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REGISTERED NUMBER: 04143765 (England and Wales)
















Tait Apartments Limited

Unaudited Financial Statements

for the Year Ended 25th March 2023






Tait Apartments Limited (Registered number: 04143765)






Contents of the Financial Statements
for the Year Ended 25th March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Tait Apartments Limited

Company Information
for the Year Ended 25th March 2023







Directors: Mr M I Hasan
Mr P S Kanwal
Miss S Taheri-Panah
Ms J E Smith





Registered office: 13a Building Two
New North Road
London
N1 7BJ





Registered number: 04143765 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Tait Apartments Limited (Registered number: 04143765)

Statement of Financial Position
25th March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investment property 4 468,127 473,627

Current assets
Debtors 5 75 2,857
Cash at bank 842,747 860,101
842,822 862,958
Creditors
Amounts falling due within one year 6 728,956 768,364
Net current assets 113,866 94,594
Total assets less current liabilities 581,993 568,221

Provisions for liabilities 72,155 73,013
Net assets 509,838 495,208

Capital and reserves
Called up share capital 106 106
Share premium 28,994 28,994
Fair value reserve 340,605 344,632
Retained earnings 140,133 121,476
509,838 495,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25th March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 25th 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.

Tait Apartments Limited (Registered number: 04143765)

Statement of Financial Position - continued
25th 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 22nd September 2023 and were signed on its behalf by:




Miss S Taheri-Panah - Director



Ms J E Smith - Director


Tait Apartments Limited (Registered number: 04143765)

Notes to the Financial Statements
for the Year Ended 25th March 2023

1. Statutory information

Tait Apartments 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 the amounts derived from ground rents and landlord's administration charges.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 5 (2022 - 4 ) .

Tait Apartments Limited (Registered number: 04143765)

Notes to the Financial Statements - continued
for the Year Ended 25th March 2023

4. Investment property
Total
£   
Fair value
At 26th March 2022 473,627
Disposals (615 )
Revaluations (4,885 )
At 25th March 2023 468,127
Net book value
At 25th March 2023 468,127
At 25th March 2022 473,627

Fair value at 25th March 2023 is represented by:
£   
Valuation in 2002 71,107
Valuation in 2003 28,340
Valuation in 2006 46,727
Valuation in 2010 135,500
Valuation in 2011 (15,500 )
Valuation in 2014 93,324
Valuation in 2017 70,122
Valuation in 2020 (7,180 )
Valuation in 2021 (4,795 )
Valuation in 2023 (4,885 )
Cost 55,367
468,127

The investment property was valued by the directors at fair value as at 25th March 2023.

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 75 2,857

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 30,287 -
Taxation and social security 1,842 251
Other creditors 696,827 768,113
728,956 768,364

Other creditors include an amount held on behalf of tenants of £672,494 (2022 - £737,743).