2023-01-012023-07-312023-07-31false13776362Tetris UK Property 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Tetris UK Property Limited

Registered Number
13776362
(England and Wales)

Unaudited Financial Statements for the Period ended
31 July 2023

Tetris UK Property Limited
Company Information
for the period from 1 January 2023 to 31 July 2023

Directors

Marcus Mapleston
Phillip Proctor

Registered Address

251 Mansfield Road
Nottingham
NG1 3FT

Registered Number

13776362 (England and Wales)
Tetris UK Property Limited
Statement of Financial Position
31 July 2023

Notes

31 Jul 2023

31 Dec 2022

£

£

£

£

Fixed assets
Investments73,880,0002,779,980
3,880,0002,779,980
Current assets
Debtors2,506-
Cash at bank and on hand10,20611,156
12,71211,156
Creditors amounts falling due within one year(1,181,653)(1,051,034)
Net current assets (liabilities)(1,168,941)(1,039,878)
Total assets less current liabilities2,711,0591,740,102
Creditors amounts falling due after one year(2,339,925)(1,730,925)
Provisions for liabilities(92,394)-
Net assets278,7409,177
Capital and reserves
Called up share capital100100
Profit and loss account278,6409,077
Shareholders' funds278,7409,177
The financial statements were approved and authorised for issue by the Board of Directors on 18 October 2023, and are signed on its behalf by:
Phillip Proctor
Director
Registered Company No. 13776362
Tetris UK Property Limited
Notes to the Financial Statements
for the period ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is that of property investment.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention as modified by the revaluation of investment properties measured at fair value through profit & loss and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents rental income due for the period under operating leases all of which relate to properties in the United Kingdom.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investments policy
Investment property is carried at fair value determined annually. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.
6.Employee information

20232022
Average number of employees during the year22
7.Fixed asset investments
The fair value of the properties were made in the year by the directors, who have experience in the location and class of properties, on an open market value for existing use basis. No further input from an independent valuer was deemed to be required.

Total

£
Cost or valuation
At 01 January 232,779,980
Additions730,444
Revaluations369,576
At 31 July 233,880,000
Net book value
At 31 July 233,880,000
At 31 December 222,779,980
8.Description of financial commitments other than capital commitments
There are legal charges over the properties operated by the company.
9.Description of nature of transactions and balances with related parties
During the period the company provided and received short and long term loans from related parties. The balances outstanding due from/(to) related parties at 31 July 2023 are as follows: Amounts due from group undertakings £1,200 (2022: £-) Amounts due to group undertakings (£1,164,961) (2022: (£1,041,070))
10.Further information regarding the company's financial position
Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in the revaluation reserve, which is an unrealised surplus that does not form part of the company's distributable reserve. FRS 102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account. Consequently, the Profit and Loss Account reserve at 31 July 2023 includes a non-distributable amount of £277,182 (2022: £0).