3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07477875 2022-08-01 2023-07-31 07477875 2023-07-31 07477875 2022-07-31 07477875 2021-11-01 2022-07-31 07477875 2022-07-31 07477875 2021-10-31 07477875 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 07477875 bus:Director2 2022-08-01 2023-07-31 07477875 core:WithinOneYear 2023-07-31 07477875 core:WithinOneYear 2022-07-31 07477875 core:AfterOneYear 2023-07-31 07477875 core:AfterOneYear 2022-07-31 07477875 core:ShareCapital 2023-07-31 07477875 core:ShareCapital 2022-07-31 07477875 core:RetainedEarningsAccumulatedLosses 2023-07-31 07477875 core:RetainedEarningsAccumulatedLosses 2022-07-31 07477875 core:BetweenOneFiveYears 2023-07-31 07477875 core:CostValuation core:Non-currentFinancialInstruments 2022-07-31 07477875 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-07-31 07477875 core:CostValuation core:Non-currentFinancialInstruments 2023-07-31 07477875 core:Non-currentFinancialInstruments 2023-07-31 07477875 core:Non-currentFinancialInstruments 2022-07-31 07477875 bus:SmallEntities 2022-08-01 2023-07-31 07477875 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 07477875 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 07477875 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07477875 bus:AbridgedAccounts 2022-08-01 2023-07-31 07477875 bus:OrdinaryShareClass1 2023-07-31 07477875 bus:OrdinaryShareClass1 2022-07-31
COMPANY REGISTRATION NUMBER: 07477875
Tetris UK Property Holdings Limited
Filleted Unaudited Abridged Financial Statements
31 July 2023
Tetris UK Property Holdings Limited
Abridged Financial Statements
Year Ended 31 July 2023
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 6
Tetris UK Property Holdings Limited
Abridged Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
5,864
7,818
Investments
6
5,015,103
4,091,014
------------
------------
5,020,967
4,098,832
Current Assets
Debtors
970,013
599,650
Cash at bank and in hand
17,858
450,666
---------
------------
987,871
1,050,316
Creditors: amounts falling due within one year
62,208
47,123
---------
------------
Net Current Assets
925,663
1,003,193
------------
------------
Total Assets Less Current Liabilities
5,946,630
5,102,025
Creditors: amounts falling due after more than one year
7
2,617,513
2,639,169
Provisions
Taxation including deferred tax
515,468
287,477
------------
------------
Net Assets
2,813,649
2,175,379
------------
------------
Capital and Reserves
Called up share capital
9
106
106
Profit and loss account
2,813,543
2,175,273
------------
------------
Shareholders Funds
2,813,649
2,175,379
------------
------------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
Tetris UK Property Holdings Limited
Abridged Statement of Financial Position (continued)
31 July 2023
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 24 October 2023 , and are signed on behalf of the board by:
Mr P Proctor
Director
Company registration number: 07477875
Tetris UK Property Holdings Limited
Notes to the Abridged Financial Statements
Year Ended 31 July 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 251 Mansfield Road, Nottingham, NG1 3FT. This is also the company's place of business.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 investment properties measured at fair value through profit and loss. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents rents due under operating leases.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date .
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Equipment
-
25% reducing balance
Investments
Investment property is initially recorded 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.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. Tangible assets
£
Cost
At 1 August 2022 and 31 July 2023
7,818
-------
Depreciation
At 1 August 2022
Charge for the year
1,954
-------
At 31 July 2023
1,954
-------
Carrying amount
At 31 July 2023
5,864
-------
At 31 July 2022
7,818
-------
6. Investments
Shares in group undertakings
Investment Property
Total
£
£
£
Cost
At 1 August 2022
103
4,090,911
4,091,014
Revaluations
924,089
924,089
----
------------
------------
At 31 July 2023
103
5,015,000
5,015,103
----
------------
------------
Impairment
At 1 August 2022 and 31 July 2023
----
------------
------------
Carrying amount
At 31 July 2023
103
5,015,000
5,015,103
----
------------
------------
At 31 July 2022
103
4,090,911
4,091,014
----
------------
------------
The fair value of the properties were made in the year by the directors, who have experience in the location and class of properties, on an open market value for existing basis. No further input from an independent valuer was deemed to be required.
7. Creditors: amounts falling due after more than one year
Included within creditors falling due in more than one year is an amount of £2,617,513 (2022: £2,639,169) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.
8. Security
There are legal charges over the properties operated by the company.
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
106
106
106
106
----
----
----
----
10. Reserves
Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in the revaluation reserve, which is an unrealised surplus that does not form part of the company's distributable reserve. FRS 102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account.
Consequently, the Profit and Loss Account reserve at 31 July 2023 includes a non-distributable amount of £1,934,255 (2022: £1,238,157).
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
16,356
4,071
Later than 1 year and not later than 5 years
19,081
--------
-------
35,437
4,071
--------
-------
12. Related parties
During the period the company provided and received short and long term loans from related parties. The balances outstanding due from/(to) related parties at 31 July 2023 are as follows:
2023 2022
£ £
Amounts due from group undertakings 951,468 578,640
Amounts owed to group undertakings (23,814)