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REGISTERED NUMBER: 12136437 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Team Green Property Ltd

Team Green Property Ltd (Registered number: 12136437)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Team Green Property Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M A Green
Mrs C E Green





REGISTERED OFFICE: 68 Tenby Road
Redcar
United Kingdom
Cleveland
TS10 4GZ





REGISTERED NUMBER: 12136437 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff LLP
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Team Green Property Ltd (Registered number: 12136437)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,507 2,926
Investment property 5 145,000 145,000
147,507 147,926

CURRENT ASSETS
Debtors 6 2,759 1,145
Cash at bank 807 13,773
3,566 14,918
CREDITORS
Amounts falling due within one year 7 30,868 45,274
NET CURRENT LIABILITIES (27,302 ) (30,356 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,205

117,570

CREDITORS
Amounts falling due after more than one
year

8

(89,495

)

(89,495

)

PROVISIONS FOR LIABILITIES (4,457 ) (4,457 )
NET ASSETS 26,253 23,618

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 19,003 19,003
Retained earnings 7,150 4,515
SHAREHOLDERS' FUNDS 26,253 23,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Team Green Property Ltd (Registered number: 12136437)

Balance Sheet - continued
31 August 2023


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 Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





M A Green - Director


Team Green Property Ltd (Registered number: 12136437)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Team Green Property Ltd is a private company, limited by shares , registered in England and Wales. 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 represents rental income receivable and is measured at the fair value of the consideration receivable, before deduction of agency fees.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Team Green Property Ltd (Registered number: 12136437)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2022 4,256
Additions 817
Disposals (250 )
At 31 August 2023 4,823
DEPRECIATION
At 1 September 2022 1,330
Charge for year 1,116
Eliminated on disposal (130 )
At 31 August 2023 2,316
NET BOOK VALUE
At 31 August 2023 2,507
At 31 August 2022 2,926

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 145,000
NET BOOK VALUE
At 31 August 2023 145,000
At 31 August 2022 145,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2021 13,460
Valuation in 2022 10,000
Cost 121,540
145,000

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

2023 2022
£    £   
Cost 121,540 121,540

Investment property was valued on an open market basis on 31 August 2023 by the directors .

Team Green Property Ltd (Registered number: 12136437)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,759 1,145

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 2,560 373
Other creditors 28,308 44,901
30,868 45,274

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 89,495 89,495

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 89,495 89,495

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 89,495 89,495

The company's loans are secured by way of legal mortgage over the investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 September 2022
and 31 August 2023 19,003