REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
for |
Tosca Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
for |
Tosca Properties Limited |
Tosca Properties Limited (Registered number: 06736893) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Tosca Properties Limited |
Company Information |
for the Year Ended 31 October 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 1 |
19 Aviation Way |
Southend Airport |
Southend on Sea |
Essex |
SS2 6UN |
Tosca Properties Limited (Registered number: 06736893) |
Balance Sheet |
31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 | 710,000 | 710,000 |
CURRENT ASSETS |
Cash at bank | 34,657 | 22,391 |
CREDITORS |
Amounts falling due within one year | 5 | 229,121 | 228,286 |
NET CURRENT LIABILITIES | (194,464 | ) | (205,895 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES | 515,536 | 504,105 |
PROVISIONS FOR LIABILITIES | 56,058 | 56,058 |
NET ASSETS | 459,478 | 448,047 |
CAPITAL AND RESERVES |
Called up share capital | 100 | 100 |
Non distributable reserve | 6 | 337,236 | 337,236 |
Retained earnings | 6 | 122,142 | 110,711 |
SHAREHOLDERS' FUNDS | 459,478 | 448,047 |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Tosca Properties Limited (Registered number: 06736893) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Tosca Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment property is initially recognised at cost. The cost of a purchased investment property comprises it's purchase price and any directly attributable expenditure. Subsequently, investment property whose value can be measured without undue cost or effort is measured at fair value at each reporting date with changes in fair value being recognised in the income statement. |
Deferred tax is provided on these fair value changes at the rate expected to apply when the property is sold. |
Fair value is determined by the directors based on their knowledge of the properties, taking into account location, condition and prevailing market values at the reporting date. |
Taxation |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Tosca Properties Limited (Registered number: 06736893) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Fair value at 31 October 2023 is represented by: |
£ |
Valuation in 2009 | 26,725 |
Valuation in 2010 | (5,000 | ) |
Valuation in 2013 | 51,864 |
Valuation in 2014 | 29,704 |
Valuation in 2015 | 35,000 |
Valuation in 2017 | 75,000 |
Valuation in 2018 | 60,000 |
Valuation in 2021 | 120,000 |
Cost | 316,707 |
710,000 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Taxation and social security |
Other creditors |
6. | RESERVES |
Non |
Retained | distributable |
earnings | reserve | Totals |
£ | £ | £ |
At 1 November 2022 |
Profit for the year |
At 31 October 2023 | 459,378 |