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REGISTERED NUMBER: 12450829 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

TANZANITE DURHAM LTD

TANZANITE DURHAM LTD (REGISTERED NUMBER: 12450829)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TANZANITE DURHAM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: D A McCarroll





REGISTERED OFFICE: c/o Morgan Douglas
94 Elvet Bridge
Durham
DH1 3AG





REGISTERED NUMBER: 12450829 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

TANZANITE DURHAM LTD (REGISTERED NUMBER: 12450829)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 282,814 219,197

CURRENT ASSETS
Debtors 5 304,880 214,126
Cash at bank 2,859 61,476
307,739 275,602
CREDITORS
Amounts falling due within one year 6 367,689 340,301
NET CURRENT LIABILITIES (59,950 ) (64,699 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

222,864

154,498

CREDITORS
Amounts falling due after more than one
year

7

(177,688

)

(185,605

)

PROVISIONS FOR LIABILITIES (15,904 ) -
NET ASSETS/(LIABILITIES) 29,272 (31,107 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 29,172 (31,207 )
SHAREHOLDERS' FUNDS 29,272 (31,107 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

TANZANITE DURHAM LTD (REGISTERED NUMBER: 12450829)

BALANCE SHEET - continued
28 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:





D A McCarroll - Director


TANZANITE DURHAM LTD (REGISTERED NUMBER: 12450829)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Tanzanite Durham 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 Statement of Income and Retained Earnings, 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).

TANZANITE DURHAM LTD (REGISTERED NUMBER: 12450829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 219,197
Revaluations 63,617
At 28 February 2023 282,814
NET BOOK VALUE
At 28 February 2023 282,814
At 28 February 2022 219,197

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2023 282,814

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 304,880 214,126

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 1,250
Other creditors 362,689 339,051
367,689 340,301

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 177,688 185,605

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 161,855 161,855

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 161,855 161,855

Two interest only mortgages are secured on the company's investments properties.

TANZANITE DURHAM LTD (REGISTERED NUMBER: 12450829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. CALLED UP SHARE CAPITAL

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

10. RESERVES

Retained earnings is fully comprised of non-distributable reserves, as they include £47,713 of fair value gains (less deferred tax) on its investment properties which are shown within the income statement.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
D A McCarroll
Balance outstanding at start of year 214,126 210,062
Amounts advanced 66,935 47,320
Amounts repaid (3,970 ) (43,256 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 277,091 214,126

12. RELATED PARTY DISCLOSURES

During the year the company continued to receive an interest free loan from a company under common control. The balance at the year end was £358,314 (2022 : £337,208).

During the year the company made an interest free loan to a company under common control. The balance at the year end was £27,000 (2022 : Nil)