Registered number
03870789
Taydale Properties Limited
Unaudited Filleted Accounts
31 July 2023
Taydale Properties Limited
Registered number: 03870789
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 450,000 560,000
Current assets
Debtors 4 - 59,312
Cash at bank and in hand 22,085 9,496
22,085 68,808
Creditors: amounts falling due within one year 5 (13,674) (5,487)
Net current assets 8,411 63,321
Total assets less current liabilities 458,411 623,321
Creditors: amounts falling due after more than one year 6 (261,959) (327,081)
Provisions for liabilities (45,786) (57,937)
Net assets 150,666 238,303
Capital and reserves
Called up share capital 400 400
Profit and loss account 150,266 237,903
Shareholders' funds 150,666 238,303
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.
M D Halliwell
Director
Approved by the board on 3 November 2023
Taydale Properties Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention except for the revaluation of investment property 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 rents receivable.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2022 560,000
Disposals (110,000)
At 31 July 2023 450,000
Depreciation
At 31 July 2023 -
Net book value
At 31 July 2023 450,000
At 31 July 2022 560,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 155,130 183,538
Cumulative depreciation based on historical cost - -
155,130 183,538
4 Debtors 2023 2022
£ £
Other debtors - 59,312
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 12,274 3,087
Other creditors 1,400 2,400
13,674 5,487
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 261,959 327,081
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 261,959 327,081
Secured bank loans 261,959 327,081
The bank loans are secured on the company's investment properties.
8 Controlling party
The company is under the control of M D Halliwell, who owns 60% of the issued share capital.
9 Other information
Taydale Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
1A The Hollows
Wilton
Salisbury
SP2 0JD
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