Company registration number:
13139162
Trackgate Properties Limited
Unaudited filleted financial statements
31 January 2023
Trackgate Properties Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Trackgate Properties Limited
Directors and other information
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Directors |
Mr D M Poynting |
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Mrs S Carey Poynting |
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Company number |
13139162 |
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Registered office |
35 Hove Park Way |
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Hove |
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East Sussex |
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BN3 6PW |
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Business address |
35 Hove Park Road |
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Hove |
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East Sussex |
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BN3 6PW |
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Accountants |
Keith Bellenie & Co Ltd |
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3 Cecilian Court |
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Cecilian Avenue |
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Worthing |
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West Sussex |
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BN14 3AP |
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Trackgate Properties Limited
Statement of financial position
31 January 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
939,000 |
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971,339 |
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_______ |
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_______ |
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939,000 |
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971,339 |
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Current assets |
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Debtors |
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6 |
6,900 |
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701 |
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Cash at bank and in hand |
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42,894 |
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8,662 |
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_______ |
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_______ |
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49,794 |
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9,363 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
678,354) |
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(
673,440) |
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_______ |
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_______ |
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Net current liabilities |
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(
628,560) |
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(
664,077) |
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_______ |
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_______ |
Total assets less current liabilities |
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310,440 |
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307,262 |
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Creditors: amounts falling due |
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after more than one year |
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8 |
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(
300,000) |
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(
300,000) |
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_______ |
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_______ |
Net assets |
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10,440 |
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7,262 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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201 |
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200 |
Revaluation reserve |
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(
25,943) |
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- |
Profit and loss account |
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36,182 |
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7,062 |
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_______ |
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_______ |
Shareholders funds |
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10,440 |
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7,262 |
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_______ |
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_______ |
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For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 October 2023
, and are signed on behalf of the board by:
Mr D M Poynting
Director
Company registration number:
13139162
Trackgate Properties Limited
Notes to the financial statements
Year ended 31 January 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Hove Park Way, Hove, East Sussex, BN3 6PW.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022: Nil).
5.
Tangible assets
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Freehold property |
Total |
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£ |
£ |
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Cost or valuation |
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At 1 February 2022 |
971,339 |
971,339 |
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Disposals |
(
311) |
(
311) |
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Revaluation |
(
32,028) |
(
32,028) |
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_______ |
_______ |
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At 31 January 2023 |
939,000 |
939,000 |
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_______ |
_______ |
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Depreciation |
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At 1 February 2022 and 31 January 2023 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 January 2023 |
939,000 |
939,000 |
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_______ |
_______ |
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At 31 January 2022 |
971,339 |
971,339 |
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_______ |
_______ |
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Investment property
The properties have been revalued by the directors to show their fair value at 31 January 2023.
6.
Debtors
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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300 |
- |
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Other debtors |
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6,600 |
701 |
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_______ |
_______ |
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6,900 |
701 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Corporation tax |
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6,831 |
1,656 |
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Other creditors |
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671,523 |
671,784 |
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_______ |
_______ |
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678,354 |
673,440 |
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_______ |
_______ |
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8.
Creditors: amounts falling due after more than one year
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2023 |
2022 |
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£ |
£ |
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Other creditors |
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300,000 |
300,000 |
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_______ |
_______ |
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