Registered number
06019260
TC Lettings Ltd
Filleted Accounts
31 December 2023
TC Lettings Ltd
Registered number: 06019260
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 100,000 100,000
Creditors: amounts falling due within one year 4 (2,093) (4,006)
Net current liabilities (2,093) (4,006)
Total assets less current liabilities 97,907 95,994
Provisions for liabilities (7,815) (7,815)
Net assets 90,092 88,179
Capital and reserves
Called up share capital 100 100
Revaluation reserve 5 45,098 45,098
Profit and loss account 44,894 42,981
Shareholder's funds 90,092 88,179
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T P Cook
Director
Approved by the board on 4 April 2024
TC Lettings Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Freehold investment property
Investment property is revalued annually at fair value and any surplus or deficit is dealt with through the Non Distributable Reserve. No depreciation is provided in respect of the investment property. Deferred taxation is provided on any gain at the Corporation Tax rate applicable to the current accounting period.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 100,000
At 31 December 2023 100,000
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 100,000
At 31 December 2022 100,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 42,907 42,907
Cumulative depreciation based on historical cost - -
42,907 42,907
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 966 912
Taxation and social security costs 802 812
Other creditors 325 2,282
2,093 4,006
5 Revaluation reserve 2023 2022
£ £
At 1 January 2023 45,098 67,098
Loss on revaluation of land and buildings - (22,000)
At 31 December 2023 45,098 45,098
6 Related party transactions
During the year the company paid a dividend of £1500 to the director Mr T P Cook.
7 Controlling party
The company is under the control of Mr T P Cook, the sole director and shareholder.
8 Other information
TC Lettings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5a Bath Place
Taunton
Somerset
TA1 4ER
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