IRIS Accounts Production v23.3.1.45 02250408 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure022504082022-03-31022504082023-03-31022504082022-04-012023-03-31022504082021-03-31022504082021-04-012022-03-31022504082022-03-3102250408ns16:EnglandWales2022-04-012023-03-3102250408ns15:PoundSterling2022-04-012023-03-3102250408ns11:Director12022-04-012023-03-3102250408ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3102250408ns11:SmallEntities2022-04-012023-03-3102250408ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3102250408ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3102250408ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3102250408ns11:FullAccounts2022-04-012023-03-3102250408ns11:OrdinaryShareClass12022-04-012023-03-3102250408ns11:Director22022-04-012023-03-3102250408ns11:RegisteredOffice2022-04-012023-03-3102250408ns6:CurrentFinancialInstruments2023-03-3102250408ns6:CurrentFinancialInstruments2022-03-3102250408ns6:ShareCapital2023-03-3102250408ns6:ShareCapital2022-03-3102250408ns6:RevaluationReserve2023-03-3102250408ns6:RevaluationReserve2022-03-3102250408ns6:RetainedEarningsAccumulatedLosses2023-03-3102250408ns6:RetainedEarningsAccumulatedLosses2022-03-3102250408ns6:FurnitureFittings2022-04-012023-03-3102250408ns6:LandBuildings2022-03-3102250408ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-3102250408ns6:FurnitureFittings2022-03-3102250408ns6:LandBuildings2022-04-012023-03-3102250408ns6:ShortLeaseholdAssetsns6:LandBuildings2022-04-012023-03-3102250408ns6:LandBuildings2023-03-3102250408ns6:ShortLeaseholdAssetsns6:LandBuildings2023-03-3102250408ns6:FurnitureFittings2023-03-3102250408ns6:LandBuildings2022-03-3102250408ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-3102250408ns6:FurnitureFittings2022-03-3102250408ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3102250408ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3102250408ns11:OrdinaryShareClass12023-03-3102250408ns6:RevaluationReserve2022-03-31
REGISTERED NUMBER: 02250408 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Tarran Properties Limited

Tarran Properties Limited (Registered number: 02250408)






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


Tarran Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A J Tarran
J D Tarran





REGISTERED OFFICE: 15 Enterpen
Hutton Rudby
Yarm
TS15 0EL





REGISTERED NUMBER: 02250408 (England and Wales)





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

Tarran Properties Limited (Registered number: 02250408)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,128,151 1,128,648

CURRENT ASSETS
Debtors 5 15,858 12,178
Cash at bank and in hand 159,524 103,867
175,382 116,045
CREDITORS
Amounts falling due within one year 6 317,962 315,113
NET CURRENT LIABILITIES (142,580 ) (199,068 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

985,571

929,580

PROVISIONS FOR LIABILITIES 63,605 53,825
NET ASSETS 921,966 875,755

CAPITAL AND RESERVES
Called up share capital 7 100 100
Non distributable reserve 8 654,247 639,527
Retained earnings 267,619 236,128
SHAREHOLDERS' FUNDS 921,966 875,755

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.

Tarran Properties Limited (Registered number: 02250408)

Balance Sheet - continued
31 March 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 13 November 2023 and were signed on its behalf by:





A J Tarran - Director


Tarran Properties Limited (Registered number: 02250408)

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

1. STATUTORY INFORMATION

Tarran Properties 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.

The financial statements are presented in sterling which is the functional currency of the company.

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 received.


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.

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 the profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Tarran Properties Limited (Registered number: 02250408)

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

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Fixtures
Investment Investment and
property Property fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022 1,006,578 120,000 35,634 1,162,212
Disposals (45,000 ) - - (45,000 )
Revaluations 45,500 - - 45,500
At 31 March 2023 1,007,078 120,000 35,634 1,162,712
DEPRECIATION
At 1 April 2022 - - 33,564 33,564
Charge for year - - 997 997
At 31 March 2023 - - 34,561 34,561
NET BOOK VALUE
At 31 March 2023 1,007,078 120,000 1,073 1,128,151
At 31 March 2022 1,006,578 120,000 2,070 1,128,648

An independent valuation of the properties was carried out in June 2021 by C H Burbury & Company Chartered Surveyors and Michael Westgarth-Taylor & Co. Chartered Surveyors. The properties are included at their open market value, subject to assured shorthold tenancy.

The investment property was valued at fair value by A Tarran, the director. Whilst the director is not a professionally qualified valuer, she has a longstanding involvement in the local property market. The valuation of the property is assessed using her overall knowledge of the property and its condition combined with the appropriate rental yield and by comparison with similar properties in the local area.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 5,363 5,363
Other debtors 10,495 6,815
15,858 12,178

Tarran Properties Limited (Registered number: 02250408)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,717 341
Amounts owed to group undertakings 259,900 250,685
Other creditors 56,345 64,087
317,962 315,113

7. CALLED UP SHARE CAPITAL

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

8. RESERVES
Non
distributable
reserve
£   
At 1 April 2022 639,527
Revaluation 45,500
Disposal (21,000 )
Deferred tax on fair value adj
ustment (9,780 )

At 31 March 2023 654,247

9. RELATED PARTY DISCLOSURES

As at 31 March 2023 a balance of £259,900 (2022: £250,685 ) was owed to a company under common control. No interest has been charged on this loan.

As at 31 March 2023 a balance of £5,363 (2022: £5,363) was due from the holding company.