
Valuation in 2020 386,030
Cost 1,263,970
1,650,000

7. DEBTORS
2021 2020
£    £   
Amounts falling due within one year:
Other debtors 1,270,971 1,529,210
Prepayments and accrued income 60,530 57,422
1,331,501 1,586,632

Amounts falling due after more than one year:
Other debtors - 150,000

Aggregate amounts 1,331,501 1,736,632

As at the balance sheet date, there was a loan owing to the company included within other debtors of £410,000 (2020: £410,000). Interest is charged on the loan at 5% per annum.

As at the balance sheet date, there was a loan owing to the company included within other debtors of £710,471 (2020: £1,117,520). Interest is charged on the loan at 6% per annum.

As at the balance sheet date, there was a loan owing to the company included within other debtors of £150,000 (2020: £150,000). Interest is charged on the loan at 0.89% per month.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 2,392 22,842
Corporation tax 25,388 7,519
VAT 16,879 9,173
Other creditors 32,050 24,000
Accruals and deferred income 15,412 -
Accrued expenses - 7,080
92,121 70,614

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Directors' loan accounts 2,638,228 2,811,146

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021


10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number Class Nominal 2021 2020
Value £ £
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
10 Ordinary C £1 10 10
10 Ordinary D £1 10 10
10 Ordinary E £1 10 10
10 Ordinary F £1 10 10

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 December 2020 255,646 312,684 568,330
Profit for the year 294,458 294,458
Dividends (8,000 ) (8,000 )
Transfer of deferred tax 23,162 (23,162 ) -
At 30 November 2021 565,266 289,522 854,788

12. RELATED PARTY DISCLOSURES

As at the balance sheet date, there was an amount owed to the company directors included within creditors due after one year of £2,638,228 (2020: £2,811,146). The amount is interest free and has no repayment terms attached.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director John Elliott, by virtue of his majority shareholding of voting shares.