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REGISTERED NUMBER: 08546684 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR


TONARK DEVELOPMENTS LIMITED


TONARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08546684)








CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





TONARK DEVELOPMENTS LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2023









DIRECTORS:

Mrs D I Hogan


Mr B C Hogan







SECRETARY:

Mr D P Holton







REGISTERED OFFICE:

Cosmopolitan House


2 Phipp Street


London


EC2A 4BP







REGISTERED NUMBER:

08546684 (England and Wales)







ACCOUNTANTS:

Bayar Hughes & Co


Chartered Certified Accountants


4 Green Lane Business Park


238 Green lane


New Eltham


London


SE9 3TL


TONARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08546684)



BALANCE SHEET

31 MARCH 2023



2023

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

2,585


-



Investment Properties

5

1,870,000


1,812,000



1,872,585


1,812,000




CURRENT ASSETS

Debtors

6

8,792


8,069



Cash at bank

23,601


34,656



32,393


42,725



CREDITORS

Amounts falling due within one year

7

18,277


23,245



NET CURRENT ASSETS

14,116


19,480



TOTAL ASSETS LESS CURRENT

LIABILITIES

1,886,701


1,831,480




CREDITORS

Amounts falling due after more than one

year

8

1,454,000


1,469,000



NET ASSETS

432,701


362,480




CAPITAL AND RESERVES

Called up share capital

100


100



Revaluation reserve

9

222,428


164,428



Retained earnings

9

210,173


197,952



SHAREHOLDERS' FUNDS

432,701


362,480




TONARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08546684)



BALANCE SHEET - continued

31 MARCH 2023



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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 15 November 2023 and were signed on its behalf by:






Mr B C Hogan - Director



TONARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08546684)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023


1.

STATUTORY INFORMATION



Tonark Developments 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.    



Turnover

Turnover represents rent received.


Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furnishings, Fixtures & Fittings - 24 Months Straight Line


Investment properties


Investment properties are 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.

3.

EMPLOYEES AND DIRECTORS



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


TONARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08546684)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2023


4.

TANGIBLE FIXED ASSETS


Furnishings,


Fixtures


& Fittings

£   



COST


At 1 April 2022

13,106




Additions

5,170




At 31 March 2023

18,276




DEPRECIATION


At 1 April 2022

13,106




Charge for year

2,585




At 31 March 2023

15,691




NET BOOK VALUE


At 31 March 2023

2,585




At 31 March 2022

-




5.

INVESTMENT PROPERTIES


Total

£   



FAIR VALUE


At 1 April 2022

1,812,000




Revaluations

58,000




At 31 March 2023

1,870,000




NET BOOK VALUE


At 31 March 2023

1,870,000




At 31 March 2022

1,812,000





Fair value at 31 March 2023 is represented by:

£   



Valuation in 2022

164,428




Valuation in 2023

58,000




Cost

1,647,572



1,870,000





Investment properties were valued on an open market basis on 31 March 2023 by the Directors' .


6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Trade Debtors

2,880


2,400




PAYE Repayment

2,357


-




Other Debtors & Prepayments

3,555


5,669



8,792


8,069




TONARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08546684)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2023


7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Corporation Tax

4,009


6,918




Deferred Income

5,229


13,761




Directors' Loan Account

6,485


255




Other Creditors & Accruals

2,554


2,311



18,277


23,245




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR


2023

2022


£   

£   



Loans

675,000


675,000




Directors' Loan Account

779,000


794,000



1,454,000


1,469,000




9.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1 April 2022

197,952


164,428


362,380




Profit for the year

20,221


20,221




Dividends

(8,000

)

(8,000

)



Revaluations

-


58,000


58,000




At 31 March 2023

210,173


222,428


432,601