Registration number:
Tillett Property Ltd
for the Period from 12 July 2022 to 31 July 2023
Tillett Property Ltd
Directors' Report for the Period from 12 July 2022 to 31 July 2023
The directors present their report and the abridged financial statements for the period from 12 July 2022 to 31 July 2023.
Incorporation
The company was incorporated on
Directors of the company
The directors who held office during the period were as follows:
The following director was appointed after the period end:
Principal activity
The principal activity of the company is Letting and operations of own or leased real estate
Small companies provision statement
This report has 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.
Approved and authorised by the
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Tillett Property Ltd
(Registration number: 14228248)
Abridged Balance Sheet as at 31 July 2023
Note |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
1,975 |
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Shareholders' funds |
2,075 |
For the financial period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Tillett Property Ltd
(Registration number: 14228248)
Abridged Balance Sheet as at 31 July 2023
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Tillett Property Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 abridged 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 abridged 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.
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 |
Freehold property |
1% reducing balance |
Plant and machinery |
25% reducing balance |
Tillett Property Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
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.
Tillett Property Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Profit before tax |
Arrived at after charging/(crediting)
2023 |
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Depreciation expense |
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Income from shares in group undertakings |
(30,000) |
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 July 2023 |
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Depreciation |
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Charge for the period |
- |
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At 31 July 2023 |
- |
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Carrying amount |
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At 31 July 2023 |
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Included within the net book value of land and buildings above is £246,583 in respect of freehold land and buildings.
Investments |
Tillett Property Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023
Total |
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Cost or valuation |
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Additions |
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Provision |
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Carrying amount |
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At 31 July 2023 |
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2023 |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
2023 |
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Subsidiary undertakings |
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Unit 3 & 4 Premier Business Units, Wilton Road, Grimsby, DN36 4AN England |
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Subsidiary undertakings |
G & N Country Leisure Limited The principal activity of G & N Country Leisure Limited is |
Debtors |
Debtors includes £Nil due after more than one year.
Share capital |
Allotted, called up and fully paid shares
Tillett Property Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023
2023 |
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No. |
£ |
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|
|
100 |