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REGISTERED NUMBER: 01860162 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Tillship Limited

Tillship Limited (Registered number: 01860162)

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


Tillship Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mrs A M Sandle-Brownlie





REGISTERED OFFICE: 12 St Mary'S Avenue
Wanstead
London
E11 2NP





REGISTERED NUMBER: 01860162 (England and Wales)





ACCOUNTANTS: Ashford Associates UK Limited
Chartered Certified Accountants
74A High Street
Wanstead
London
E11 2RJ

Tillship Limited (Registered number: 01860162)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,305 27,072
Investments 5 123,191 125,943
Investment property 6 2,495,236 2,495,236
2,638,732 2,648,251

CURRENT ASSETS
Cash at bank 84,687 94,172

CREDITORS
Amounts falling due within one year 7 6,618 4,736
NET CURRENT ASSETS 78,069 89,436
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,716,801

2,737,687

PROVISIONS FOR LIABILITIES 205,183 205,017
NET ASSETS 2,511,618 2,532,670

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 1,094,413 1,094,413
Retained earnings 1,417,105 1,438,157
2,511,618 2,532,670

Tillship Limited (Registered number: 01860162)

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 director acknowledges her 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 director and authorised for issue on 3 October 2023 and were signed by:





Mrs A M Sandle-Brownlie - Director


Tillship Limited (Registered number: 01860162)

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


1. STATUTORY INFORMATION

Tillship 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.

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

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 - 1 ).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 171,125 49,167 220,292
DEPRECIATION
At 1 April 2022 145,892 47,328 193,220
Charge for year 6,308 459 6,767
At 31 March 2023 152,200 47,787 199,987
NET BOOK VALUE
At 31 March 2023 18,925 1,380 20,305
At 31 March 2022 25,233 1,839 27,072

Tillship Limited (Registered number: 01860162)

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


5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments not loans 123,191 125,943

Additional information is as follows:
Listed
investments Investments Totals
£    £    £   
COST
At 1 April 2022 77,760 18,358 96,118
Share of profit/(loss) (2,752 ) - (2,752 )
At 31 March 2023 75,008 18,358 93,366
NET BOOK VALUE
At 31 March 2023 75,008 18,358 93,366
At 31 March 2022 77,760 18,358 96,118

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
No description 29,825 29,825

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,495,236
NET BOOK VALUE
At 31 March 2023 2,495,236
At 31 March 2022 2,495,236

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 1,400,822
Valuation in 2017 769,000
Valuation in 2020 75,276
Valuation in 2022 250,138
2,495,236

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1 -
Taxation and social security 3,223 1,342
Other creditors 3,394 3,394
6,618 4,736

Tillship Limited (Registered number: 01860162)

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


8. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 1,094,413

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mrs A M Sandle-Brownlie
Balance outstanding at start of year (894 ) (894 )
Amounts advanced 500 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (394 ) (894 )

Above loan was interest free and repayable on demand

ULTIMATE CONTROLLING PARTY

As on the balance sheet date, Mrs Aileen M Sandle Brownlie holds 100% shareholding in the company. Therefore the ultimate controlling person is Mrs Aileen M Sandle Brownlie.