Registered number
SC533691
Telford Place Properties Limited
Filleted Accounts
31 January 2022
Telford Place Properties Limited
Registered number: SC533691
Balance Sheet
as at 31 January 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 198,678 199,284
Current assets
Cash at bank and in hand 16,496 17,031
Creditors: amounts falling due within one year 4 (99,879) (99,802)
Net current liabilities (83,383) (82,771)
Total assets less current liabilities 115,295 116,513
Creditors: amounts falling due after more than one year 5 (93,935) (104,322)
Net assets 21,360 12,191
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,260 12,091
Shareholders' funds 21,360 12,191
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 accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Brian Bryce
Director
Approved by the board on 5 September 2022
Telford Place Properties Limited
Notes to the Accounts
for the year ended 31 January 2022
1 Accounting policies
Basis of preparation
The accounts 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 February 2021 196,856 3,034 199,890
At 31 January 2022 196,856 3,034 199,890
Depreciation
At 1 February 2021 - 606 606
Charge for the year - 606 606
At 31 January 2022 - 1,212 1,212
Net book value
At 31 January 2022 196,856 1,822 198,678
At 31 January 2021 196,856 2,428 199,284
4 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 14,688 12,903
Trade creditors 1,848 1,848
Taxation and social security costs 3,729 1,493
Other creditors 79,614 83,558
99,879 99,802
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 93,935 104,322
6 Other information
Telford Place Properties Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
17 Flowerhill Street
Airdrie
ML6 6AP
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