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Registered Number: 12642920
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 June 2023

for

TUYO PROPERTY LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Investment Properties 3 374,034    352,102 
374,034    352,102 
Current assets      
Cash at bank and in hand 9,527    301 
Creditors: amount falling due within one year (140,893)   (126,906)
Net current liabilities (131,366)   (126,605)
 
Total assets less current liabilities 242,668    225,497 
Creditors: amount falling due after more than one year (246,410)   (246,410)
Provisions for liabilities (4,161)  
Net liabilities (7,903)   (20,913)
 

Capital and reserves
     
Called up share capital 4 100    100 
Revaluation Reserve 5 21,455   
Profit and loss account (29,458)   (21,013)
Shareholder's funds (7,903)   (20,913)
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The directors of the company have elected not to include the Income Statement within the financial statements.
The financial statements were approved by the board of directors on 06 February 2024 and were signed on its behalf by:


-------------------------------
L Balesdens
Director
1
General Information
Tuyo Property Ltd is a company limited by shares and is incorporated in England and Wales. The address of the registered office is C/O Bluewater , Quadrant Court, 49 Calthorpe Road, Birmingham, B15 1TH. The nature of the company's operations and its principal activity was that of property investment.
1.

Accounting policies

Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 30 June each year, and are stated in pound sterling, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.
Going concern basis
The directors have formed a judgement, at the time of approving the financial statements, that there is an expectation that the Company, with the support of its shareholders, has adequate resources to continue in operational existence for the foreseeable future being at least twelve months from the date of the financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements as set out in the going concern section of the Directors' Report.
Turnover
Turnover comprises rental income receivable during the period.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Investment Properties

Cost Other investments other than loans   Total
  £   £
At 01 July 2022 348,102    348,102 
Additions 4,034    4,034 
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 21,898    21,898 
At 30 June 2023 374,034    374,034 

4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2