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REGISTERED NUMBER: 09850978 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

TUNCER INVESTMENTS LTD

TUNCER INVESTMENTS LTD (REGISTERED NUMBER: 09850978)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TUNCER INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mr T Tuncer





SECRETARY:





REGISTERED OFFICE: First Floor Office
34 Great Queen Street
Covent Garden
London
WC2B 5AA





REGISTERED NUMBER: 09850978 (England and Wales)





ACCOUNTANTS: NYO Limited
First Floor Office
34 Great Queen Street
London
WC2B 5AA

TUNCER INVESTMENTS LTD (REGISTERED NUMBER: 09850978)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 72,635 7,097
Investments 5 29,500 29,500
Investment property 6 8,849,563 6,910,731
8,951,698 6,947,328

CURRENT ASSETS
Debtors 7 6,904 6,114
Cash at bank and in hand 97,202 53,492
104,106 59,606
CREDITORS
Amounts falling due within one year 8 1,224,472 812,710
NET CURRENT LIABILITIES (1,120,366 ) (753,104 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,831,332

6,194,224

CREDITORS
Amounts falling due after more than one
year

9

(5,224,699

)

(3,527,768

)

PROVISIONS FOR LIABILITIES (492,162 ) (492,162 )
NET ASSETS 2,114,471 2,174,294

CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Fair value reserve 13 2,071,599 2,071,599
Retained earnings 13 32,872 92,695
SHAREHOLDERS' FUNDS 2,114,471 2,174,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TUNCER INVESTMENTS LTD (REGISTERED NUMBER: 09850978)

BALANCE SHEET - continued
31 DECEMBER 2022


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 by the director and authorised for issue on 29 September 2023 and were signed by:





Mr T Tuncer - Director


TUNCER INVESTMENTS LTD (REGISTERED NUMBER: 09850978)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Tuncer Investments Ltd is a private company, limited by shares, registered in England. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% reducing balance

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.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

TUNCER INVESTMENTS LTD (REGISTERED NUMBER: 09850978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2022 1,651 1,299 13,620 2,665 19,235
Additions - - 90,039 - 90,039
At 31 December 2022 1,651 1,299 103,659 2,665 109,274
DEPRECIATION
At 1 January 2022 602 260 10,388 888 12,138
Charge for year 165 129 23,318 889 24,501
At 31 December 2022 767 389 33,706 1,777 36,639
NET BOOK VALUE
At 31 December 2022 884 910 69,953 888 72,635
At 31 December 2021 1,049 1,039 3,232 1,777 7,097

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2022 13,620
Additions 90,039
At 31 December 2022 103,659
DEPRECIATION
At 1 January 2022 10,388
Charge for year 23,318
At 31 December 2022 33,706
NET BOOK VALUE
At 31 December 2022 69,953
At 31 December 2021 3,232

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.12.22 31.12.21
£    £   
Luxury goods 29,500 29,500

TUNCER INVESTMENTS LTD (REGISTERED NUMBER: 09850978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 6,910,731
Additions 1,951,319
Impairments (12,487 )
At 31 December 2022 8,849,563
NET BOOK VALUE
At 31 December 2022 8,849,563
At 31 December 2021 6,910,731

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2017 721,340
Valuation in 2018 774,968
Valuation in 2019 (105,460 )
Valuation in 2021 (217,935 )
Cost 7,676,650
8,849,563

If the investment properties had not been revalued it would have been included at the following historical cost:

31.12.22 31.12.21
£    £   
Cost 7,676,650 5,737,818

Investment properties were valued on an open market basis on 31 December 2022 by the Director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts recoverable on contract 2,000 -
Related Party - Tuncer
Construction Ltd 1,507 5,814
Prepayments and accrued income 3,397 300
6,904 6,114

TUNCER INVESTMENTS LTD (REGISTERED NUMBER: 09850978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts (see note 10) 330,000 -
Other loans (see note 10) 757,675 754,675
Hire purchase contracts 7,588 4,369
Payments on account 48,344 4,785
Trade creditors 40,644 28,654
Tax 12,872 12,318
Social security and other taxes 2,095 140
Net salaries 6,167 4,829
Accruals and deferred income 16,147 -
Accrued expenses 2,940 2,940
1,224,472 812,710

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans (see note 10) 3,506,356 1,901,431
Hire purchase contracts 66,280 -
Directors' loan accounts 1,652,063 1,626,337
5,224,699 3,527,768

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,031,356 1,901,431

10. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Bank loans 330,000 -
Other loans 1 737,675 754,675
Other loans 2 20,000 -
1,087,675 754,675

Amounts falling due between one and two years:
Bank loans - 1-2 years 990,000 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,485,000 -

Amounts falling due in more than five years:

TUNCER INVESTMENTS LTD (REGISTERED NUMBER: 09850978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

10. LOANS - continued
31.12.22 31.12.21
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,031,356 1,901,431

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.22 31.12.21
£    £   
Bank loans 3,836,356 1,901,431

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
10,000 Ordinary 1 10,000 10,000

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2022 92,695 2,071,599 2,164,294
Deficit for the year (59,823 ) (59,823 )
At 31 December 2022 32,872 2,071,599 2,104,471

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mr T Tuncer.