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Company No: 00638798 (England and Wales)

TAMAR AND PROVINCIAL ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

TAMAR AND PROVINCIAL ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

TAMAR AND PROVINCIAL ESTATES LIMITED

BALANCE SHEET

As at 30 September 2023
TAMAR AND PROVINCIAL ESTATES LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 650,000 650,000
Investments 4 3 3
650,003 650,003
Current assets
Debtors 5 40,087 40,511
Cash at bank and in hand 107,351 156,526
147,438 197,037
Creditors: amounts falling due within one year 6 ( 20,815) ( 24,675)
Net current assets 126,623 172,362
Total assets less current liabilities 776,626 822,365
Net assets 776,626 822,365
Capital and reserves
Called-up share capital 7 12,000 12,000
Fair value reserve 642,770 642,770
Profit and loss account 121,856 167,595
Total shareholders' funds 776,626 822,365

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tamar and Provincial Estates Limited (registered number: 00638798) were approved and authorised for issue by the Board of Directors on 01 February 2024. They were signed on its behalf by:

G J Humphries
Director
TAMAR AND PROVINCIAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
TAMAR AND PROVINCIAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tamar and Provincial Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Plym House, 3 Longbridge Road, Plymouth, PL6 8LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 October 2022 650,000
As at 30 September 2023 650,000

Valuation

The investment properties were valued by the directors at 30 September to show the fair value.

4. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 October 2022 3 3
At 30 September 2023 3 3
Provisions for impairment
At 01 October 2022 0 0
At 30 September 2023 0 0
Carrying value at 30 September 2023 3 3
Carrying value at 30 September 2022 3 3

5. Debtors

2023 2022
£ £
Trade debtors 3,489 34,185
Amounts owed by Group undertakings 292 292
Other debtors 36,306 6,034
40,087 40,511

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 3,345 11,416
Other creditors 17,470 13,259
20,815 24,675

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
5,805 Ordinary shares of £ 1.00 each 5,805 5,805
5,880 Ordinary A shares of £ 1.00 each 5,880 5,880
40 Ordinary B shares of £ 1.00 each 40 40
40 Ordinary C shares of £ 1.00 each 40 40
40 Ordinary D shares of £ 1.00 each 40 40
120 Ordinary E shares of £ 1.00 each 120 120
75 Ordinary F shares of £ 1.00 each 75 75
12,000 12,000

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

At the year end the company was owed £292 (2022: £292) by a related company, this is repayable upon demand.

Transactions with the entity's directors

During the year the company paid £3,750 to a Director for maintenance costs.