REGISTERED NUMBER: |
T Seven Property Limited |
Unaudited Financial Statements |
for the Year Ended 31 August 2023 |
REGISTERED NUMBER: |
T Seven Property Limited |
Unaudited Financial Statements |
for the Year Ended 31 August 2023 |
T Seven Property Limited (Registered number: 12837753) |
Contents of the Financial Statements |
for the year ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
T Seven Property Limited |
Company Information |
for the year ended 31 August 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
T Seven Property Limited (Registered number: 12837753) |
Balance Sheet |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) |
Shareholders' funds | ( |
) |
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 |
T Seven Property Limited (Registered number: 12837753) |
Notes to the Financial Statements |
for the year ended 31 August 2023 |
1. | Statutory information |
T Seven Property Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The company meets its day to day working capital requirements through support of the parent entity and has provided a letter of support for the twelve months following the signature date of these financial statements. |
On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. |
Preparation of consolidated financial statements |
The financial statements contain information about T Seven Property Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover comprises of the following: |
Management fees - for the supply of project management services carried out in the period, recognised on an accrual basis. |
Interest income - Interest receivable from loans provided and classified as fixed asset investments. |
Financial instruments |
The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' for debt instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets are measured at fair value through the profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
T Seven Property Limited (Registered number: 12837753) |
Notes to the Financial Statements - continued |
for the year ended 31 August 2023 |
2. | Accounting policies - continued |
Fixed asset investments |
Investments in subsidiaries are carried at cost less any provision for impairment. |
Fixed assets investments listed as other loans are carried at cost plus accumulated interest less any provision for impairment. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Fixed asset investments |
2023 | 2022 |
£ | £ |
Shares in group undertakings |
Other loans |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 September 2022 |
Additions |
At 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
Other loans |
£ |
New in year |
Other movement |
At 31 August 2023 |
T Seven Property Limited has registered charges at Companies House for the loan provided to Springfield & Westgate Goffs Oak Limited. This includes fixed and floating charges covering all the property and undertaking of the company. |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
T Seven Property Limited (Registered number: 12837753) |
Notes to the Financial Statements - continued |
for the year ended 31 August 2023 |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1p | 10 | 10 |
8. | Reserves |
Retained |
earnings |
£ |
At 1 September 2022 | ( |
) |
Profit for the year |
At 31 August 2023 |
9. | Related party disclosures |
Included within other creditors is a balance of £4,873,229 (2022: £5,492,768) owed to the company director |