Tanglin Property Holdings Ltd 09831829 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is Property Digita Accounts Production Advanced 6.30.9574.0 true true 09831829 2022-11-01 2023-10-31 09831829 2023-10-31 09831829 core:OtherReservesSubtotal 2023-10-31 09831829 core:RetainedEarningsAccumulatedLosses 2023-10-31 09831829 core:ShareCapital 2023-10-31 09831829 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 09831829 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 09831829 core:FurnitureFittingsToolsEquipment 2023-10-31 09831829 bus:SmallEntities 2022-11-01 2023-10-31 09831829 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 09831829 bus:FullAccounts 2022-11-01 2023-10-31 09831829 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09831829 bus:RegisteredOffice 2022-11-01 2023-10-31 09831829 bus:CompanySecretaryDirector1 2022-11-01 2023-10-31 09831829 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09831829 core:FurnitureFittings 2022-11-01 2023-10-31 09831829 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 09831829 countries:England 2022-11-01 2023-10-31 09831829 2022-10-31 09831829 core:FurnitureFittingsToolsEquipment 2022-10-31 09831829 2021-11-01 2022-10-31 09831829 2022-10-31 09831829 core:OtherReservesSubtotal 2022-10-31 09831829 core:RetainedEarningsAccumulatedLosses 2022-10-31 09831829 core:ShareCapital 2022-10-31 09831829 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 09831829 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 09831829 core:FurnitureFittingsToolsEquipment 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 09831829

Tanglin Property Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Tanglin Property Holdings Ltd

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Tanglin Property Holdings Ltd

(Registration number: 09831829)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,054

1,171

Investment property

5

769,147

768,147

 

770,201

769,318

Current assets

 

Cash at bank and in hand

 

9,305

4,345

Creditors: Amounts falling due within one year

6

(163,317)

(163,989)

Net current liabilities

 

(154,012)

(159,644)

Total assets less current liabilities

 

616,189

609,674

Creditors: Amounts falling due after more than one year

6

(466,937)

(463,463)

Provisions for liabilities

(37,028)

(36,778)

Net assets

 

112,224

109,433

Capital and reserves

 

Called up share capital

280

280

Other reserves

114,995

114,245

Retained earnings

(3,051)

(5,092)

Shareholders' funds

 

112,224

109,433

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Tanglin Property Holdings Ltd

(Registration number: 09831829)
Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 5 February 2024 and signed on its behalf by:
 

.........................................
Mr B Springett
Company secretary and director

 

Tanglin Property Holdings Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 2 Healey House
Dene Road
Andover
Hampshire
SP10 2AA

The principal place of business is:
1 Thistlebarrow Road
Salisbury
Wiltshire
SP1 3RU

These financial statements were authorised for issue by the Board on 5 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Tanglin Property Holdings Ltd

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents rents invoiced during the period.

Government grants

Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

10% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Tanglin Property Holdings Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments


Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
 

 

Tanglin Property Holdings Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

2,356

2,356

At 31 October 2023

2,356

2,356

Depreciation

At 1 November 2022

1,185

1,185

Charge for the year

117

117

At 31 October 2023

1,302

1,302

Carrying amount

At 31 October 2023

1,054

1,054

At 31 October 2022

1,171

1,171

5

Investment properties

2023
£

At 1 November

768,147

Fair value adjustments

1,000

At 31 October

769,147

The investment properties are included at their open market value of £769,147 and are based on the directors' valuations. The properties initially cost £617,124 and have been revalued by £152,023.

There has been no valuation of investment property by an independent valuer.

 

Tanglin Property Holdings Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

160,368

162,368

Taxation and social security

 

524

-

Accruals and deferred income

 

2,425

1,620

Other creditors

 

-

1

 

163,317

163,989

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

466,937

463,463

7

Loans and borrowings

Bank loans and overdrafts
Bank loans and overdrafts of £466,937 (2022 - £463,463) are secured by a legal charge over the investment properties.

Creditors due after 5 years
Bank loans and overdrafts repayable not by instalments due after 5 years amount to £466,937 (2022 - £463,463).

8

Profit and loss account

2023
£

2022
£

Distributable reserves

(3,051)

(5,092)

Non-distributable reserves

114,995

114,245

111,944

109,153