TD Property (Cardiff) Limited 11698991 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is Buying & Selling of Real Estate and Property Rentals. Digita Accounts Production Advanced 6.30.9574.0 Software true true 11698991 2022-12-01 2023-11-30 11698991 2023-11-30 11698991 bus:OrdinaryShareClass1 2023-11-30 11698991 core:RetainedEarningsAccumulatedLosses 2023-11-30 11698991 core:ShareCapital 2023-11-30 11698991 core:CurrentFinancialInstruments 2023-11-30 11698991 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 11698991 core:Non-currentFinancialInstruments 2023-11-30 11698991 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 11698991 core:FurnitureFittings 2023-11-30 11698991 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 11698991 bus:SmallEntities 2022-12-01 2023-11-30 11698991 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 11698991 bus:FullAccounts 2022-12-01 2023-11-30 11698991 bus:RegisteredOffice 2022-12-01 2023-11-30 11698991 bus:CompanySecretaryDirector1 2022-12-01 2023-11-30 11698991 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 11698991 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11698991 core:FurnitureFittings 2022-12-01 2023-11-30 11698991 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 11698991 core:LandBuildings 2022-12-01 2023-11-30 11698991 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11698991 core:OtherRelatedParties 2022-12-01 2023-11-30 11698991 countries:AllCountries 2022-12-01 2023-11-30 11698991 2022-11-30 11698991 core:FurnitureFittings 2022-11-30 11698991 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 11698991 2021-12-01 2022-11-30 11698991 2022-11-30 11698991 bus:OrdinaryShareClass1 2022-11-30 11698991 core:RetainedEarningsAccumulatedLosses 2022-11-30 11698991 core:ShareCapital 2022-11-30 11698991 core:CurrentFinancialInstruments 2022-11-30 11698991 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 11698991 core:Non-currentFinancialInstruments 2022-11-30 11698991 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 11698991 core:FurnitureFittings 2022-11-30 11698991 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 11698991

TD Property (Cardiff) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

TD Property (Cardiff) Limited

(Registration number: 11698991)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

169,470

172,912

Current assets

 

Debtors

5

19

-

Cash at bank and in hand

 

3,517

4,306

 

3,536

4,306

Creditors: Amounts falling due within one year

6

(55,356)

(62,414)

Net current liabilities

 

(51,820)

(58,108)

Total assets less current liabilities

 

117,650

114,804

Creditors: Amounts falling due after more than one year

6

(123,730)

(123,730)

Net liabilities

 

(6,080)

(8,926)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(6,180)

(9,026)

Total equity

 

(6,080)

(8,926)

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

Director's 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 director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 1 March 2024
 

.........................................
Mr J Thomas-Duffy
Company secretary and director

   
     
 

TD Property (Cardiff) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
James William House
9 Museum Place
Cardiff
CF10 3BD

These financial statements were authorised for issue by the director on 1 March 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.

Going concern

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

Revenue recognition

Rents Received comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Rents Received is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

TD Property (Cardiff) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

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

Land & Buildings

2% Straight line basis

Furniture, Fixtures & Fittings

15% Reducing balance

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

TD Property (Cardiff) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2022

175,972

5,506

181,478

Additions

-

684

684

At 30 November 2023

175,972

6,190

182,162

Depreciation

At 1 December 2022

7,038

1,528

8,566

Charge for the year

3,519

607

4,126

At 30 November 2023

10,557

2,135

12,692

Carrying amount

At 30 November 2023

165,415

4,055

169,470

At 30 November 2022

168,934

3,978

172,912

Included within the net book value of land and buildings above is £165,415 (2022 - £168,934) in respect of leasehold land and buildings.
 

5

Debtors

2023
£

2022
£

Prepayments

19

-

19

-

 

TD Property (Cardiff) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Other related parties

 

15,155

15,155

Corporation tax liability

 

76

-

Other creditors

 

40,125

47,259

 

55,356

62,414

Due after one year

 

Loans and borrowings

8

123,730

123,730

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

123,730

123,730

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

123,730

123,730

 

TD Property (Cardiff) Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

2023
£

2022
£

Current loans and borrowings

9

Related party transactions

The balance due to the director at the reporting date was £15,155 this loan is interest free and repayable on demand.

Summary of transactions with other related parties

Thomas Duffy Limited
 During the year the company received financial assistance from the related party.
The balance outstanding at the reporting date was £53,835. This loan is interest free and repayable on demand.
This is shown under note 6 - other creditors.