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REGISTERED NUMBER: 06739611 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

TC PROPERTIES SOUTHERN LIMITED

TC PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 06739611)






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

Chartered Accountants' Report 8

TC PROPERTIES SOUTHERN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: T J Crook





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 06739611 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

TC PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 06739611)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 123,031 61,906
Investment property 5 1,015,000 1,035,000
1,138,031 1,096,906

CURRENT ASSETS
Debtors 6 2,625 60,000
Cash at bank 411 1,625
3,036 61,625
CREDITORS
Amounts falling due within one year 7 5,510 2,888
NET CURRENT (LIABILITIES)/ASSETS (2,474 ) 58,737
TOTAL ASSETS LESS CURRENT LIABILITIES 1,135,557 1,155,643

CREDITORS
Amounts falling due after more than one year 8 212,200 212,200
NET ASSETS 923,357 943,443

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 10 538,722 558,722
Retained earnings 384,535 384,621
SHAREHOLDERS' FUNDS 923,357 943,443

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 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.

TC PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 06739611)

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 director and authorised for issue on 8 November 2023 and were signed by:





T J Crook - Director


TC PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 06739611)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

TC Properties Southern Limited 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.

The director has made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover represents net invoiced sales of services and rents receivable, excluding value added tax.

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.

3. EMPLOYEES AND DIRECTORS

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

TC PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 06739611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2022 61,906
Additions 61,125
At 31 August 2023 123,031
NET BOOK VALUE
At 31 August 2023 123,031
At 31 August 2022 61,906

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 1,035,000
Revaluations (20,000 )
At 31 August 2023 1,015,000
NET BOOK VALUE
At 31 August 2023 1,015,000
At 31 August 2022 1,035,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2018 400,891
Valuation in 2019 32,831
Valuation in 2020 50,000
Valuation in 2021 10,000
Valuation in 2022 65,000
Valuation in 2023 (20,000 )
Cost 476,278
1,015,000

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

31.8.23 31.8.22
£    £   
Cost 467,278 476,278

The investment properties were valued on an open market basis basis on 31 August 2023 by the director .

TC PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 06739611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Directors' loan accounts - 60,000
Prepayments 2,625 -
2,625 60,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Tax 3,967 277
Directors' current accounts 325 1,537
Accruals and deferred income 1,218 1,074
5,510 2,888

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans greater than five
years - non instalments 212,200 212,200
212,200 212,200

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans greater than five
years - non instalments 212,200 212,200
212,200 212,200

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 212,200 212,200

Metro Bank plc held a fixed charge over the company's investment properties being 23 Kingsley Close St Leonards on Sea TN37 7BX, 3 Keymer Close St Leonards on Sea TN38 0YZ and 75 Stonefield Road Hastings TN34 1QA until 24 November 2021 when the charge was satisfied.

A new charge was created on 22 November 2021 with the persons entitled being Paragon Bank plc. Paragon Bank plc now hold a fixed charge over 23 Kingsley Close St Leonards on Sea TN37 7BX and 75 Stonefield Road Hastings TN34 1QA.

TC PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 06739611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

10. RESERVES
Non
distributable
reserve
£   
At 1 September 2022 558,722
Non distributable revaluation (20,000 )

At 31 August 2023 538,722

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
T J Crook
Balance outstanding at start of year 60,000 -
Amounts advanced - 60,000
Amounts repaid (60,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 60,000

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the director was owed £325 by the company. This amount is repayable upon demand.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TC PROPERTIES SOUTHERN LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TC Properties Southern Limited for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of TC Properties Southern Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TC Properties Southern Limited and state those matters that we have agreed to state to the director of TC Properties Southern Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TC Properties Southern Limited and its director for our work or for this report.

It is your duty to ensure that TC Properties Southern Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TC Properties Southern Limited. You consider that TC Properties Southern Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TC Properties Southern Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


9 November 2023