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COMPANY REGISTRATION NUMBER: 03889526
TRP Properties Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2022
TRP Properties Limited
Financial Statements
Year ended 31st January 2022
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
TRP Properties Limited
Officers and Professional Advisers
Director
Miss R M Potts
Company secretary
Mr A W Streeter
Registered office
550 Valley Road
Basford
Nottingham
NG5 1JJ
Accountants
ADS Accountancy Limited
Chartered Certified Accountants
550 Valley Road
Basford
Nottingham
NG5 1JJ
Bankers
National Westminster Bank
27/28 St Peter's Hill
Grantham
Lincs
NG31 6QG
TRP Properties Limited
Statement of Financial Position
31 January 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
3
10,246
328
Current assets
Debtors
4
73,488
85,756
Cash at bank and in hand
1,797
2,259
--------
--------
75,285
88,015
Creditors: amounts falling due within one year
5
17,690
17,348
--------
--------
Net current assets
57,595
70,667
--------
--------
Total assets less current liabilities
67,841
70,995
--------
--------
Capital and reserves
Called up share capital
6
3
3
Profit and loss account
67,838
70,992
--------
--------
Shareholders funds
67,841
70,995
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31st January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 September 2022 , and are signed on behalf of the board by:
Miss R M Potts
Director
Company registration number: 03889526
TRP Properties Limited
Notes to the Financial Statements
Year ended 31st January 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year. It is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
3. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1st February 2021
2,460
2,460
Additions
10,000
10,000
--------
-------
--------
At 31st January 2022
10,000
2,460
12,460
--------
-------
--------
Depreciation
At 1st February 2021
2,132
2,132
Charge for the year
82
82
--------
-------
--------
At 31st January 2022
2,214
2,214
--------
-------
--------
Carrying amount
At 31st January 2022
10,000
246
10,246
--------
-------
--------
At 31st January 2021
328
328
--------
-------
--------
4. Debtors
2022
2021
£
£
Trade debtors
40
308
Other debtors
73,448
85,448
--------
--------
73,488
85,756
--------
--------
5. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
( 279)
( 621)
Sundry creditors
3,300
3,300
Other creditors
14,669
14,669
--------
--------
17,690
17,348
--------
--------
6. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
----
----
----
----
7. Director's advances, credits and guarantees
At the statement of financial position date the amount owed to the director was £14,669 (2021:£14,669). The directors loan is unsecured, interest free and repayable on demand.