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REGISTERED NUMBER: 09780498 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

TL PROPERTIES SOUTHERN LIMITED

TL PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 09780498)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TL PROPERTIES SOUTHERN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr A Luongo
Mrs A Luongo





REGISTERED OFFICE: Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS





BUSINESS ADDRESS: 8 Langstone Road
Havant
Hampshire
PO9 1RE





REGISTERED NUMBER: 09780498 (England and Wales)





ACCOUNTANTS: Casson Beckman
Chartered Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

TL PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 09780498)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,386 2,386
Investments 5 55 54
Investment property 6 1,461,807 1,094,615
1,464,248 1,097,055

CURRENT ASSETS
Debtors 7 659,130 552,097
Cash at bank 26,255 138,503
685,385 690,600
CREDITORS
Amounts falling due within one year 8 19,416 161,156
NET CURRENT ASSETS 665,969 529,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,130,217

1,626,499

CREDITORS
Amounts falling due after more than one year 9 (844,079 ) (582,074 )

PROVISIONS FOR LIABILITIES (106,866 ) (42,077 )
NET ASSETS 1,179,272 1,002,348

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,179,271 1,002,347
SHAREHOLDERS' FUNDS 1,179,272 1,002,348

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TL PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 09780498)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





Mr A Luongo - Director


TL PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 09780498)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

TL Properties Southern Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 represents amounts received from property sales and rental income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - not provided

Investment property
Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

Tangible fixed assets include investment properties valued on an existing open market value basis by the director.

Although this accounting policy is in accordance with FRS102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


TL PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 09780498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 October 2022
and 30 September 2023 2,386
NET BOOK VALUE
At 30 September 2023 2,386
At 30 September 2022 2,386

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2022 54
Additions 1
At 30 September 2023 55
NET BOOK VALUE
At 30 September 2023 55
At 30 September 2022 54

TL PROPERTIES SOUTHERN LIMITED (REGISTERED NUMBER: 09780498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 1,094,615
Additions 161,183
Revaluations 206,009
At 30 September 2023 1,461,807
NET BOOK VALUE
At 30 September 2023 1,461,807
At 30 September 2022 1,094,615

The property values at 30 September 2023 are considered by the director to represent their fair carrying value. The investment property portfolio was valued as at 30 September 2023 using the director's knowledge of the properties and current market conditions.

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 109,130 2,097

Amounts falling due after more than one year:
Other debtors 550,000 550,000

Aggregate amounts 659,130 552,097

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 74
Taxation and social security 8,906 27,614
Other creditors 10,510 133,468
19,416 161,156

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 844,079 582,074